Hero Electric ties up with Mahindra to manufacture over 1 million EVs in a year

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Hero Electric is partnering with Mahindra & Mahindra to ramp up production of its electric vehicles. The new partnership is expected to create several synergies to help drive the adoption of electric vehicles in the country. Hero Electric will use Mahindra’s facility to scale up its EV production substantially.

The companies have jointly announced that Mahindra Group will manufacture Hero Electric’s most popular electric bikes Optima and NYX at its Pitampur plant near Indore. This new plant will augment Hero Electric’s production from its Ludhiana plant. According to the companies, this new partnership will help the companies to meet the demand of manufacturing more than one million electric vehicles per year by 2022.

What’s in it for Mahindra?

This partnership will also be a key factor in Mahindra’s development of an electric platform for Peugeot motorcycles. The partnership will allow both parties to optimize costs, timelines and share necessary knowledge on EVs.

Speaking on the announcement, Naveen Munjal, MD, Hero Electric said, “Hero Electric is leading the electric two-wheeler sector in the country. To further deepen its roots and strengthen its leadership, Hero Electric has announced a partnership with Mahindra Group, which is leading the EV transition in the electric three and four wheeler space.

He further added, “This coming together of two industry leaders is to further enhance manufacturing capabilities to meet demand and harness Mahindra Group’s strong supply chain to reach new hubs in the country. The long-term partnership will allow both companies to make the most of each other’s in-depth knowledge of EVs and drive new product development over the next few years. We look forward to building more rapport with them in the near future.”

Rajesh Jejurikar, Executive Director, Auto and Farm Sector, Mahindra & Mahindra Ltd., said, “Peugeot has ambitious plans in many areas of the motorcycle world, and the EV mobility sector in particular in Europe. This strategic partnership will combine these efforts with the joint growth and development of the two businesses. through a platform-sharing approach to leverage the combined strength of the

He further added, “Our R&D center in India will be an integral part of this arrangement as will the manufacturing facility in Pitampur, which already supplies Peugeot with EV products. I am looking forward to creating significant value on a mutually beneficial basis. I look forward to seeing this partnership deliver on its clear promise.”

First appeared on BGR India after Hero Electric partnered with Mahindra to make over 1 million electric vehicles every year.

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