Hero Electric and Mahindra Group, leading the way in electric vehicles in India, today announced their partnership for electric vehicles across the country. Under this alliance, Mahindra Group will produce Hero Electric’s electric models such as NYX and Optima at its Pitampur plant to meet the growing demand for electric vehicles. This will enable the Hero Electric brand to meet its demand of manufacturing over one million EVs per year by 2022.
Speaking on this historic announcement, Naveen Munjal, MD, Hero Electric, said, “Hero Electric is leading the electric two wheeler segment. To further deepen its roots and strengthen its leadership, Hero Electric has partnered with Mahindra Group. which will pioneer EVs in the electric three and four wheeler space.”
Controversy over the “Hero” brand name
The decision comes as the recent tussle between two factions of the Munjal family over the use of the brand’s name between Hero MotoCorp and Hero Electric has intensified. According to recent information, Hero Electric’s owner Vijay Munjal and his son Naveen Munjal have filed a petition in the High Court against Hero MotoCorp’s CMD Pawan Munjal for using the ‘Hero’ brand name for upcoming electric vehicles. Action has been demanded against.
Under this partnership, both the companies will look to increase production, produce new vehicles and electrify Peugeot Motocycles portfolio through platform sharing. Hero Electric is looking forward to forge more such synergies with Mahindra Group in the near future. The Mahindra Group’s R&D center in India will play an integral role in this arrangement along with the Pitampur plant which already supplies Peugeot with EV products.
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In case you forgot, Hero MotoCorp is all set to launch its own range of electric bikes and scooters, which may make its debut in March this year. Due to which Hero Electric fears that the company may use the “Hero” brand to avoid the huge cost of manufacturing and take advantage of the name to strengthen its presence in the EV segment.
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