TimesEV
TimesEV
TimesEV
TimesEV
TimesEV
TimesEV
More
    HomeParts & MaterialHero Electric Joins Hands with M&M for EV Production, Platform Development

    Hero Electric Joins Hands with M&M for EV Production, Platform Development

    Hero Electric on Wednesday said it has partnered with the Mahindra Group for electric vehicle mobility. As part of the collaboration, Mahindra Group will manufacture Hero Electric’s Optima and NYX electric models at its Pithampur plant.

    With this partnership along with the expansion of their existing Ludhiana facility, Hero Electric will be able to meet its demand of manufacturing over 1 million EVs a year. The joint efforts will also be a key factor in developing a platform approach to help electrification of Peugeot Motorcycles in which’ M&M has a controlling stake, the company said in a statement.

    Over the 5-year contract period, the value of the transaction is expected to be in the range of INR 140 – 150 crores.

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

    “This coming together of two industry leaders is to enhance the manufacturing capabilities to meet demand and utilize Mahindra Group’s robust supply chain to reach new centres in the country. The long-term partnership will also see both the companies make the most out of each other’s deep knowledge of EVs and drive new product development in the next few years. We look forward to creating more synergies with them in the near future,” he said.

    Rajesh Jejurikar, executive director, auto and farm Sectors, Mahindra & Mahindra Ltd., said, “Peugeot Motocycles has ambitious plans in the EV mobility space in several regions of the world and particularly in Europe. This strategic partnership will bolster these efforts through joint development and a platform sharing approach leveraging the combined strengths of the two businesses.”

    “Our R&D Centre in India will be integral to this arrangement as will the manufacturing facility at Pithampur, which already supplies Peugeot EV products. I see significant value creation on a mutually beneficial basis and look forward to this partnership delivering on its obvious promise,” he said.

    Related Post

    Most Popular

    Best Picks

    Aimil Ltd.: Setting the Benchmark for Instrumentation Solutions at Auto EV India 2023

    Aimil Ltd., an ISO 9001:2015 certified company with a heritage tracing back to 1932, holds a prominent position as a leading provider of cutting-edge...

    Electrify Your Future: A Thriving Career in the E-Mobility...

    In an era where sustainability and innovation reign supreme, the E-Mobility sector has emerged as the driving force behind a transformative shift in the...

    X0115ML, the smallest SCR now supports a surge peak...

    Author: STMicroelectronics The X0115ML is our first compact silicon control rectifier (SCR) for ground fault circuit interrupters (GFCIs) and arc-fault circuit interrupters (AFCIs) that can withstand a...

    Exploring the Future of Electronics: Unveiling the Power of...

    In a recent interview conducted by technology journalist Himanshu Vaibhav of eletimes.com and timesev.com, Dr. John W. Mitchell, President & CEO of IPC, discussed...

    Navigating Defense Challenges: Insights from Chris Peters, USPAE Founding...

    In a recent interview conducted by technology journalist Himanshu Vaibhav from eletimes.com and timesev.com, Mr. Chris Peters, the Founding Executive Director of the U.S....

    Driving Innovation: Cientra’s Leadership in Automotive and Telecom Technology...

    Cientra stands as a prominent leader in the realm of technology solutions. Consistently, they innovate and advance their proprietary technologies to cater to the...

    STM32Wx microcontrollers is an ideal fit for RF designers...

    The STM32Wx microcontrollers enable wireless connectivity supporting the sub-GHz band and the 2.4 GHz frequency range. STM32 Wireless MCUs are highly integrated and reliable...

    Veridify, Overcoming the challenges of OT security in building...

    Despite popular belief, it is possible to secure legacy embedded systems properly, even if they lack today’s iron-clad cryptographic capabilities, the latest protections, or...

    Tsuyo’s Vision for Future Manufacturing: Incorporating Emerging Technologies and...

    Tsuyo Manufacturing is deeply committed to offering highly reliable, robust, and durable products designed to withstand a wide range of exposure and service conditions...

    Must Read