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Business News/ Auto News / Hero Electric-Mahindra rolls out its first electric vehicle. Details here
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Hero Electric-Mahindra rolls out its first electric vehicle. Details here

Last month, both these auto majors announced their collaboration to make electric two-wheelers

Hero Electric and Mahindra’s first vehicle roll-out.Premium
Hero Electric and Mahindra’s first vehicle roll-out.

Hero Electric in association with Mahindra Group has today rolled out its first jointly developed electric scooter today. Last month, both these auto majors announced their collaboration to make electric two-wheelers. In this partnership, Mahindra was supposed to make Hero Electric Optima and Nyx electric motorcycles.

“With this collaboration along with the expansion of their existing Ludhiana facility, Hero will be able to meet its demand of manufacturing over 1 million EVs per year by 2022. This will further enable them to drive adoption of a cleaner mode of transport," said Hero Electric last month.

While announcing this partnership, Naveen Munjal, MD, Hero Electric said, “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."

The joint development efforts will also be a key factor in developing the platform approach to help electrification of the Peugeot Motocycles’ portfolio.

Rajesh Jejurikar, Executive Director, Auto & 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 Pitampur, that already supplies Peugeot with EV products. I see significant value creation on a mutually beneficial basis and look forward to this partnership delivering on its obvious promise."

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Published: 07 Feb 2022, 06:13 PM IST
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