Hero Electric and Mahindra ink pact to collaborate in EV space
In a significant development, Hero Electric and Mahindra Group on Wednesday announced a strategic pact in the electric vehicle space.
As part of the partnership, Mahindra Group will manufacture Hero Electric’s most popular electric bikes — Optima & NYX — at their Pithampur plant, in Madhya Pradesh to meet the growing demands of the market, the companies said in a joint statement.
With this collaboration, along with the expansion of its existing Ludhiana facility, Hero will be able to meet its demand of manufacturing over 1 million EVs per year by 2022.
“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 wheelers space,” Hero Electric MD Naveen Munjal noted.
