Hero Electric recently announced that the brand formed a strategic five-year partnership with Mahindra and Mahindra. Under the INR 150 crore partnership Hero Electric will be manufacturing its two-wheelers at the Mahindra Group Pithampur plant in Madhya Pradesh. The brand will be manufacturing the Hero Electric Optima and Nyx electric scooters at the production facility. Now, Hero Electric has revealed that the first electric scooter has rolled out under the strategic partnership, which is the Hero Optima. Hero Electric also revealed that the brand plans to produce around 1 million units of electric vehicles per year, under the partnership.
The strategic partnership will not be limited to Hero Electric using Mahindra’s facilities. But both companies are likely to jointly develop and share the supply chain required to manufacture electric vehicles. Under the partnership, Hero Electric is also likely to work with Mahindra to electrify their products of the future. Mahindra Group and Hero Electric will utilise each other research and development expertise as well as new technologies. The products developed under the partnership are not likely to just retail in the Indian market but also adhere to global standards.
Reports also suggest that under the Mahindra-Peugeot partnership, the brand is likely to develop electric scooters and motorcycles internationally. The Mahindra-backed company is likely to launch its electric vehicles in the international markets, which are also likely to arrive in India, as the demand for electric vehicles is high in the country. Under the strategic partnership, Hero Electric will work with Mahindra to develop these vehicles under the Peugeot brand.
At the end of 2021, Hero Electric revealed that the brand has over 4,00,000 customers and over 700 dealerships in the last 14 years of operations. This has led Hero Electric to claim the title of “India’s No. 1 EV Company”.
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