There’s some exciting news in the Indian EV segment. Hero Electric has announced its strategic partnership with Mahindra and Mahindra. With the future of mobility shifting towards electric, this partnership will help build a synergy to propel the Indian EV ecosystem. As a part of this collaboration, Mahindra will share its manufacturing plant with Hero Electric. Hero Electric will use Mahindra Group’s Pitampur plant to manufacture Optima and NYX electric scooters. And hence, Hero Electric will achieve its target of producing 1 million EVs per year. This is a long term partnership that will see both companies make the most out of each other’s deep knowledge of EVs.
What Does This Partnership Mean for Peugeot?
Mahindra is the parent company of Peugeot, and this partnership will help with the electrification of the Peugeot Motorcycles portfolio. Moreover, this partnership will also help in optimizing costs, timelines, and shared knowledge in this dynamic, fast-growing global EV environment. Peugeot is, one of the popular two-wheeler manufacturers in Europe, will leverage this partnership for its electrification aspirations. Both the company’s R&D departments will work closely to share knowledge and come up with new and innovative products. This partnership will also set benchmarks for faster adoption of EV tech in the industry.
Demand Rising For Electric Scooters Across The World
The trend is slowly getting much more prominent now. Electric vehicles are already dominating the sales in a few countries. And days are not far when most of the countries will have EVs as their top sellers. In India as well, there’s quite an overwhelming demand for EVs, especially in the two-wheelers segment. A host of EV makers are marking their entry to leverage the demand. India is the world’s largest two-wheeler market, and hence the market with the maximum potential. Hero Electric currently is the market leader in India, and with partnerships like this, the company will further expand its business.