- Mahindra Group will manufacture HeroOptima and NYX
- Hero Electric’s production capacity increases to one million units
- Will help develop Peugeot Motocycles’ electric portfolio
Hero Electric and the Mahindra Group have announced that they will join hands in the electric vehicle space. This partnership aims to cater to the ever-growing demand for electric vehicles in the country. It will also develop the platform approach to help in the electrification of the Peugeot Motocycles’ portfolio.
As part of the partnership, the Mahindra Group will manufacture Hero Electric’s scooters, the Optima and the NYX at their Pitampur plant. This added production capacity will allow Hero Electric to increase its output to over one million electric vehicles per year.
Speaking about the announcement, Naveen Munjal, MD, Hero Electric, said that the partnership will enhance the manufacturing capabilities to meet demand and utilise Mahindra Group’s robust supply chain to reach newer centres in the country. Munjal further added that the long-term partnership will also see both the companies make the most out of each other’s knowledge of electric vehicles and drive new product development in the next few years.
The press announcement also added that this joint development will also be a key factor in developing the platform approach to help in the electrification of the Peugeot Motocycles’ portfolio. Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, Mahindra & Mahindra Ltd., added that Peugeot Motocycles has ambitious plans in the electric vehicle mobility space in several regions of the world, 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.
