Hero Electric, in collaboration with the Mahindra Group, launched its first co-developed electric scooter on 7th Feb.2022. Both of these automakers formed a deal last month to develop electric two-wheelers.
Mahindra was to manufacture Hero Electric’s Optima and Nyx electric bikes under this cooperation.
Hero Electric would be able to satisfy its requirement of producing over 1 million electric vehicles per year by 2022 with this agreement and expansion of their current Ludhiana factory. This will also help them to promote the use of a more environmentally friendly means of travel.
In the long run, this agreement will enable both firms to use one another’s extensive understanding of electric vehicles and accelerate the development of new products in the coming years.
Joint development efforts will also be critical in establishing the platform architecture necessary to electrify Peugeot Motorcycles’ range.
Peugeot Motorcycles has big aspirations for electric mobility in a number of locations throughout the globe, most notably in Europe. This strategic alliance will boost these efforts by utilizing the combined expertise of the two firms via collaborative development and platform sharing.
Peugeot’s R&D centre in India, as well as the production site in Pitampur, which currently provides Peugeot with EV goods, is vital to this arrangement.
Reference- Economic Times, Live Mint, HT Auto, Autocar India, Hero Electric website & PR