New Delhi, Nov 21 (PTI) Hero Cycles Wednesday said it has entered into a strategic alliance with Japan’s Yamaha Motor Co Ltd and Mitsui & Co for technology, manufacturing and marketing of electric bicycles.Also Read - Highlights India vs New Zealand 3rd T20I Match : IND Win By 73 Runs, NZ Whitewashed 3-0
The first product for India to roll out from this alliance would be a high-end electric-mountain bike (E-MTB) under the Hero brand, the company said in a statement. Also Read - Highlights | India vs New Zealand 2nd T20I Match: IND Beat NZ By 7 Wickets, Clinch T20I Series
“The partnership has been formed with a forward looking plan which includes development of new e-mobility products jointly by Hero and Yamaha, with go-to-market sales, distribution and marketing support by Mitsui & Co.Ltd,” Hero Motors Company (HMC) Chairman Pankaj M Munjal said. Also Read - Highlights IND vs NZ 1st T20I Match: Suryakumar Yadav's Fifty & Rishabh Pant's Gutsy Knock Guide India Home
Hero Cycles, the flagship company of the HMC group, had recently announced its ‘Cycle Valley’ project proposed to be set up in Ludhiana and serve as a hub for end-to-end supply chain of the bicycle industry.
The project is to be led by Hero Cycles as anchor investor with an aim to create an ecosystem of suppliers in joint ventures with global bicycle component makers.
This is published unedited from the PTI feed.