Hero Cycles delivers first batch of Made-in-India e-bikes to Europe
Indian bicycle major Hero Cycles, part of Hero Motors Company (HMC) Group, has successfully delivered its first batch of 'Made-in-India' e-bikes of around 200 units to Germany in Europe. The company aims to become a leader in the European Union (EU) market as it has more units planned for the EU in future.
Hero International – the European bike and e-bike arm of HMC – said the company’s aim is to achieve an organic revenue of up to EURO 300 million by 2025, while adding EURO 200 million from inorganic growth. The company exported the e-bikes under the HNF brand of Hero International. "The shipment marks a step forward to establish HMC as the largest fully integrated e-bike company in Europe," the company said.
Hero believes that sales of e-bikes are expected to reach around 15 million units in Europe by 2030 and thus, it is poised to be a market leader in the segment. "We expect to make high-quality e-bikes fusing HNF’s engineering and design expertise with Hero’s manufacturing capability, especially with the 100-acre Cycle Valley in Ludhiana," said Jeff Weiss, the London-based CEO of Hero International.
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The company added that its latest batch of e-bikes to Europe overcomes the bicycle supply chain disruptions caused by the coronavirus pandemic. While supplies dwindled and lead times for components increased manifold, consumer demand for bikes and e-bikes sky-rocketed.
Hero has also established a digital supply chain company – Hero Supply Chain (HSC) – a team specialised in logistics management and digital transformation, in order to cater to this growing demand for bikes and e-bikes.
Hero Cycles has a manufacturing capacity of 6 million bicycles per year and a network of plants located in Punjab's Ludhiana, UP's Ghaziabad, and Bihar's Bihta. It also has a state of the art manufacturing facility in Sri Lanka as well as a Design Centre in the UK. It also owns UK-based Avocet Sports, Germany-based HNF, and Firefox Bikes in India.
(with inputs from PTI)
