Hero Cycles delivers first batch of Made-in-India e-bikes to Europe
- Hero Cycles believes that sales of e-bikes are expected to reach around 15 million units in Europe by 2030.
- 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.
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)