Hero Electric, Mahindra roll out their first electric two-wheeler together
Hero Electric and Mahindra Group have together rolled out their first electric two-wheeler - Optima - from the Pithampur factory as part of their strategic partnership to promote growth of electric vehicles. Both the companies last month announced a five-year partnership worth around ₹150 crore.
With the help of the joint partnership with the Mahindra Group, Hero Electric aims to produce one million electric vehicles per annum by the end of this year. Under the partnership, both the companies will also jointly produce and develop supply chain and share platform for electric two-wheelers.
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Mahindra Group will manufacture Hero Electric's Optima and NYX scooters at the manufacturer's Pithampur facility. Under the joint venture partnership, both the companies will also work towards electrification of Mahindra-owned Peugeot Motocycles’ portfolio. During the announcement last month, Rajesh Jejurikar, Executive Director of Auto & Farm Sectors at Mahindra and Mahindra, said, "Peugeot Motocycles has ambitious plans in the EV mobility space in several regions of the world and particularly in Europe."
Both the companies together aim to create a seamless channel of communication to provide knowledge sharing among the R&D teams to build new products and technologies. This will be done keeping the Indian and global markets in mind that will help in growth of electric vehicles. During the announcement of the partnership last month, Naveen Munjal, Managing Director at Hero Electric, said, “With this partnership, we look to further enhance our manufacturing capabilities to meet demand and utilise Mahindra Group’s robust supply chain to reach newer centres in the country."
In a separate development, Hero Electric recently joined hands with 24*7 roadside assistance company ReadyAssist to train and upskill 20,000 mechanics for servicing electric vehicles in the country. The partnership is a part of the EV manufacturer's Private Garage Owners (PGO) initiative.