Hero Cycles delivers first batch of made in India electric bicycles to Germany
Hero Cycles a leading bicycles brand owned by the largest motorcycle manufacturer in the world Hero Motors has delivered its first batch of made in India electric bicycles to Germany. The first batch of around 200 units has been delivered to Germany and there are some more for the EU in future.Hero Cycles delivers first batch of its electric bicycles, read more to know in detail.
The Indian motorcycle manufacturer electric bicycle division has now looking for Europe and the continent’s burgeoning electric bicycle market. The shipments mark a step towards establishing Hero Motors as the largest fully integrated e-bike company in Europe.
New leader in the European market
The company expects to grow its figures and it aims to become a new leader in the European market. It will compete with both domestic manufacturers and low-cost imported electric bicycles from China. By 2025, Hero plans to add € 300 million in organic growth from its operations in Europe take advantage of mergers and acquisitions to add € 200 million in inorganic growth.
15 million units in Europe by 2030
It believes that sales of e-bikes are expected to reach around 15 million units in Europe by 2030. “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.
Hero Supply Chain (HSC)
Hero Cycles has also established a digital supply chain company-Hero Supply Chain (HSC). It 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. The company has also a state of the art manufacturing facility in Sri Lanka as well as a Design Centre in the UK.
Earlier in 2019, the Hero Motor had announced is aiming to become the world’s largest electric bicycle maker in the next 12 quarters said the company Chairman and Managing Director, Pankaj M Munjal. Hero Cycles aims to manufacture 500,000 electric bicycles by the end of 2022. Among them, most of them will be exported.
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