- Hero Cycles, Yamaha will jointly develop e-cycles
- Mitsui will take care of distribution, marketing
- First product to be a high-end e-MTB
Hero Cycles has entered into an alliance with Yamaha and Mitsui. This new alliance will focus on development, manufacturing and marketing of new electric bicycle.
Through this alliance, Hero Cycles and Yamaha will develop e-cycles whereas Mitsui will take care of distribution and marketing. The first product to roll out from this alliance would be a premium electric mountain bike. The electric drive unit for this product will be developed and made by Yamaha.
As per the company, e-MTB has seen the fastest growth in Europe last year. In India, e-cycles is still catching up but due to the government’s focus on clean energy, this segment is bound to grow in the future.
Hero Cycles has also begun a new Cycle Valley project. With this initiative, the company would set up a facility in Ludhiana that will serve as a hub for end-to-end supply chain for the bicycle industry. The company is looking for bicycle component makers to setup new facilities there.
