Hero Cycles delivers 200 units of Made in India e-Bikes to Europe
Hero Cycles has announced that it has delivered its first batch of Made in India e-Bikes to Europe, said India’s Hero Motors Company Group (HMC).
The shipment marks the start of the groups plan to become a leader in the European Union (EU) market and brightens the prospect of India as a reliable supplier to the market other than China. The first shipment of roughly 200 units has been delivered to Germany, with further units planned for the EU in future.
The first HNF built in India branded bike has already been launched in Europe. Jess Weiss, CEO of Hero International said: “Clearly, a major part of the future is e-Bikes with e-Bike sales expected to reach around 15 million units in Europe by 2030. We are confident that Hero is poised to become a market leader in this segment, making 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”
The company claims that bringing its e-Bikes to Europe will aid in overcoming the bicycle supply chain disruptions caused by the pandemic.
To aid in the growing demand for e-Bikes and bikes in general, the company has also established a digital supply chain company Hero Supply Chain (HSC).
“Where most of our competitors are struggling with supplies, the partnership with HSC allows uninterrupted supplies for bikes and e-bikes even in this high-demand period. Since HMC is also setting up component manufacturing in-house, the dependence on external component suppliers will be reduced”, Weiss added.
Pankaj M. Munjal, HMC Group Chairman and Managing Director, said: “Today, the bike market in India is valued at EURO 0.8 billion with 15 million bikes a year, whereas the European market is 15 times that of India. The e-Bikes market, where the growth lies, is valued at EURO 5 billion for Europe, 50 times that of India, valued at EURO 0.1 billion.”
“Apart from a business decision, foraying into the European market was aimed at highlighting our strength as market creators and leaders in India, we have much more to offer to the world our vision now is to become the largest fully-integrated e-Bike company in Europe,” he added.
