13 Sep Hero Motors Company Director, Aditya Munjal meets UP CM Yogi Adityanath; Announces setup of Technical Centre in UP for Electric Drive Unit Systems
Gautam Buddha Nagar; Sep 09, 2022
Leading auto component manufacturer Hero Motors’ Promoter, Mr. Aditya Munjal and its MD & CEO, Mr. Amit Gupta along with other senior executives had a meeting with Chief Minister Yogi Adityanath on Monday evening, where they discussed subjects including E-Bikes, the company’s historical growth, expansion plans and setup of Technical centre for Electric Drive units in the state.
Hero Motors has its major manufacturing facility in Gautam Buddha Nagar, Uttar Pradesh with operations in Gears & Transmissions, Bike Powertrain and other Auto-component product segments. With the steep growth in exports, accounting for 55% of overall sales, the company has recorded over 30% compounded growth rate in Turnover over the last 3 years. Majority of the sales of the company come from exports, mainly by catering to OEMs in Europe and North America.
“Growth in our Transmission business has been achieved at the back of recent initiatives like acquisition of UK based Design Company, Hewland Engineering, setting up of new assembly facility in ASEAN, venturing into Design to Cost solutions offering and E-Mobility focused Drivetrain solutions. We are glad to have gotten an opportunity to share the investment plans with CM Mr Yogi Adityanath”, said Mr. Aditya Munjal.
Company’s Chairman, Mr. Pankaj Munjal’s vision is to grow Hero Motors into a leading E-Mobility component player globally. Moving in this direction, its Bike Powertrain business unit is expanding into new product segments viz., EV Motors & integrated Electric Drive Systems for Global E-Bike markets. It plans to continue the growth momentum by augmenting its R&D and business-development activities.
“We are very proud to announce the setup of Technical Centre in Gautam Buddha Nagar to design & develop advanced electric drive unit systems for E-Bike applications for global markets. This is yet another step towards realising our Chairman’s vision”, said Mr. Amit Gupta. He continued, “The team at the technical centre will include global technology experts with wide experience in development of advanced, connected systems for the e-bike applications. The recruitment is being done at a rapid pace and state of art design & validation equipment is planned for the centre.”
In addition to the Gautam Buddha Nagar centre, another centre, mainly focussed on catering to the Performance Automotive and the EV segments is under setup in Maidenhead, closer to London, in UK. Other strategic initiatives, part of the growth plans of the company are starting a new auto-component facility in Gujarat with a European partner and expanding capacities further to increase the business with domestic OEMs.