16 Dec HYM Drive Systems, A Hero-Yamaha JV Company, Opens its Manufacturing Facility for Electric Drive Units in Ludhiana
Gurgaon, December 16, 2022: The Inauguration of the manufacturing facility of HYM Drive Systems, a joint venture between Hero Motors Ltd. and Yamaha Motors Co. (Japan), took place yesterday, December 15, 2022, at Hero E-Cycle Valley in Ludhiana.
Mr. Pankaj Munjal, Chairman of Hero Motors Company, inaugurated the new facility in presence of senior executives from Yamaha Motor Co. (Japan), strategic partners and other stakeholders. Hero Motors and Yamaha Motor Co. (Japan) entered into an agreement in October 2021 to create a Global E-Cycle (Electric) Drive Unit company at Hero E-Cycle Valley in Ludhiana. This joint venture is the next step in the strategic alliance forged between Hero and Yamaha in September 2019 to work together in the E-Cycle product segment.
“This manufacturing facility is a key component of our Joint strategy with Yamaha to design, validate and manufacture Electric Drive Units for global E-Cycle markets in India” said Mr. Pankaj Munjal, Chairman of Hero Motors Company. He added, “HMC envisions India to be a global manufacturing hub for E-Cycles and the drive systems. The EU e-bicycle market has been growing in double digits for more than a decade and expected to grow at a similar rate in near future. The set-up of this facility has brought us one step closer to fulfilling our ambition to be the first fully integrated player in India for global market. To take it a step further, Hero Motors is planning to set up a Technical Center in 2023 to design the complete Electric Drive Units, which will include motors from HYM and other components like battery, controller, charger, display, sensors and connect applications from automotive suppliers in India & the EU.
Mr. Okubo Shingo, General Manager, Yamaha Japan, remarked, “We are delighted today to set-up this facility and see our partnership with Hero start so efficiently despite pandemic challenges. This partnership is in line with our ambition of advancing into E-Cycle and meet the needs of E-Cycle customers in a better way. We are excited to achieve this milestone.”
HYM Drive Systems is situated at the 100-acre Hero E-Cycle Valley in Ludhiana. The Hero E-Cycle valley is an integrated, high-end plant that manufactures premium push bikes for the global market. HYM Drive systems has a state-of-the-art facility that includes a Hi-tech Motor Assembly line, along with an inhouse Motor winding, and end-of-line testing equipped with ODIN Software System for 100% traceability. HYM will start production in Q1 2023 with a Capacity of 3,00,000 Motors per annum in Phase 1 (Capacity expansion plan to 10,00,000 or 1 Million in phase 2). The product would be sold to the global markets through Hero and Yamaha’s OEM network and will also be used in the Hero and Yamaha branded E-Cycles.