Hero Cycles delivers first batch of Made in India e-bikes to Europe
The first batch of around 200 units has been delivered to Germany, with further units planned for the EU in future.
London: India’s Hero Motors Company (HMC) Group has said that Hero Cycles has successfully delivered its first batch of “Made in India” e-bikes to Europe.
The shipment, under the HNF brand of Hero International (HIT), marks the start of the Indian bicycle major’s plan to become a leader in the European Union (EU) market, the company said this week.
The first batch of around 200 units has been delivered to Germany, with further units planned for the EU in future.
“The shipment marks a step forward to establish HMC as the largest fully integrated e-bike company in Europe, with a well-oiled manufacturing capability in India and brightens the prospect of India as a reliable supplier to the market other than China,” HMC said in a statement.
Hero International – the European bike and e-bike arm of HMC – said the company’s aim is to achieve an organic revenue of up to EURO 300 million by 2025, while adding EURO 200 million from inorganic growth.
“The first HNF branded bike built in India has landed on European shores. This is a big moment for the company and will demonstrate its ability to disrupt the market in Europe,” said Jeff Weiss, the London-based CEO of Hero International.
“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,” he said.
To cater to this growing demand for bikes and e-bikes, Hero said it established its digital supply chain company – Hero Supply Chain (HSC) – a team specialised in logistics management and digital transformation. HSC is designed to act as a consolidated buying house for HIT and cater to the original equipment manufacturer (OEM) demand in the EU for supplies from India. Hero’s latest venture, Spur, will manufacture key components for bicycles in house, a move aimed at further derisking the value chain.
