Hero Motors Plans To Invest Rs 2,000 Crore By 2020
The company is developing e-bikes with Yamaha.
So as to scale up tasks, Diversified gathering Hero Motors Company is wanting to contribute Rs 2,000 crore over its accommodation, auto segments and bikes organizations before the finish of 2020. Rs 1,400 crore will be furrowed into Munjal Hospitality, while the rest of the assets are reserved for the car parts and bikes organizations.
The organization is creating e-bicycles with Yamaha. It is likewise wanting to procure a 30% stake in a German e-bicycle producer.
Pankaj M Munjal, Managing Director of Hero Cycles, stated, “We will dispatch the e-bicycles we are creating with Yamaha towards the center of this current year. Independently, we are likewise during the time spent getting stake in a German e-bicycle producer. The last understanding ought to be marked this monetary year. For us, the future lies in e-bicycles.”
“The market for e-bicycles in India is as of now minute, yet holds colossal potential. The endeavor ought to create income of Rs 2,000 crore throughout the following couple of years,” he included.