Hero Electric has partnered with the Mahindra Group to promote electric vehicle (EV) mobility
As part of the partnership, Mahindra Group will produce Hero Electric’s Optima and NYX electric vehicles at its Pithampur plant in Madhya Pradesh. The transaction is expected to be worth Rs 1.4-1.5 billion over the contract period of 5 years. As per the company’s statement, Hero Electric will meet its demand of manufacturing over 1 million EVs per year with this partnership and the expansion of their existing Ludhiana facility. The collaborative effort is expected to bring value to both parties through the optimisation of costs, timelines, and shared knowledge.