Hero Electric and Mahindra Group have together rolled the world's first electric two-wheeler, the Optima, from the Pithampur factory as part of their strategic partnership to promote the growth of electric vehicles. Both companies last month announced a five-year partnership worth around Rs 150 crore.
With the help of the joint partnership with Mahindra Group, Hero Electric aims to produce one million electric vehicles annually by the end of this year.
Under the partnership, both the companies will also produce and supply chain develop and share a platform for electric two-wheelers.
Mahindra Group will manufacture Hero Electric's Optima and NYX scooters at the manufacturer's Pithampur facility. Under the joint venture partnership, the two companies will also electrify Mahindra's Peugeot Motorcycles portfolio. During last month's announcement, Rajesh Jejurikar, Executive Director of Auto & Farm Sectors at Mahindra and Mahindra's, said: "Peugeot Motorcycle has ambitious plans in the field of electric vehicle mobility in several regions of the world and especially in Europe."
Together, both companies aim to create a seamless communication channel to provide knowledge sharing among the R&D teams to build new products and technologies. This will be done with the Indian and global markets in mind, which will help the growth of electric vehicles. Announcing the partnership last month, Naveen Munjal, CEO of Hero Electric, said: "Through this partnership, we look forward to further enhancing our manufacturing capabilities to meet demand and leverage Mahindra Group's strong supply chain to reach new positions in the country".
In a separate development, Hero Electric recently joined hands with ReadyAssist, a 24/7 roadside assistance company, to train and upskill 20,000 mechanics for servicing electric vehicles in the country. The partnership is part of the EV manufacturer's Private Garage Owners (PGO) initiative.