Hero Cycles Targets E-Bike Market
NEW DEHLI, India – After launching its Lectro e-bike brand first at Eurobike followed by the Cycle show in Birmingham Hero Cycles has recently also premiered it on its home market India. Here the biggest producer of India told more on its global plans for electric bicycles.
In India Hero Cycles launched four Lectro e-bike models with retail prices ranging from INR 42,000 to 83,000 (€ 585 to € 1,160). The company has allocated some major investments in its entry of the e-bike market. These investments involve the set-up of Hero’s Global Design Centre in Manchester, procuring technology as well as the installation of a separate assembly line in its BSH facility in Sri Lanka.
Next to that, the company is still looking for a manufacturing base in Europe. This was pointed out by Pankaj Munjal, Chairman and Managing Director of Hero Cycles Limited at the Lectro launch party.
Production start in Europe
As for Europe Hero Cycles’ Design Center in the UK will be officially opened on 26th January, 2017. This could soon be followed by an announcement on the production start in Europe. For that Hero managers visited four Eastern European countries including Poland and Bulgaria recently. Here the company officials were looking for possibilities to enter in a Joint Venture with local manufacturers. This has to be to finalized in the first quarter of 2017.
E-bikes just starting in India
In India Hero Cycles is among the first of the bigger producers to start with e-bikes. On this start Pankaj Munjal said, “This is still a nascent segment in India but has huge potential. Lectro is designed and developed for the European market. With it here in India we are aiming at bringing about a shift in consumer behavior and spark the e-bike segment.”