India's Biggest Bike Maker Enters E-Bike Market with Take-Over of Ultra Motor's Brand Names

Hero, India's biggest bike maker, brings itself at the centre stage of the global electric bike business. On December 28 the Ludhiana based company announced the take-over of the assets, the brand and the team of theLondon, UK headquartered Ultra Motor Ltd. “This acquisition provides us excess to Ultra Motor's existing range, distribution network, designs and presence in hi-end markets,” said Naveen Munjal (photo), Managing Director of Heroeco Vehicles Pvt Ltd.; Hero's subsidiary that currently...