COLOMBO, Sri Lanka - Sri Lankan bicycle manufacturer BSH Ventures Pvt Ltd reports that it is only partially operational due to the current market conditions. The export-oriented site which was set-up to cater for the high-end bike market of Europe is presently being forced to serve the domestic market in order to remain operational.

GURUGRAM, India - E-bike and e-scooter manufacturer Hero Electric is entering a troubling phase as its dealers seek settlement of pending dues equivalent to around INR 5 billion (€270 million).

LUDHIANA, India - Indian bicycle OEM HMC Hive, a Hero Motor Company, has forayed into contract manufacturing with the signing of a €33 million partnership contract with Ridley and Eddy Merckx owner Belgian Cycling Factory (BCF). Under the contract, the HMC will supply 50,000 bikes and components for BCF over the next three years.

IWATA, Japan - A total of €2.5 million will be invested by Yamaha Motor and Hero Motors to open a facility for the production of e-bike mid-motors. The two companies announced this after signing a joint venture agreement.

LONDON, UK - India's Hero Motors Company appointed well known Jeff Weiss as its new CEO of the company's new European operation Hero International. Jeff Weiss joins Hero International from Madison-based Saris Cycling having worked in the bike industry for 20 years in senior roles including at Trek and Dorel Sports.

NEW DELHI, India - To expand their footprint on the high-end European e-bike market, India's largest bicycle producer Hero Cycles Ltd acquired a strategic stake in HNF Group.