Tribune News Service
Chandigarh, October 28
Automotive component manufacturer Hero Motors and Yamaha Motor Co. (Japan) today announced they have entered into an agreement to create a global e-cycle drive unit company. The joint venture will set up the manufacturing facility in Hero E-Cycle Valley at Ludhiana and expects to start production by November 2022.
It will have a capacity of 1 million drive units in future. In addition to the Hero and Yamaha branded e-cycles, the joint venture will use the OEM networks of Hero and Yamaha for the sale of drive units in global markets.
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