Hero Electric's new Electric Scooter

Hero Electric which is a known part of Hero Group of Companies, is planning a new electric scooter to be assembled on foreign soil. Hero Electric will have a tie-up with the local players in overseas markets where it will assemble E-Sprint, Maxi, Optima Plus, Wave Dx and Wave Dx Extra Mile. Hero Electric Managing Director Naveen Munjal stated that they are basically looking at assembly units in overseas markets, mainly in Western Europe and North America, in collaboration with local manufacturers. Within next 12 months they will be entering into some such agreement. The company will sell the products under its own brand umbrella and will not enter into any contract manufacturing. Hero Electric has also entered into joint venture with Canadian battery maker, Electrovaya, to manufacture lithium-ion batteries in India.The venture is expected to be set up within the next six weeks, with financial details and a potential location for a manufacturing facility to be disclosed by then. Bajaj Pulsar 135 and Yamaha R15 are the most popular bikes in India.