The joint venture is the next step in the strategic alliance forged between Hero and Yamaha in September 2019 to work together in the e-cycle segment.
The JV facility would come up in Punjab and start production by November 2022. The plant would have a total installed production capacity of one million units.
“Our combined strengths – Hero’s expertise in value-focused manufacturing and Yamaha’s technical expertise, global reach and access to future technology – are a potent recipe for success,” Hero Motors Company (HMC) Group Chairman & Managing Director Pankaj Munjal said.