Hero Motors Ltd Partners with SchmiedeTechnik Plettenberg for Global Powertrain Components

Hero Motors Ltd has formed a joint venture with Germany's SchmiedeTechnik Plettenberg to produce forged powertrain components in India. The facility will be located in Ludhiana's Hero Industrial Park, leveraging their R&D and manufacturing strengths to capture the global market.

Hero Motors Ltd has announced a strategic partnership with SchmiedeTechnik Plettenberg, a prominent German metallurgy and forging company, to produce forged powertrain components in India. This joint venture will operate out of Ludhiana's Hero Industrial Park, positioning itself among other key automotive and EV manufacturing units including HMC HIVE, HYM, and Spur Technologies.

The alliance aims to capitalize on Hero Motors' research and development expertise to secure a significant stake in the global powertrain components market. According to Pankaj M Munjal, the Chairman of HMC Group, the collaboration with SchmiedeTechnik Plettenberg is anticipated to be a game-changer due to the strong R&D and manufacturing capabilities of both entities.

Cornel Mueller, the Chairman and CEO of STP, emphasized the opportunity to strengthen global reach and optimize cost efficiencies, while promoting knowledge exchange and best practices between Germany and India. This move signifies Hero Motors' diversified interests that span automotive components, e-mobility, cycles, real estate, and premium retail.

(With inputs from agencies.)