Hero Electric

Hero Electric and Electrovaya signs MOU for lithium-ion batteries

Hero Group's 100 per cent subsidiary Hero Electric would source batteries for its two-wheeler category from the Canada-based battery maker, Electrovaya under an agreement signed by both firms on 8th December 2009. The Memorandum of Understanding (MoU) between both firms is yet to take final shape which is expected within one month.

The Canadian firm and Hero Elecric would establish a joint venture company in India for manufacturing lithium-ion batteries in India for using in Hero's own products besides selling other electric vehicle makers in the domestic market.