Mahindra Mahindra and Hero Electric Vehicle announced a strategic partnership in electric mobility which envisages the following arrangement between the two companies 10146; Contract Manufacturing by the Company at its Pithampur plant for Hero Electrics most popular electric bikes Optima NYX 10146; Utilising the Companys supply chain to help Hero Electric reach newer centres in the country 10146; Joint Product Development and Knowledge Sharing 10146; Electrification of Peugeot Motocycles portfolio through platform sharing Over the contract period of five years the value of the transaction is expected to be in the range of Rs 140 150 crore The synergy will Leverage Plant Capacity utilization of the Company and help Hero Electric meet its growing demand for its EVs
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