Hero Cycles to invest around Rs 1,000 crore in e-cycles business

Hero Cycles' electric portfolio has been growing aggressively over the last 6 months

Hero Cycles is planning to invest around Rs 1,000 crore to support its e-cycles business. The money will be utilised for strengthening global design and R&D and for setting up a manufacturing unit. A part of the investment might also be used for building a strong retail distribution network.

Recently, the company partnered with Japan’s Yamaha Motor Co Ltd to launch the 'Lectro E-cycle powered by Yamaha', India’s first center motor E-cycle, which is priced at Rs 1.35 lakh, and targets adventure e-cycling in India. The high performance E-cycle powered by Yamaha is the latest addition to Hero Cycles' popular