Synopsis
Pawan Munjal-led Hero MotoCorp is the market leader in internal combustion engine motorcycles and scooters, and has recently announced its foray into EVs. Hero Electric, run by Naveen, has claimed that only his branch of the broader Munjal family has the right to use the term ‘Hero’ for electric products, and no other family member has that right.
Hero MotoCorp has plans to launch its first EV in the fourth quarter of this fiscal.
Differences seem to be brewing between two factions of the Munjal family, with a top source close to the Pawan Munjal branch saying the decade-old ‘family agreement’ of the Munjals does not place curbs on