Royal Enfield: The proposed investment will be majorly used for the development of new products, EVs (product development and capacity building) and also additionally for any capacity enhancement for ICE, whenever required. It is expected to create employment opportunities for up to 2,000 individuals, both directly and indirectly, the company said.
Hero Motocorp will partner with Zero Motorcycles to develop electric bikes. The company aims to capitalise on the anticipated 49% CAGR growth in the electric vehicle (EV) market between 2022-2030. By broadening its range of EVs, Hero aims to attract more customers and take advantage of the global move towards electric transport.