HMC HIVE, a Hero Motors Company, from its integrated e-cycle manufacturing facility at Hero Cycle Valley in Ludhiana, has announced its partnership with Belgian Cycle Factory, a leading cycling company in Europe and owner of brands Ridley and Eddy Merckx, to produce and export advanced Made-in-India cycles and e-bikes for the European markets.
This collaboration with a business opportunity worth US$36 million marks a significant milestone for both companies that will reshape the bicycle and e-bike landscape across the globe.
As a part of this strategic partnership, HMC HIVE and Belgian Cycle Factory will leverage synergies and innovations to expand their existing range of products and build a combined portfolio of bicycles with advanced designs and tech-enabled product features that will set new benchmarks for both personal and cargo mobility.
Belgian Cycle Factory also plans to roll out its range of cycles with cutting-edge technology, advanced materials, and stunning designs in India with Hero Cycle’s extensive retail presence.
Commenting on the partnership, Jochim Aerts, CEO, Belgian Cycling Factory stated, “I’m delighted to have HMC HIVE as a partner to support us in entering the e-bike market in India. Hero’s E-bike Valley is one of the most integrated e-bike production facilities in the world, and their expertise and comprehensive offerings will be a significant asset in our efforts to build a complete e-bike lineup.”
“Belgium Cycling Factory is a major force in the European bicycle industry and has continued to be a leading global brand for many years. This collaboration will further bolster HMC HIVE’s capabilities and will also give us a lot of learnings to further improve our offerings to global customers. We will work with BCF on a range of products for both passenger and cargo variants. Additionally, we will bring in next-gen connected features in our lineup, in line with European standards”, said NP Gupta, President & CEO, HMC HIVE