Hero Cycles, of India’s HMC Group, has successfully delivered its first batch of Made in India e-bikes to Europe. The consignment made under Hero International’s (HIT) HNF brand, has initiated the Indian bicycle to become a market leader in the European Union (EU).
The first batch of roughly 200 units was delivered to Germany, with more units expected to be delivered to the EU in the future. The consignment is a step toward establishing HMC as Europe’s largest fully integrated e-bike company, with a good manufacturing capability in India. It also brightens India’s potential as a reliable market supplier other than China, according to HMC.
HMC’s European bike and e-bike arm, Hero International, stated that the company’s goal is to reach annual sales of up to EURO 300 million by 2025, with a market expansion of up to EURO 200 million.
“E-bikes are clearly a big part of the future, with sales in Europe anticipated to reach over 15 million units by 2030. We are optimistic that Hero will become a market leader in this area by combining HNF’s technical and design experience with Hero’s production capabilities, particularly with the 100-acre Cycle Valley in Ludhiana”, said Jeff Weiss, the London-based CEO of Hero International.
The company thinks that its most recent shipment of e-bikes to Europe addresses the COVID-19 pandemic’s impact on the bicycle supply chain.
Consumer demand for bikes and e-bikes skyrocketed as supply dropped and component lead times increased drastically.
As most of their competitors are experiencing supply issues, our collaboration with HSC ensures that bikes and e-bikes are available at all times, even during peak demand. Weiss added that because HMC is also scaling up component production in-house, the company’s reliance on external component suppliers will be reduced.
By acquiring Avocet Sports in Manchester, the UK in 2016, HMC established its European arm to cater to the expanding European market. With over 22% market share in the kid’s bike segment, Avocet Sports Insync Bikes is one of the leading bike distributors in the UK.
