Schedule a Call Back
Belgian Cycling Factory, HMC HIVE announce strategic partnership to invest $36 mn by 2026
Industry News- Jan 24,24
As part of the partnership, Belgian Cycling Factory and HMC HIVE will work together to expand their existing range of products and build a combined portfolio of bicycles with advanced designs, product features and tech-enabled solutions.
Belgian Cycling Factory, a leading cycling brand in Europe and owner of Ridley and Eddy Merckx, and HMC HIVE, a Hero Motors Company, and India’s largest last mile and alternate mobility solution provider, today announced a strategic partnership to jointly explore business opportunities worth $36 million by 2026. This collaboration marks a significant milestone for both companies, paving the way for synergies and innovations that will reshape the bicycles and e-bikes landscape across the globe.
As part of the partnership, Belgian Cycling Factory and HMC HIVE will work together to expand their existing range of products and build a combined portfolio of bicycles with advanced designs, product features and tech-enabled solutions that will set new benchmarks for both personal and cargo mobility.
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.
“HMC HIVE has been able to position itself as the preferred partner for leading domestic and international brands for providing holistic last mile and alternate mobility solutions. Our state-of-the-art facility in Ludhiana, spread over 100 acres, is focused on producing electric vehicles for both India and International markets. Our strong focus on processes and people, while keeping customers at the core has been a hallmark of our values. He further added the new and improved range of products will be equipped with advanced telematics and connectivity features for both passenger and cargo products.”
Related Stories
Auto & Auto Components
Belgian Cycling Factory, HMC HIVE announce strategic partnership to invest $36 mn by 2026
As part of the partnership, Belgian Cycling Factory and HMC HIVE will work together to expand their existing range of products and build a combined portfolio of bicycles with advanced designs, produ..
Read moreAuto & Auto Components
Budget 2021's focus on economic revival to increase demand for automobiles
While voluntary vehicle scrapping policy, augmenting public transport system, etc were positives of the Budget 2021-22, some feel that increasing duties on auto components would increase production ..
Read moreRelated Products
Tata Motors unveils facilities for development of Hydrogen propulsion tech
AUTO COMPONENTS & ACCESSORIES
Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more
Tata Motors plans petrol powertrain for Harrier and Safari SUVs
AUTO COMPONENTS & ACCESSORIES
Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more
Electric Vehicle Charger
AUTO COMPONENTS & ACCESSORIES
RRT Electro is engaged in manufacturing of customized Power Electronic Products over two decades having capability to Design, Develop, Prototyping, Regulatory Compliance testing & Certification, Manuf Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
