New Delhi: Auto component maker Hero Motors on Monday said it has acquired a strategic stake in UK-based gearbox design technology firm Hewland Engineering for an undisclosed amount.

The acquisition will create a competitive single-source company that can be a source for original equipment manufacturers (OEMs) in North America, Europe and the Middle East to design and manufacture high-quality transmission products, particularly in the emerging electric vehicle segment. Hero Motors India (HMC) in a statement:

He added that HMC’s access to Hewland’s established motorsport customer base in the UK will enable it to further strengthen its combination of products and services and aggressively pursue its objectives, particularly in the electric passenger car transmission segment. Looking for global OEM and Tier 1 supplier opportunities.

Commenting on the acquisition, Pankajajaja M Munjal, Chairman and Managing Director, HMC, said, “This investment marks an important strategic turning point for us in the gearbox product space. Combined with our high-volume manufacturing capabilities, we will be able to serve OEMs and Tier 1 suppliers around the world. The ability to provide full-flow transmission solutions.

Munjal “We will continue to invest in the UK as it is an important center of electric vehicle and cycling activity, as well as Hewland’s established racing customer base.”

Hewland Engineering Wililiamm Hewland said, “Over the past decade years, Hewland It has built significant strengths in transmission design and manufacturing, integrated structural and gear system analysis, and efficiency modeling capabilities for internal combustion engine vehicles and increasingly electric vehicles. for vehicles.

He added, “Our new partnership with Herooo Motors provides an infusion of capital that will help us execute our strategic growth plans and enhance our capabilities and position in the electric vehicle market.”

Hewland He added, “By working closely with Herooo Motors, we will be a competitive single supplier offering complete program delivery from gearbox design to volume production for customers in North America, Europe and India.”