Hero Group Acquires British Ultra Motors Electric Scooter Maker


Hero Group has shown a serious changeover over its past identity. It all started with the disassociation with Honda after which it launched two new products namely – Hero Impulse motorcycle and Hero Maestro gearless scooter.

We all though this was it for the brand and now it will focus on its future product line-up rather than doing something out of the box. But to our surprise Hero Moto has recently acquired a British electric two-wheeler manufacturer, Ultra Motors.

This is a big news as it wasn’t expected from the brand that it will take any such step. At the moment where it was supposed to be concentrating more on new launches, it is busy acquiring other firms.

Hero MotoCorp Acquires Ultra Motors

Vijay Munjal, who leads Hero Eco(Hero Group’s subsidiary consisting Hero Electric, Hero Exports, Hero Cycles, Mediva, Winn and Hero Ecotech) has announced that they have acquired Ultra Motors, a british electric two-wheeler maker, for an undisclosed amount.

Naveen Munjal, Hero Eco Managing Director said, “The acquisition of Ultra Motors is a giant step forward in setting global footprints for the group. This will give us an exposure to all the markets where Ultra Motors were present and will strengthen Hero’s brand globally,”

For the Hero Eco group of companies, the company will spend an appreciable 450 Crore INR within the next five years. They are also planning to enter the North American market and will probably set up a new plant in the next 18 months.

Munjal Said, “Hero Eco has acquired Ultra Motors in UK. This will give us an exposure to all the markets where Ultra Motors were present and will strengthen Hero’s brand globally. Ultra Motors has 3 plants and is present in 6 countries with sales networks in 22 nations across the globe. This all will come under Hero Eco now,”

In the recent past Ultra Motors was in a venture with Hero in India but at a later point in time they parted ways. As of now, Ultra Motors’ manufacturing base is located in Taiwan along with two more facilities in China.

Hero Eco Chief Executive Officer Mr. Sohinder Gill said, “Eventually, the contract manufacturing activities of the two Chinese plants will shift to India. However, it will take at least 6-8 months to proceed in that direction,”

Now the company will enter the market of high-end bikes under the brand, Hero Winn and seeks a massive turnover of Rs. 1500 Crore over the coming 5 years.

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