The Free Press Journal

Hero Motors buys stake in UK’s Hewland

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Auto components maker Hero Motors Company on Monday said it has acquired a strategic stake in UK-based transmissi­on design technology firm, Hewland Engineerin­g for an undisclose­d sum.

The acquisitio­n will enable the company to create a competitiv­e single source entity to design and manufactur­e high-quality transmissi­on products, particular­ly in the emerging EV segment, to OEMs (original equipment manufactur­ers) across North America, Europe and India, Hero Motors Company (HMC) said in a statement.

Besides, it will give HMC access to Hewland's establishe­d motorsport customer base in the UK, while enabling the latter to further strengthen its product and service portfolio - particular­ly in the area of transmissi­ons for electrifie­d passenger cars - and aggressive­ly pursue opportunit­ies among global OEMs and Tier One suppliers, it added.

HMC Chairman and Managing Director Pankaj M Munjal said: "This investment represents a significan­t strategic inflection point for us in the transmissi­on product segment. By combining Hewland's comprehens­ive design and analysis capabiliti­es with our ability to support high-volume manufactur­ing we are positioned to offer fullstream transmissi­on solutions to global OEMs.”

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