The Inauguration of the manufacturing facility of HYM Drive Systems, a joint venture between Hero Motors Ltd. and Yamaha Motors Co. (Japan), took place on the 15th of December, 2022, at Hero E-Cycle Valley in Ludhiana. The new facility was inaugurated by Pankaj Munjal, Chairman of Hero Motors Company, in presence of senior executives from Yamaha Motor Co. (Japan), strategic partners and other stakeholders.
Hero Motors and Yamaha Motor Co. (Japan) entered into an agreement in October 2021 to create a Global E-Cycle (Electric) Drive Unit company at Hero E-Cycle Valley in Ludhiana. This joint venture is also the next step in the strategic alliance forged between Hero and Yamaha in September 2019 to work together in the E-Cycle product segment.
‘This manufacturing facility is a key component of our Joint strategy with Yamaha to design, validate and manufacture Electric Drive Units for global E-Cycle markets in India,’ said Pankaj Munjal, Chairman of Hero Motors Company.
Okubo Shingo, General Manager, Yamaha Japan, remarked, ‘We are delighted today to set up this facility and see our partnership with Hero start so efficiently despite pandemic challenges. This partnership is in line with our ambition of advancing into E-Cycle and meeting the needs of E-Cycle customers in a better way. We are excited to achieve this milestone.’
HYM Drive systems feature a state-of-the-art facility that includes a Hi-tech Motor Assembly line and in-house motor winding. It also gets end-of-line testing equipped with ODIN Software System for 100 per cent traceability. HYM will further start production in the first quarter of 2023 with a capacity of 3 lakh motors per annum in phase 1 with a capacity expansion plan to 10 lakh or 1 million in phase 2. The product would be sold to the global markets through Hero and Yamaha’s OEM network and will also be used in the Hero and Yamaha branded E-Cycles.