Hero Motors, SchmiedeTechnik JV for Forged Powertrain Parts

New Delhi, Mar 18 (PTI) Hero Motors Ltd on Tuesday said it has entered into a joint venture pact with SchmiedeTechnik Plettenberg, Germany to manufacture forged powertrain components in India for global markets.

The joint venture's manufacturing facility is proposed to be established at Hero Industrial Park in Ludhiana, home to other key automotive and EV manufacturing units such as HMC HIVE, HYM, and Spur Technologies, Hero Motors Ltd (HML), a group firm of Hero Motors Company (HMC), said in a statement.

"With our strong R&D and manufacturing capabilities, this partnership with STP (SchmiedeTechnik Plettenberg) will enable us to capture a significant share of the global powertrain components market," HMC Group Chairman, Pankaj M Munjal said.

STP Chairman and CEO, Cornel Mueller said,"Partnering with HML strengthens our global footprint and enhances cost efficiencies. Beyond manufacturing in India, our goal is to foster cross-border knowledge exchange and integrate best practices between Germany and India."

STP is a renowned German forging and metallurgy specialist with six facilities across Germany, producing high-precision forged and machined components for automotive and industrial applications.

Hero Motors has interests in automotive components, e-mobility, cycles, real estate, and premium retail.