Hero Eco from India, acquired Ultra Motor’s electric two wheeler division and the global operations including the sales activities in the USA, United Kingdom, and Germany are now operated by Hero Eco.
Hero Eco is part of the Hero Group based in New Delhi, India which since its establishment in 1958 has grown to become one of the largest two wheeler companies in the world with annual revenues over $5 billion. The Hero Eco business division focuses primarily on environmentally friendly products and the group’s international trading business. Some of the companies under the Hero Eco umbrella include Hero Electric (electric vehicles for the Indian market), Winn Bikes (bicycles), Hero Exports (automotive components and bicycle exports), and Mediva (medical mobility equipment). Hero Eco products are currently sold in over 80 countries globally.
Hero Electric began developing electric vehicles over ten years ago which resulted in the first electric scooter products launched in the Indian market in 2007. Since then the company has sold over 100,000 vehicles in India through its network of 250 Hero Electric dealers. With over 50% market share in the electric scooter market the company is the dominant player in India’s electric two wheeler market. The company has also been very active in promoting the electric vehicle industry through the formation of the industry association which successfully lobbied the government of Delhi to provide a 25% subsidy and more recently the federal government to provide a 20% subsidy on all electric scooter sales.
The acquisition of the Ultra Motor electric two wheeler business was a good strategic fit for several reasons. Over the past four years significant investment was made to develop the range of electric two wheelers which is now distributed in over 22 countries worldwide. Combined with the products in Hero Eco's bands including the F4W range of electric bicycles the company will now be able to offer the most comprehensive line of electric two wheelers in the world.
Additionally as a manufacturer of automotive products for over 50 years Hero Eco will be able to improve critical areas of the F4W business such as after sales service, total quality management, and on time delivery.
Hero Eco team is a passionate group of enthusiasts focused on transforming the face of modern electric transportation, one rider at a time.
We will provide quality products, services and experiences that delight customers, inspire employees, maximize value for shareholders and have a positive impact on society and our planet.