- It will give HMC access to Hewland’s established motorsport customer base in the UK
- It will also help to aggressively pursue opportunities among global OEMs and Tier One suppliers
Hero Motors Company said that it has acquired a strategic stake in UK-based transmission design technology firm, Hewland Engineering for an undisclosed sum. Hero Motors Company (HMC) said in a statement that 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.
It also said that 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. It will also help to aggressively pursue opportunities among global OEMs and Tier One suppliers.
Continuing to invest in the UK
HMC Chairman and Managing Director Pankaj M Munjal said that the investment represents a significant strategic inflection point for us in the transmission product segment. By combining Hewland’s comprehensive design and analysis capabilities with the ability to support high-volume manufacturing, the company is strongly positioned to offer full-stream transmission solutions to global OEMs and Tier One suppliers.
He added that the company is continuing to invest in the UK, as it is a significant hub for EV- and cycle-focused activities in particular, as well as for Hewland’s established motorsport customer base.
Hewland Engineering Chairman William Hewland said that this new collaboration with Hero Motors provides a capital infusion that will help to execute the company’s strategic growth initiatives, as well as enhance capabilities and presence within the EV market.
He added that in close collaboration with Hero Motors, the company will be a highly competitive single source for full programme delivery-from transmission design through to high-volume manufacture – for customers across North America, Europe and India.