SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD FEB 05
MCX SILVER MAR 05
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD FEB 05
MCX SILVER MAR 05
MCX CRUDEOIL FEB 19
MCX NATURALGAS JAN 25
USD/INR
EUR/INR
GBP/INR
JPY/INR

Christopher Wood remains bullish on Indian markets despite run-up; prefers real-estate sector

Global Markets: Asia shares pare losses as China economy rebounds

Oil prices extend gains after US inventory drop

Wrapping 2020 with a subtle depreciation- What’s on the cards for the Rupee in 2021?

Auto

Hero MotoCorp to invest Rs 10,000 crore in technology, electric vehicles, manufacturing, says CMD Pawan Munjal

Updated : February 19, 2020 06:28 AM IST

Pawan Munjal said two-wheeler EV is expected to be launched in 2021.

Hero MotoCorp invested a large sum of money in electric two-wheeler maker Ather.

Munjal said Mahindra is a few years ahead of his company and many other automotive companies when it comes to EVs.

Hero MotoCorp CMD and CEO Pawan Munjal on Tuesday said the company is looking at investing Rs 10,000 crore in technology, electric vehicles (EVs), and manufacturing.

“From Neemrana onwards, we have been setting up green factories, everything we have done after that is all green. But the stuff we did before that, I would like to turn that green too," Munjal told CNBC-TV18.

"We probably will not need capacities very soon to set up any more capacities very soon, but we would want to upgrade those, turn them green, and we are always looking out for the newest and the best and the most productive. So, we would need to put investment behind all of that stuff,” he said.

According to Munjal, this is the era of partnerships. He added: “We are always looking out if there is good technology available, if there are good partners available, if there is good match, then there could be partnerships and there will be investments behind those partnerships.”

On electric vehicles:

Munjal said Mahindra is a few years ahead of his company and many other automotive companies when it comes to EVs. They have been working on EVs for a few years and they have a few EV products too, he added.

"We are in early stages. We invested a large sum of money in Ather; that was our first big investment behind EVs, a clear intent that we as a company and this nation as well as the globe is going to head in that direction of EVs."

"We are working internally at CIT in our R&D, our engineers are working on EV. We are working on mass mobility products and those will take time to come. Also the ecosystem around EV is going to take time. So, we will be there well in time for the market to go for our EV products.”

Speaking about the two-wheeler EV launch, Munjal said he expects it to be launched in 2021.

You May Also Like

Tata Power Solar wins Rs 1,200 crore order to set up 320 MW project

Tata Power Solar wins Rs 1,200 crore order to set up 320 MW project

Audi Q2: Find out whether it’s an ideal entry-level SUV

Audi Q2: Find out whether it’s an ideal entry-level SUV

UltraTech Cement Q3 net profit jumps 122% to Rs 1,584 crore; Domestic volume growth at 14%

UltraTech Cement Q3 net profit jumps 122% to Rs 1,584 crore; Domestic volume growth at 14%

Trending on CNBC-TV18

Live TV

recommended for you