New Hero Motors plant inaugurated at Ludhiana’s Hi-Tech Cycle Valley
14 April 2021: Punjab Industries Minister Sunder Sham Arora recently inaugurated a new plant of Hero Motors Co. at Hi-Tech Cycle Valley in Dhanansu village (Ludhiana). He was accompanied by Hero Motors Co. CMD Pankaj Munjal, Punjab Small & Export Corporation Chairman Gurpreet Singh Bassi, Punjab Medium Industrial Development Board Chairman Amarjit Singh Tikka and others.
Arora said that the new hi-end export-oriented manufacturing plant at the cycle valley will generate thousands of jobs, while marking a major leap for the ‘Make in India’ initiative. The opening of the new plant by Hero Motors marks the first phase of operationalisation of the cycle valley.
While speaking on the occasion, Pankaj Munjal informed that the cycle valley is a critical element in establishing Hero Motors’ global engineering and manufacturing chain with R&D facilities centred in Europe and manufacturing in India. He said that Hero E-Cycles Ltd. factory is a major component of Hero Motors ambition to make India a global manufacturing hub of premium bicycles and e-cycles.
PSIEC is in the process of developing a world-class state of the art Hi-Tech Cycle Valley in an area of 383 acres at Dhanansu, District Ludhiana with an approximate cost of Rs.500.00 Crore which would attract new investors not only from within the country but also overseas. The project will create a global hub for manufacturing products related to predominantly mobility domain such as Automobile, Auto Components, Bicycle, Bicycle Parts, Electric Vehicles such as E-Bikes, E-Rickshaws, Lithium ion batteries, etc.