Belgian Cycling Factory, a leading cycling brand in Europe and owner of Ridley and Eddy Merckx, and HMC HIVE, a Hero Motors Company and India's largest last mile and alternate mobility solution provider, today announced a partnership to jointly explore business opportunities worth US 36 million dollars by 2026. This collaboration marks a significant milestone for both companies, paving the way for synergies and innovations that will reshape the bicycle and e-bike landscape across the globe.
As part of the partnership, Belgian Cycling Factory and HMC HIVE will work together to expand their existing range of products and build a combined portfolio of bicycles with advanced designs, product features, and tech-enabled solutions that will set new benchmarks for both personal and cargo mobility.
Jochim Aerts, CEO, Belgian Cycling Factory, stated, "I'm delighted to have HMC HIVE as a partner to support us in entering the e-bike market in India. Hero's E-bike Valley is one of the most integrated e-bike production facilities in the world, and their expertise and comprehensive offerings will be a significant asset in our efforts to build a complete e-bike lineup."
"This collaboration will further bolster HMC HIVE's capabilities and will also give us a lot of learnings to further improve our offerings to global customers. We will work with BCF on a range of products for both passenger and cargo variants," said NP Gupta,President & CEO, HMC HIVE.