Hero MotoCorp Ltd., India's largest two-wheeler maker, can use the 'Hero' trademark to sell its upcoming electric vehicles, an arbitration tribunal has ruled.
In a regulatory filing on Thursday night, the Splendor maker stated that the tribunal has ruled in its favour regarding the use of the trademark. Hero Electric Pvt. Ltd. had sought an injunction against Hero MotoCorp using the 'Hero' trademark for its electric vehicles.
"Significantly, the arbitration tribunal emphasised on the investments to the tune of Rs 400 crore made by Hero MotoCorp on business of electric vehicles and expenses of almost Rs 7,000 crore on brand building of Hero in the past 10 years," the company stated.
The tribunal has found the case of Hero Electric unmerited in the interim, the filing stated. "The tribunal would now conclude the matter after final consideration of the case, Hero MotoCorp said.
The two-wheeler major has postponed the unveiling of its first electric vehicle scheduled for July till the festive season this year.
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