India's largest two-wheeler manufacturer Hero MotoCorp Ltd. has inked a pact with California-based Zero Motorcycles Inc. to co-manufacture premium electric motorbikes.
"The collaboration combines the expertise of Zero in developing power trains and electric motorcycles with the scale of manufacturing, sourcing and marketing of Hero MotoCorp," the company said in a press release on Monday.
The partnership comes a few months after Hero MotoCorp approved an equity investment of up to $60 million in Zero Motorcycles.
The U.S.-based firm makes electric motorcycles and powertrains.
Hero is already in the electric mobility space, through its brand Vida, which currently makes only electric scooters.
Shares of Hero MotoCorp Ltd. gained over 1% to Rs 2,486.45 apiece, compared to a similar upmove in the NSE Nifty 50.
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