[rajeev k]

Credit & Link to Full Article

The Hero Group has unveiled a new global entity, Hero Eco, under which its multiple businesses will be consolidated. It has also acquired Ultra Motors of the UK.

Ultra Motors has operations in the UK, Germany, Taiwan and China, with a distribution network across 22 countries, including Switzerland, Benelux, Japan and Australia.

“This new brand identity gives Hero the opportunity to present a single powerful and dynamic face to customers, stakeholders and partners around the world,” says chairman Vijay Munjal.

Hero has acquired a 100-percent stake and will take over the operations of Ultra’s mid to high-end A2B and F4W brands, including pedelecs, folding bikes, e-bikes and e-scooters. The acquisition is expected to catapult Hero Eco as a company with the largest range of electric two-wheeler vehicles in the world, according to managing director Naveen Munjal.

[rajeev k]

Some product pictures from Ultra Motors site.

[hellmet]

What I'd be most looking forward to are their range of foldable bicycles ... Currently Dahon and some other manufacturer I forget the name of, sell their foldables, but they are imported and are slightly expensive, I hope this will bring in some much needed choice for foldables in the market.

[jkdas]

I remember seeing Ultra Electric bike showrooms here and there in Kerala; same company?

[vinu_h]

To me, this acquisition seems more like a necessity to Hero than just being able to offer and have one more item on the menu, especially since most Indian companies are wanting to demonstrate that they are socially responsible(CSR).