Hero Cycles Ltd is planning to set up a manufacturing unit in Industrial Cycle Valley in Ludhiana district of Punjab. The company plans to invest ₹ 2000 million and another ₹ 2000 million will be mobilized from vendors to develop the plant. The company has been allotted 100 acres of land by the Punjab State government.
It will manufacture hi-tech cycles, e-bikes, e-vehicles and light engineering goods at the new plant. It will have an approximate production capacity of four million bicycles per annum. As of January 2019, the project is in planning stage. It will go operational by 2023.
|Project Cost (in million)||₹400|
|Project Capacity||4 million bikes per annum|