Hero bets big on new bicycle component manufacturing unit

Published on Aug 12, 2022 02:24 AM IST

Hero’s subsidiary Spur Technologies’ facility aims to reduce Chinese imports; will also boost component exports of high-end bicycles, meet local demand

Aiming to bring down dependence of indigenous bi-cycle manufacturers on imported components, especially from the Chinese markets, premium bicycle component maker Spur Technologies, launched its first manufacturing unit in the state at Dhanansu e-cycle valley. (HT PHOTO)
Aiming to bring down dependence of indigenous bi-cycle manufacturers on imported components, especially from the Chinese markets, premium bicycle component maker Spur Technologies, launched its first manufacturing unit in the state at Dhanansu e-cycle valley. (HT PHOTO)
ByAneesha Sareen Kumar, Ludhiana

Aiming to bring down dependence of indigenous bi-cycle manufacturers on imported components, especially from the Chinese markets, premium bicycle component maker Spur Technologies, launched its first manufacturing unit in the state at Dhanansu e-cycle valley here on Thursday. The firm is a subsidiary of Hero Motors Company and the manufacturing at the new unit is set to reduce imports from China for select components used in high-end bicycles. Production from the new unit will also boost exports and cater to local demand as well, company officials said.

As per the company, new manufacturing unit has been built with an investment cost of 60 crore and will roll out front suspension forks, double wall alloy rims, BB cartridges, alloy stems and freewheels (single speed) in the state-of-the-art e-cycle valley.

Ludhiana, which houses 90% of the India’s bicycle manufacturing, is largely dependent on China for some parts used in manufacturing e-cycles.

Pankaj Munjal, chairman and managing director, Hero Cycles said the bicycle component industry must step up its game in the global arena by transforming from a steel-major to aluminum-focused manufacturing for light weight parts, a trend which has been prevalent in the European Union, North America and Japan for more than two decades now. Innovation with materials like carbon and other composites along with creation of patents and other intellectual property needs to be done locally to maximise the value addition, he said.

Manufacturing hi-end aluminium components for both domestic and global markets will be a key focus of the new plant, said Abhishek Munjal, director, Hero Cycles. As India is gearing up to displace China and South-East Asia to be the leader in bicycle and electric bicycle exports, the key would be localisation of all key electrical and mechanical components within India to eliminate dependence on China, Taiwan, and Europe.

Hero Cycles, which first created the hi-tech “Cycle Valley” factory called Hero eCycles Pvt. Ltd. as an exports and e-bicycles hub, built a localisation program with global Joint Ventures and own research and development to start local production of components.

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