Hero Motors and Germany’s SchmiedeTechnik Plettenberg (STP) have formed a joint venture to manufacture forged powertrain components in India for the global market. The new factory will be established at Hero Industrial Park in Ludhiana, Punjab.
Strengthening global footprint
STP manufactures high-precision forged and machined parts for industrial and automotive applications at six locations around Germany. Hero Motors, a division of Hero Motors Company (HMC), is a multifaceted company with a presence in premium retail, e-mobility, bicycles, real estate, and automotive components.
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STP Chairman and CEO Cornel Mueller said that “Partnering with HML strengthens our global footprint and enhances cost efficiencies. Beyond manufacturing in India, our goal is to foster cross-border knowledge exchange and integrate best practices between Germany and India.”
Technological collaboration
This joint venture is expected to improve cost efficiencies while expanding market reach and promoting technological collaboration between the two countries.
