Hero Motors Limited, incorporated in 1998 (with multiple name changes culminating in its current name in 2004), is a fully integrated powertrain systems provider. It offers end-to-end capabilities to design, prototype, validate, develop, and deliver system-level transmission solutions for both electric and non-electric powertrains.
The company operates through two segments: (1) Powertrain Solutions and (2) Alloys and Metallics (A&M). Powertrains are integrated systems that propel vehicles by converting energy into motion and include components such as the engine or motor, energy storage systems, transmission, driveshaft, and related parts that deliver power to the wheels.
Hero Motors began operations in 2001 via the A&M segment, focusing on sheet metal component manufacturing and machining of casting and other sheet metal components. It later expanded into powertrain solutions, including partnering with US-based Enviolo, which owns patented continuous variable planetary transmission (CVP) / continuous variable transmission (CVT) technology. In 2021, the company formed a joint venture with Yamaha Motors (Japan) to manufacture electric motors, with operations commencing in 2022.
Growth initiatives include a transmission manufacturing facility launched in Samut Prakan, Thailand in 2023 to expand gearbox supply in the ASEAN region, and the 2023 acquisition of STPL (focused on components for high-end bikes and e-bikes). The company also ventured into an electric drive unit (EDU) division for micro-mobility. Hero Motors is planning an IPO of up to Rs 900 crore, comprising a Rs 500 crore fresh issue and up to Rs 400 crore offer for sale.
