Hero Motors Limited Announces Joint Venture With Germany’s STP To Manufacture Forged Powertrain Components in India for Global Markets
New Delhi, March 18: Hero Motors Limited (HML) on Tuesday announced a strategic joint venture (JV) with SchmiedeTechnik Plettenberg (STP), Germany, to manufacture forged powertrain components in India for global markets.
The manufacturing facility — likely to commence production by mid-2026 — is set to be established at Hero Industrial Park in Ludhiana, home to other key automotive and EV manufacturing units such as HMC HIVE, HYM, and Spur Technologies. With a presence in international markets, this JV aims to bridge the gap in near-net shape precision forging, strengthening India’s position as a key player in advanced manufacturing, the companies said in a statement. New Traffic Fines: INR 10,000 Penalty for Drunk Driving, INR 1,000 for Not Wearing Helmet As Stricter Motor Vehicle Rules and Increased Penalties Come Into Effect Across India.
“With our strong R&D and manufacturing capabilities, this partnership with STP will enable us to capture a significant share of the global powertrain components market,” said Pankaj M Munjal, Chairman, HMC Group. STP is a renowned German forging and metallurgy specialist with six facilities across Germany, producing high-precision forged and machined components for automotive and industrial applications.
Cornel Mueller, Chairman and CEO, STP, said that beyond manufacturing in India, “our goal is to foster cross-border knowledge exchange and integrate best practices between Germany and India.” HML, an automotive components technology company, is engaged in highly engineered powertrain solutions and alloys and metallics, with R&D and manufacturing facilities spanning India, the United Kingdom, and Thailand.
According to Amit Gupta, MD and CEO, Hero Motors, both partners bring complementary strengths, and we are committed to making this venture “greater than the sum of our contributions”. Hero Motors is part of the HMC Group, a diversified conglomerate with interests in automotive components, e-mobility, cycles, real estate, and premium retail. Car Price Hike: India’s Largest Car Manufacturer Maruti Suzuki To Raise Prices of Vehicles by up to 4% Cent From April 2025.
The HMC Group has a $1.2 billion asset base and employs over 7,500 people across the globe. The group has recently expanded its manufacturing operations with the setup of world-class industrial park in Hi-Tech Cycle Valley, Punjab that will add 4 million units capacity, including 0.5 million units of E-Cycles.
(The above story first appeared on LatestLY on Mar 18, 2025 12:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
