Hero Motors and STP Forge Joint Venture for Powertrain Components!
By Ashutosh Arora
Hero Motors and Germany’s SchmiedeTechnik Plettenberg (STP) have entered into a strategic joint venture to manufacture forged powertrain components in India for the global market. The new production facility will be set up at Hero Industrial Park in Ludhiana, Punjab, marking a significant milestone in the companies’ collaboration.
STP, known for its high-precision forged and machined parts for industrial and automotive applications, operates across six locations in Germany. Hero Motors, a key division of Hero Motors Company (HMC), has a diverse presence spanning premium retail, e-mobility, bicycles, real estate, and automotive components.
STP’s Chairman and CEO, Cornel Mueller, highlighted that this partnership would strengthen their global presence and enhance cost efficiencies. “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,” he stated.
The joint venture aims to improve cost-effectiveness while simultaneously expanding market reach and promoting technological collaboration between India and Germany. This collaboration is poised to bring about advancements in manufacturing practices and bolster both companies’ capabilities in the global powertrain component market.
