​​Hero Motors raises funding from GEF Capital Partners to focus on e-bike components

Hero Motors Limited, the Gurgaon-based auto-components company of the HMC (Hero Motors Company) Group, with a focus on gears, transmissions and bike powertrains, has raised funds from private equity firm GEF Capital Partners in lieu of a minority stake The automaker will use these funds for growth with a focus on serving the original equipment manufacturers (OEMs) in the electric mobility sector by setting up additional technology centres for R & D. It will also expand its presence globally by opening new facilities.