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New Delhi, <keyword id="6357252" type="General" weightage="20" keywordseo="hero-Motocorp" source="Orion">Hero Motocorp</keyword> share price slumped more than 4 per cent after the Enforcement Directorate carried out searches at the residence of company Chairman <keyword id="87849" type="General" weightage="20" keywordseo="Pawan-Munjal" source="Orion">Pawan Munjal</keyword>. <keyword id="7029" type="General" weightage="20" keywordseo="Hero" source="Orion">Hero</keyword> Motocorp share was trading at Rs 3,066, down 4.3 per cent on BSE. In troubles for Hero Motocorp chairman Pawan Munjal, the Enforcement Directorate (ED) on Tuesday carried out searches at his residence and several other locations. According to ED sources, the agency sleuths carried out searches at the premises of Munjal and 10 others. The source said that the financial probe agency action was based on the complaint by the Directorate of Revenue Intelligence (DRI) case against Munjal. The DRI team had found foreign currency from Munjal's premises, the source claimed. However, the officials of the ED remained tight-lipped on the case and searches against Hero Moto Corp chairman. san

Hero Motocorp stock slumps after ED searches at Pawan Munjal's residence

The ED said that the three properties belonging to <keyword id="6320" type="General" weightage="20" keywordseo="Munjal" source="Orion">Munjal</keyword> were attached under the Prevention of Money Laundering Act, 2002. The ED probe found that Munjal got issued "foreign exchange or foreign currency" in the name of other persons and thereafter utilised the same for his personal expenditure abroad. "The foreign currency or foreign exchange was drawn from authorised dealers by an event management company in the name of various employees and thereafter handed over to Munjal's relationship manager," the ED said. It said that the relationship manager carried such foreign currency or foreign exchange in cash or card secretly for the personal expenditure of Munjal during his personal or business trips. "The modus was adopted to override the limits of US$ 2.5 lakh per annum per person under the Liberalised Remittance Scheme," the ED said. The ED had earlier conducted search operations on August 1 with respect toMunjal and related entities or persons, and seized valuablesworth Rs 25 crore along with digital evidence and other incriminating documents. "The total value of seizure and attachment stands at about Rs 50 crore," the ED said. The ED case is on the basis of a charge sheet filed by Directorate of Revenue intelligence (DRI) against Munjal and others for taking foreign exchange or currency out of India illegally. The charge sheet alleges that foreign currency or foreign exchange equivalent to Rs 54 crore was illegally taken out of India.

ED attaches three properties of Hero Motocorp CMD & Chairman Pawan Munjal

New Delhi, The Enforcement Directorate on Tuesday conducted raids against <keyword id="6357252" type="General" weightage="80" keywordseo="hero-motocorp" source="Orion">Hero Motocorp</keyword> executive chairperson <keyword id="87849" type="General" weightage="80" keywordseo="pawan-munjal" source="Orion">Pawan Munjal</keyword> and others as part of a money laundering investigation, official sources said. The searches were carried out at premises located in Delhi and neighbouring Gurugram in accordance with provisions of the Prevention of Money Laundering Act (PMLA). The investigation stems from a Directorate of Revenue Intelligence (DRI) complaint against a person, allegedly close to Munjal, who was investigated on charges of carrying undeclared foreign currency. The <keyword id="65338" type="General" weightage="50" keywordseo="income-tax-department" source="Orion">Income Tax Department</keyword> in March last year raided Munjal and his company <keyword id="734729" type="General" weightage="80" keywordseo="hero-motorcorp" source="Orion">Hero Motorcorp</keyword>, the country's largest two-wheeler automobiles manufacturer, as part of a tax evasion investigation. Hero MotoCorp became the world's largest two-wheeler manufacturer in 2001, in terms of unit volume sales in a calendar year, and has maintained the title for the past 20 consecutive years. The company has presence across 40 countries spanning Asia, Africa, and South and Central America. PTI NES http://ptinews.com/images/pti.jpg "We bring the World to you" Disclaimer : This e-mail message may contain proprietary, confidential or legally privileged information for the sole use of the person or entity to whom this message was originally addressed. Please delete this e-mail, if it is not meant for you. MIN MIN

ED conducts raids against Hero Motors' Pawan Munjal

New Delhi, Apr 14 () Hero MotoCorp Chairman Pawan Munjal on Tuesday supported extension of lockdown saying the topmost priority is safety and well-being of the citizens while seeking a suitable stimulus package from the government for India Inc.He also called for scaling up efforts and contributions manifold to also ensure the well-being of the most affected section of society."I support the honorable Prime Minister's move to extend the lockdown till 3rd May, with the topmost priority being the safety and well-being of the citizens of our country," Munjal said in a statement.The decision to allow graded relaxation and partial opening of certain areas from April 21 that show improvement is also welcome, he added."While continuing to play its role in supporting the government through various means and measures, Corporate India looks forward to a suitable stimulus package from the government that will give a boost to our economy," Munjal said. At Hero MotoCorp, he said,"we remain committed to extending our resources to support the government and also safeguarding everyone in our larger ecosystem, including our employees and their families. Munjal further said,"at a time such as this, we all have to scale up our efforts and contributions manifold to also ensure the well-being of the most affected section of society." RKL RUJRUJ

Hero MotoCorp supports lockdown extension, seeks stimulus package for India Inc

Homegrown two-wheeler major <a href="http://www.businessinsider.in/searchresult.cms?query=Hero+MotoCorp+">Hero MotoCorp</a> is going to set up manufacturing units in Mexico, Argentina and <keyword id="6355226" type="COUNTRY" weightage="60" keywordseo="Brazil">Brazil</keyword> as part of the company’s global expansion plan. 
 
The company wants to make use of its new plant in <a href="http://www.businessinsider.in/searchresult.cms?query=Colombia+">Colombia</a> as a hub to export to nearby countries. Its first global manufacturing facility at Villa Rica, entailing a project investment of $70 million, became operational this week. 
 The New Delhi-headquartered <keyword id="6357252" type="COMPANY" weightage="80" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> has now become the first Indian two-wheeler manufacturer to set-up a production unit in <a href="http://www.businessinsider.in/searchresult.cms?query=Latin+America+">Latin America</a> after setting up the plant in <keyword id="15385" type="COUNTRY" weightage="40" keywordseo="Colombia">Colombia</keyword>. 
 "Going forward in terms of manufacturing facility, we are looking at some other countries in the region like Mexico, Argentina and Brazil," Hero MotoCorp's Chairman, Managing Director and CEO <keyword id="87849" type="PERSON" weightage="80" keywordseo="Pawan-Munjal">Pawan Munjal</keyword> told PTI. 
 
After being asked about other geographic locations that Hero was looking at for investment, especially in the US and Europe, Munjal said: "Right now there are no <a href="http://www.businessinsider.in/searchresult.cms?query=manufacturing+">manufacturing</a> plans there, but we could look at <keyword id="12925" type="ENTERTAINMENT" weightage="80" keywordseo="Africa">Africa</keyword> as a region where <keyword id="6354767" type="COUNTRY" weightage="40" keywordseo="Nigeria">Nigeria</keyword> is one possibility." 
 
Nigeria is the largest <a href="http://www.businessinsider.in/searchresult.cms?query=two-wheeler+">two-wheeler</a> market in Africa. 
 
When Munjal was asked about products that his company would make at the Colombian facility, he said: "It is starting with our entry-level product to the current biggest engine that we produce -- the Karizma. So it's a range from entry to (top-end)..." 
 
The company has set a target of selling 1.2 million two-wheelers in global markets by the year 2020. To meet this target, Hero is aiming to be present in 50 countries by that time. 
 
When asked whether there could be any impact of bankruptcy of Eric Buell Racing (EBR), Munjal said, "We are not changing our targets for 2020." 
 
The company CEO also said that the products Hero was developing together with EBR would now be completed by itself in India. 
 Hero MotoCorp sells its products in 24 countries including Sri Lanka, Nepal, Bangladesh, Egypt and <keyword id="6372909" type="COUNTRY" weightage="40" keywordseo="Turkey">Turkey</keyword>, as also in Peru, Ecuador and Colombia in <keyword id="26945" type="ENTERTAINMENT" weightage="60" keywordseo="South-America">South America</keyword>, among others. 
 
(Image: Indiatimes)

Hero MotoCorp is going global in speed!

Beating market estimates, India’s largest two-wheeler maker <keyword id="685322" type="ORGANIZATION" weightage="20" keywordseo="Hero-MotoCorp-Ltd">Hero MotoCorp Ltd</keyword> on Thursday posted a 58.62% jump in the net profit to Rs 763 crore for the second-quarter ended September 30.  Hero had recorded a net profit of Rs.481 crore a year ago. 
 
The company’s turnover rose 20.76% to Rs 6,915 crore for the reported quarter as compared to Rs 5,726 crore during the year ago period. 
 
The company's total sales during the quarter stood at 16,92,593 units in terms of volumes. 
 <keyword id="87849" type="PERSON" weightage="20" keywordseo="Pawan-Munjal">Pawan Munjal</keyword>, vice-chairman and managing director, <keyword id="6357252" type="COMPANY" weightage="20" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword>, said, “We are only beginning to see how strong an impact we can make on the market with our innovation and technological improvements. A concerted focus on costs has enabled us to have good margins.” 
 
"These numbers bode well for the festive season and we are looking at leveraging this momentum to ensure record retail sales in the month of October," he added. 
 
According to Munjal, with the new stable government at the Centre, the sentiment in the entire country has turned positive. 
 
"The rupee depreciation, which had adversely impacted several sectors, and pulled up the costs of essential commodities, has also more or less stabilised. We will continue to be innovative in tackling any extraneous pressures to protect our margins," he added. 
(Image: Hero MotoCorp)

Hero MotoCorp Q2 Net Profit Rises To Rs 763 Crore

New Delhi, Apr 23 () The country's largest two wheeler maker Hero MotoCorp has come up with a financial package to support its dealers who have been facing liquidity crunch due to nationwide lockdown amid the coronavirus pandemic.The package, announced by Hero MotoCorp Chairman Pawan Munjal at a digital Town Hall over video conference earlier this week, includes a revised pricing structure on new products, financial support towards the interest on dealer stocks and financing options from Hero FinCorp, the company's retail finance arm.  "We have revised the pricing structure that will enhance your profitability, and the new structure will be applicable on all dispatches post the lockdown. Additionally, I am also happy to announce financial support towards the interest on the dealer stock for the complete lockdown period of 41 days," Munjal said at the Town Hall.The event was attended by the company's dealers, sales and after sales staff and its senior leadership team.To support the dealers with liquidity for operating expenditure (OPEX), the two wheeler major has come up with a solution with Hero FinCorp, which would disburse an amount in line with the respective dealer's wage and rental liabilities at a subsidised rate of interest.Several company dealers confirmed the steps announced by the company to improve their liquidity position.Munjal has now addressed the company's dealers twice over video conference in less than a month since the lockdown was announced.In his first town hall held on March 28 Munjal had announced the company's support measures for the dealers to help them in liquidating the BS-IV stock and for manpower up-skilling at dealerships.Hero MotoCorp' sales network includes over 6,000 touch points, comprising around 1000 dealers, service centres etc, across the country.Auto dealers of various companies are staring at huge losses as the lockdown has hampered retail sales and they are saddled with the large BS-IV inventory.Already, Honda Motorcycle and Scooter India (HMSI) has come up with a slew of measures, including buyback of unsold BS-IV stock, in order to support its sales partners. The company has also released payments of around Rs 1,700 crore to its suppliers, dealers and service providers.  MSS   SHWSHW

Hero MotoCorp announces financial support to dealers amid lockdown

India is home to Asia’s second richest billionaire, the world’s costliest home and a bunch of millionaires. It is also home to some of the most well paid executives. 
 <keyword id="6355515" type="ORGANIZATION" weightage="80" keywordseo="Business">Business</keyword> Insider compiles a list of the highest paid <keyword id="6407546" type="COMPANY" weightage="80" keywordseo="CEOs">CEOs</keyword> across India. 
 
Kalanithi Maran 
 
Annual Salary: Rs 59.89 Crores 
 
It’s obvious that the most profitable television network in Asia would fill the pockets of its bosses. While the group’s TV channels and news publications are concentrated in South India, its FM channels and DTH services and enjoyed pan India. 
 
Kavery Kalanithi 
 
Annual Salary: Rs 59.89 Crores 
 
The wife of Kalanidhi Maran and Executive Director of Sun TV Network is the second highest paid executive. According to Fortune she is also the highest paid woman executive in India. 
 
Image credit: The Mint 
 
Naveen Jindal 
 
Annual Salary: Rs 54.98 Crores 
 
The Chairman of Jindal Steel and Power Ltd claims the third spot with an annual salary of around Rs. 55 Crores. Mr. Jindal is also well known for his efforts that led to the revision of the Flag Code of India which allows every Indian citizen the right to fly the National Flag 365 days a year. 
 
Kumar Mangalam Birla 
 
Annual Salary: Rs 49.62 Crores 
 
The current Chairman of the Aditya Birla Group is next in line. Kumar Mangalam Birla took over in 1995 at the tender age of 28 years after his father’s death. He then led the company to around 26 acquisitions in 17 yrs - the highest by an Indian company. 
 
Pawan Munjal 
 
Annual Salary: Rs 32.80 Crores 
 
The MD and CEO of Hero Moto Corp is the fifth member on the list. Pawan Munjal is the man behind the growth and success of the group. He is also a board member of the Indian Institute of Management, Lucknow. 
 
Brijmohan Lall Munjal 
 
Annual Salary: Rs 32.73 Crores 
 
The founder and Chairman of the Hero Group can also claim to be the president of Confederation of Indian Industries, the Society of Automobile Manufacturers in the past, and a member of RBI board. 
 The founder of the $32 billion <keyword id="6356323" type="UNKNOWN" weightage="80" keywordseo="Enterprise">enterprise</keyword> has been awarded with the Padma Bhushan. 
 
Sunil Kant Munjal 
 
Annual Salary: Rs 31.51 Crores 
 
Sunil Kant Munjal was appointed Joint Managing Director of Hero MotoCorp on Aug 17, 2011 for a period of 5 years. He was appointed on the board of directors in 2006 as a non-executive director. 
 
P R Ramasubrahmaneya Rajha 
 
Annual Salary: Rs 30.96 Crores 
 
While the name maybe Ramco Cement, the company has its hands into cement, mortar and wind power generation, all thanks to the Chairman and MD P R Ramasubrahmaneya Rajha who leads the company. Rajha has been associated with the group since its foundation in 1938. 
 
Image credit: Thynkfeed 
 
Shinzo Nakanishi 
 
Annual Salary: Rs 30.90 Crores 
 
Shinzo Nakanishi has been leading India’s largest auto manufacturer Maruti Suzuki since 2007. He was made the Director by Suzuki in 1999. 
 
 
Murali K Divi 
 
Annual Salary: Rs 26.46 crore 
 
Chairman and Managing Director of Divi's Laboratories Dr. Murali K Divi has 30 years+ of experience in the pharmaceutical industry. He is a member of several important medical associations like the American Pharmaceutical Association, American Cosmetic Society, American Chemical Society and American Institute of Chemical Engineers. 
 
Image credit: Forbes 
 
(Image credit: Indiatimes)

Top 10 highest paid CEOs of India

The High Court is also expected to hear the plea against Hero MotoCorp's forgery case on December 6. The <keyword id="66" type="General" weightage="20" keywordseo="Delhi" source="Orion">Delhi</keyword> Police filed an FIR against the company and its officials in connection with an old matter dating back before 2010. Regarding the FIR filed against the company and its officials, the company in its statement said: "This is to inform that it is an old matter pertaining to the year 2009-10 with a disgruntled service provider, Brains Logistics Pvt. Ltd. (Promoter - Roop Darshan Pandey)." It may also be noted that while the complainant has mentioned company officials in the complaint, no official has been named in the FIR. "In 2013, Hero MotoCorp also registered an FIR against Brains Logistics and the matter is ongoing before the competent court," the Hero MotoCorp statement added.

Delhi HC stays cheating case filed against Hero MotoCorp CEO Pawan Munjal

Two-wheeler major <keyword id="6357252" type="DOMAIN" weightage="20" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> has surpassed the significant milestone of 100 million (10 crore) units in <keyword id="10631540" type="UNKNOWN" weightage="20" keywordseo="cumulative-production">cumulative production</keyword>. The 100 millionth bike, the Xtreme 160R, was rolled-out of the Company's manufacturing facility in Uttarakhand's Haridwar. This is the 20th consecutive year that Hero MotoCorp has retained the title of the world's largest manufacturer of two-wheelers. According to the two-wheeler major, this is one of the fastest global achievements of the 100 million cumulative production mark, with the last 50 million units coming in a span of just seven years. "This significant landmark is also an affirmation of the inherent capabilities in India and Hero's Brand appeal. We have been making in India, for the world - and this milestone is an acknowledgment of the customers' preference for Hero across geographies, demographics and generations," said <keyword id="87849" type="PERSON" weightage="20" keywordseo="Pawan-Munjal">Pawan Munjal</keyword>, Chairman &amp; CEO, Hero MotoCorp. "We are going to continue to ride our growth journey. In keeping with our vision to 'Be the Future of Mobility', we will be launching a host of new motorcycles &amp; scooters over the next five years, in addition to expanding our global footprint. We will also continue to invest in R&amp;D and focus on new mobility solutions." Besides, <keyword id="6320" type="DOMAIN" weightage="20" keywordseo="Munjal">Munjal</keyword> outlined Hero MotoCorp's plans and vision for the next five years. As part of the next five-year plan, Hero MotoCorp will introduce over 10 products - including variants, refreshes and upgrades - every year. In addition, the company will continue to grow its operations in markets outside India and also enter new geographies. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/us-new-president-joe-biden-will-oppose-new-delhis-5-5-billion-deal-with-russia-for-the-s-400-missile-as-per-washington-d-c-based-expert/articleshow/80382062.cms" data-type="tilCustomLink">INTERVIEW: Joe Biden may be as harsh as Donald Trump if India insists on buying S-400 missiles from Russia, says a Washington D.C-based expert</a> <a href="https://www.businessinsider.in/stock-market/news/home-first-finances-1153-crore-ipo-has-opened-as-markets-hope-budget-will-push-for-affordable-housing/articleshow/80381788.cms" data-type="tilCustomLink">Warburg Pincus-backed Home First Finance’s ₹1,153 crore IPO has opened as markets hope budget will push for affordable housing</a>

Hero Motocorp hits the 100 million cumulative production milestone

NEW DELHI: As it charts out a solo journey after the split from long-time partner <keyword id="20630" type="CITY" weightage="100" keywordseo="Honda">Honda</keyword>, the Munjal-family run two-wheeler company <keyword id="6357252" type="COMPANY" weightage="80" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> has appointed a top automobile designer from <keyword id="87" type="COUNTRY" weightage="100" keywordseo="Germany">Germany</keyword>’s <keyword id="6355119" type="CITY" weightage="100" keywordseo="BMW">BMW</keyword> as the head of its R&amp;D division. 
 
Markus Braunsperger has been associated with the German auto major for a long time, heading the R&amp;D function for BMW’s Motorcycle division for several years. A biking enthusiast, Braunsperger has worked at senior positions across BMW’s R&amp;D, production and strategy divisions. 
 
He has also been associated with the company’s car division, being responsible for project management for BMW’s key product lines such as the 5/6/7 series as well as X3, X5 and X7 models. 
 Braunsperger will report to Hero vice chairman <keyword id="87849" type="PERSON" weightage="100" keywordseo="Pawan-Munjal">Pawan Munjal</keyword> as the company works on developing new models for the Indian as well as international markets. While the split with Honda happened in early 2011, the Japanese auto major had brand and technology with Honda till the end of June this year. 
 
Munjal has been making efforts to beef up the R&amp;D capability of Hero Moto as the company builds up the crucial function from scratch. Last year, he had hired Markus Feichtner from the globally-renowned engine specialists, Austrian firm AVL to lead the “Engine Design &amp; Development” division within Hero’s R&amp;D function. 
 Braunsperger will join Hero in the first week of October and will take charge of the company’s design and product development functions. He is expected to drive in synergy between all of Hero’s technology partners — Erik Buell Racing (EBR) of the US, Engines Engineering of <keyword id="21474" type="COUNTRY" weightage="100" keywordseo="Italy">Italy</keyword> and AVL of <keyword id="21177" type="COUNTRY" weightage="100" keywordseo="Austria">Austria</keyword>. 
 
Hero, which holds 49.2% stake in EBR, will be launching the first of its completely new products — the HX 250R and the hybrid scooter Leap in the second half of this financial year. 
 
Braunsperger is expected to engage closely with the Hero team to work on the future product line of the company. He will lead the 500-strong team of engineers at Hero’s R&amp;D function. 
 
This R&amp;D function will be based out of the company’s upcoming “Hero Centre for Global Innovation and Research &amp; Design” at Kukas near Jaipur. 
 
Hero has developed three new engines to be fitted into its new products — 100cc, 110cc and 250cc engines. The 250cc engine will be with new Hero HX250R, expected to hit Indian roads in the second half of this fiscal. The 100cc and 110cc engines — with higher fuel efficiency and better overall performance — are likely to be fitted in the new commuter range of bikes that Hero is planning to launch.

Hero India Ropes In Top BMW Tech Honcho As R&D Head

<ul><li><keyword id="6357252" type="UNKNOWN" weightage="20" keywordseo="Hero-MotoCorp">Hero Motocorp</keyword> announced its Q1 FY20 earnings, where the company saw a net profit of ₹1257 crores, up by 38%. </li><li>However, Hero has seen a decline in sales by 12.2% from the same quarter in FY19.</li><li>The company’s CFO appealed to the government to reduce the GST on two-wheelers from the current 28% to 18%.</li></ul>Hero Motocorp posted a net profit of ₹1,257 crore for the quarter ending June 2019, up 38% from last year’s ₹925 crore. Yet, the company is not happy. The slowing auto market has affected it sales too, which declined by 12.2% to 616,526, just for the month of June, as compared to the 704,562 units sold in the same month last year. "The overall economic and customer sentiments continued to be soft during the first quarter of this fiscal and their impact is clearly visible in the performance of the Auto sector, The outlook for the rest of the year will be dependent on multiple factors, including the progress of monsoon and festive season offtake, as well as improvement in liquidity,” said Niranjan Gupta, Chief Financial Officer, Hero MotoCorp. In the Q1, Hero has sold over 1.8 million motorcycles and scooters. In the same quarter of the previous year, Hero had announced its highest ever sales in a single quarter at – 2.1 million. 
 
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 Hero Motocorp had recently announced its foray into the electric vehicle segment. However, according to reports, the Pawan Munjal-led company will not be able to use its legacy brand name of Hero for EVs as his brother Naveen Munjal has the <a href="https://www.livemint.com/auto-news/family-pact-may-not-give-pawan-munjal-the-hero-brand-name-for-evs-1564079431571.html">rights </a>for the brand name Hero for Hero Electric. Gupta also said that it is important for the government to take urgent steps to boost consumption. “We would, therefore, reiterate our appeal to the government to bring down the GST on two-wheelers to 18% from the current level of 28%, in order to provide the much-needed relief to the sector. A reduction in GST will lower the cost of the two-wheeler and spur demand, with the consequent growth in volumes offsetting any impact on the government revenue,” said Gupta.

Hero Motocorp wants government to take ‘urgent steps’ to help recover falling sales

<ul><li><keyword id="2665691" type="PERSON" weightage="20" keywordseo="Niti-Aayog">Niti Aayog</keyword> held meeting with chiefs Bajaj Auto and <keyword id="46156" type="CITY" weightage="20" keywordseo="TVS-Motor">TVS Motor</keyword> on Friday. </li></ul><ul><li>The government think tank wants two-wheeler and three-wheeler vehicles in India to go electric by 2023 and 2025 but the industry is protesting. </li></ul><ul><li>The meet was attended by Bajaj Auto MD, Rajiv Bajaj and TVS Motor Chairman, Venu Srinivasan, among others. Hero MotoCorp Chairman Pawan Munjal skipped the meeting. </li></ul>The Narendra Modi government in India is keen on electrifying as many vehicles on Indian roads as possible. However, the latest proposal to set a deadline of 2023 for two-wheeler makers and 2025 for three-wheeler makers has the companies up in arms. In a meeting with representatives of two and three wheeler manufacturing industries, the central think tank of India, the NITI Aayog on June 21, has asked the industry majors to draw up and present a plan to switch to <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword> (EV’s) in the coming years, in two weeks. However manufacturers have shown disappointment with the plan sitting that they have already been forced to deal with an accelerated timeline for the new emission norms that are due to sweep in in 2020. While Rajiv Bajaj, the Managing Director of Bajaj Auto, reportedly called it ‘shock and awe’, Venu Srinivasan, Chairman, TVS Motor, told the <a href="https://economictimes.indiatimes.com/industry/auto/two-wheelers-three-wheelers/india-inc-wants-nitis-ev-juggernaut-to-move-out-of-the-fast-lane/articleshow/69920504.cms">Economic Times</a> that the government seemed to “negate in one stroke” the strides made by India in building the world’s largest <keyword id="411149" type="PERSON" weightage="20" keywordseo="two-wheeler-market">two wheeler market</keyword>. While Bajaj and TVS argued for more reasonable timelines, Pawan Munjal who heads India’s largest two-wheeler company, Hero Moto Corp, did not even attend the meeting on Friday. Further, the companies argued for fiscal incentives to promote manufacturing and sales of electric two-wheelers and three-wheelers. “I’m in awe of the apparent willingness to subsidise EVs — an approximate ₹1 lakh per vehicle — to help achieve reasonable price parity with ICE two- and three- wheelers for an estimated minimum industry size of 25 million by 2025,” Bajaj said. However, the Niti Aayog reportedly has the support from two-wheeler EV startups, represented by Tarun Mehta, founder of Alther Energy, and Sulajja Motwani of the Firodia group. However, the current manufacturing capacity of the startups is too low to meet the government’s target.

India’s top two-wheeler makers are on a collision course with the government over the deadline for electrification

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Elsa/Getty</div></div></div><ul><li>Tiger Woods announced he will play the Hero World Challenge from November 30 - December 3.</li><li>Woods has not played professional golf since withdrawing from a tournament in February.</li><li>Woods has been sidelined following back surgery in April.</li></ul> Tiger Woods is back!After a nine-month layoff from professional golf, Woods announced on Monday that <a href="http://news.tigerwoods.com/hwc-tiger-woods-to-play-in-2017-hero-world-challenge/">he will compete in the Hero World Challenge</a> from November 30 - December 3.Woods hosts the tournament, which will be played in Albany, Bahamas.Wood said in a statement:"I am excited to return to competitive golf at the Hero World Challenge. Albany is the perfect setting and it will be great to join this outstanding field. I want to thank Pawan Munjal and Hero MotoCorp for their continued support of this tournament and my foundation. I would also like to thank the fans for their unwavering support during my injury."There were rumors that Woods would return for the Hero World Challenge after he left one spot open in the field. Woods last played at Dubai Desert Classic in February from which he withdrew after one round. He <a href="http://www.businessinsider.com/tiger-woods-4th-back-surgery-2017-4">underwent back surgery in April, his fourth in four years</a>, and was sidelined for six months. Woods was arrested for driving under the influence in May, for which he <a href="http://www.businessinsider.com/tiger-woods-pleads-guilty-found-asleep-2017-10">pled guilty</a>, blaming the incident on an <a href="http://www.businessinsider.com/tiger-woods-arrested-dui-2017-5">unexpected reaction to prescription drugs</a>. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/lebron-james-eats-diet-workout-routine-2017-6">Here's how LeBron James stays in incredible shape</a></h3> <div> </div> </div>

You Searched For "Hero s Pawan Munjal" and got 14 results

Hero Motocorp stock slumps after ED searches at Pawan Munjal's residence

IANS

ED attaches three properties of Hero Motocorp CMD & Chairman Pawan Munjal

IANS

ED conducts raids against Hero Motors' Pawan Munjal

PTI

Hero MotoCorp supports lockdown extension, seeks stimulus package for India Inc

PTI

Hero MotoCorp is going global in speed!

BI India Bureau

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