Hero MotoCorp are restrained from using the ‘Hero’ brand for any electric vehicle as a consequence of a family settlement from 2010 which gives the rights to Hero Electric.
The settlement that occurred between Pawan Munjal, who heads Hero MotoCorp, and his nephew Naveen Munjal’s Hero Electric might slow down Hero MotoCorp’s progress in the electric sector. Naveen claims that his family received “global rights over the Hero brand name in perpetuity for electrics.”
Naveen specifies that only his family has the right to use the Hero brand for green vehicles – two-, three- or four-wheelers – either for personal or commercial use. Although the settlement alloted global rights to Hero Electric for green technology there is no prohibition on other clan members who can enter the electric space with a different brand name.
Naveen, speaking on the issue said,“We have the ownership of the Hero brand name for electrics and no one else can use it. There is no ambiguity here. We can use it for any type of vehicle running on land – two-wheelers, three-wheelers, cars or commercial vehicles.” He also added, “If our rights are encroached upon, we will take legal recourse.”
In the current state where Hero MotoCorp have invested huge sums in contemporary EV businesses, clad in ambiguity is the branding the company will use for their upcoming electric vehicle this year. But on the positive side of things, Hero Electric is “open to anything” and as Naveen Munjal plans to aggressively expand business he mentions that the company is open to partnerships even within the family as the family relations are cordial but the business interests have to yet be looked after.
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Story: Cherry Mathew Roy