Boycott China: Hero Cycles gave China a tweak of Rs 900 crore

New Delhi, 4 July 2020 Saturday

Ever since the bloody clash between Indian and Chinese troops on the border and the martyrdom of 20 Indian soldiers, China has been protesting on every front and there has been talk of boycotting Chinese goods. The Modi government has also banned 59 Chinese apps. Many companies are also breaking agreements with China.

Meanwhile, Hero Cycle has also taken a big decision to cancel its Rs 900 crore business. It may be mentioned here that recently Hero Cycle donated Rs 100 crore to the government.

While other companies are suffering losses in the Corona crisis, Hero Cycles is growing even more this time around. Hero Cycle has canceled its Rs 900 crore business with China by boycotting it.

Which was to take place in the next 3 months. On the other hand, Hero Company has come forward to help small bicycle manufacturers in Ludhiana and is offering to merge them into its own.

Hero Cycle has stopped all trade with China and it is expected that Hero Cycle is now preparing to set up a plant in Germany. From this plant in Germany, Hero Bicycles will supply a supply of bicycles throughout Europe.

According to the company, the demand for Hero bicycles has increased a lot in the last few days and Hero Cycles has also increased its capacity.

However, it is worth mentioning that many small companies have suffered losses during this period. Now Hero Cycles is compensating those small companies.