Hero Cycles cancels 900 million deal with Dragon
With the relationship between India and China strained, many companies including the Modi government have played a front against China. Hero Cycles has also broken a deal worth Rs 900 crore.
Highlights
- China is opposing every front and there is talk of a boycott of Chinese goods.
- Modi government has also banned 59 apps in China.
- Many companies are also breaking their contracts with China
- Meanwhile, Hero Cycles has also taken a major decision to cancel the business of Rs 900 crore.
Ever since there has been a bloody conflict between Indian and Chinese soldiers on the border and 20 Indian soldiers have been martyred, there has been opposition from China on every front and talk of a boycott of Chinese goods. The Modi government has also banned 59 apps from China. Many companies are also breaking their contracts with China. Meanwhile, Hero Cycles has also taken a major decision to cancel the business of Rs 900 crore. Let me tell you that recently Hero Cycle donated 100 crores rupees to the government.
While the rest of the companies are suffering losses in the Corona era, Hero Cycles continues to grow even further in this era. Hero Cycles, while boycotting China, canceled the 900 crore business with it, which was to be done in the coming 3 months. On the other hand, Hero Company has gone ahead to help small bicycle makers in Ludhiana and is offering them to merge themselves.
Hero Cycles has closed all kinds of 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 Cycles will be supplied throughout Europe. According to the company, the demand for the Hero Cycle has increased a lot in the past, and the Hero Cycle has also increased its capacity. However, it is worth noting that many small companies have suffered losses during this period. Now Hero Cycles is making up for the losses of those small companies.
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