AN INDIAN HERO IN EUROPE
PANKAJ MUNJAL HAS A PREDICTABLE ROUTE TO WORK EACH MORNING. IT IS A SEVEN-MINUTE WALK AND GETS A LITTLE LONGER IF HE DECIDES TO STOP BY TO PICK UP SOME COFFEE AT AN OUTLET EN ROUTE. HE RARELY CALLS FOR A CAR UNLESS IT IS ABSOLUTELY NECESSARY.
Just before you start wondering if all this is true, let’s get to the point. The man spends most of his time—at least nine months a year—in London. It is for a strategic reason since it is the prefect locale given his desire to get a large chunk of the European e-bike market. While he walks to work, evenings and weekends are reserved for e-bike rides. That’s how much he loves his own business and what he makes. As Chairman and Managing Director of Hero Cycles, Munjal sees a huge opportunity in the continent since the market is fragmented and most governments are pushing the cause of this more environment-friendly mobility option. “We are already among the top five brands in Europe and there is tremendous room for growth,” he says, over a Zoom call from his Ludhiana factory where he is parked for a couple of days.
For FY21, he reveals (the unlisted Hero Cycles has not filed
