Ground-breaking ceremony of JV-Hero Motors & STP Germany
The ground-breaking ceremony for the manufacturing facility of Munjal STP Industries Limited, a Joint Venture between Hero Motors Limited (“HML”) and Vermogensverwaltung Plettenberg GmbH and CO KG along with its group companies (“STP Group”) held today at Dhanasu, Ludhiana. In this way, Punjab will receive investment of Rs.260 crores in the first phase through joint venture and employment for 400 people.
City Air News
Oct 29, 2025 05:33
0
Ludhiana, October 29, 2025: The ground-breaking ceremony for the manufacturing facility of Munjal STP Industries Limited, a Joint Venture between Hero Motors Limited (“HML”) and Vermogensverwaltung Plettenberg GmbH and CO KG along with its group companies (“STP Group”) held today at Dhanasu, Ludhiana. In this way, Punjab will receive investment of Rs.260 crores in the first phase through joint venture and employment for 400 people.
The groundbreaking ceremony was attended by Industry and Commerce Minister of Punjab, Vice-Chairperson of the Punjab Development Commission, along with several other dignitaries from Industry & Government of Punjab.
Pankaj Munjal, Chairman, HML, said, “Munjal STP Industries Limited represents our drive to strengthen manufacturing in India through collaboration with STP Group. The facility is being set up at Hero Industrial Park, Ludhiana, alongside other key automotive and EV units such as HMC HIVE, HYM Drive Systems Private Limited, and Spur Technologies Private Limited.”
Amit Gupta, MD and CEO, HML, stated, “The new facility will further strengthen our Powertrain Solutions manufacturing footprint, building on our capabilities in supplying gears and transmission solutions to global customers across automotive, aerospace, defence, and industrial segments. It will feature semi-automatic forging lines for complex components, with a focus on cost efficiency and stringent quality standards.”
Cornel Mueller, Chairman and CEO, STP, added, “Our partnership with HML marks a significant step in extending STP’s presence and leveraging India’s advanced manufacturing ecosystem. The collaboration is designed to combine STP’s expertise in high-precision forging with HML’s manufacturing and engineering capabilities, fostering technology exchange and operational excellence between our teams in Germany and India.”
Hero Group was represented by Pankaj Munjal, SK Rai, Ashwairya Munjal, Aditya Munjal, Amity Gupta amongst others.
