Country’s largest two-wheeler maker Hero MotoCorp may use the ‘Hero’ trademark to sell its upcoming electric vehicles.
In a regulatory filing late on Thursday, the two-wheeler major said that the tribunal has ruled in its favor with regard to the use of the trademark. Electric two-wheeler maker Hero Electric has sought an injunction against Hero MotoCorp for using the ‘Hero’ trademark for its electric vehicles.
“Importantly, the arbitration tribunal observed an investment of Rs 400 crore by Hero MotoCorp on the electric vehicles business and an expenditure of about Rs 7,000 crore on Hero’s brand building in the last 10 years,” the company said.
The Tribunal has in the interim found the case of Hero Electric to be ineligible. Hero MotoCorp said that the tribunal will now conclude the matter after considering the matter.
The two-wheeler maker has postponed the unveiling of its first electric vehicle to be held in July till the festive season this year.