Hero Group

Munjal has been accused by the anti-money laundering agency for sending Rs 54 crore in foreign currency abroad during the period of 2014-15 to 2018-19.

The purpose of the Agreement was the division of BML Munjal Group Entities, including the Listed entity between the parties to the Agreement.

"In our recent exchanges with the Department, we have been made aware of the efforts by the Department to find a solution that passes muster by due process at the ministry level and are confident that a practical solution is round the corner," Sohinder Gill, CEO, Hero Electric, said in a statement.

"Our core philosophy has been designing bikes that are safe and super-efficient. The extensive feedback from our 6 lac bikes over 15 years has helped us design our new range of power trains that converts almost every drop of battery power into useful km," Sohinder Gill, CEO, Hero Electric, said in a statement.

This is the first time that Honda Motorcycle and Scooter pipped Hero Motocorp in retail sales. Hero MotorCorp on Saturday said it had dispatched 519,980 units of motorcycles and scooters in the month of September 2022 for sales. It also said it is geared up to launch its first-electric vehicle, VIDA on October 7.

Hero Electric had sold 8,954 EV two-wheelers in July while Okinawa Autotech had sold 8,096 two-wheelers. Bhavish Aggarwal-run Ola Electric sold 3,421 EV two-wheelers in August, a drop from 3,862 units the company sold in July, indicating that it still needs to bring its strategy back on track. Ather Energy saw a massive jump at selling 5,239 vehicles, from a mere 1,289 in July.

Ather Energy sold just 1,279 EV two-wheelers for the full month of July from selling 3,829 vehicles in June -- a massive drop in numbers -- followed by Ola Electric which sold 3,852 vehicles from 5,891 vehicles in June. Ampere Vehicles Pvt Ltd, which sold 6,542 vehicles in June, saw a minor drop at 6,312 vehicles last month.