01-August-2021
Corporate News
 
Pawan Munjal can’t use ‘Hero’ tag for EVs, setback for new venture
22-Jul-2021

In a setback for the Pawan Munjal-run Hero MotoCorp, a 2010 family settlement bars the company and its promoter from using the popular ‘Hero’ brand name for any type of electric vehicle — two-, three- and four-wheeler — as the global rights for the green technology have been allotted to his family member and nephew Naveen Munjal’s Hero Electric. Any violation here “will lead to legal action”, Naveen told TOI, making it clear that “only my family has the right to use the Hero brand for green vehicles”, even though there is no non-compete/prohibition on other clan members who can enter the category but with a different branding. Naveen, son of Pawan’s cousin Vijay Munjal, runs the Hero Electric two-wheeler business since 2007, and said his family received “global rights over the Hero brand name in perpetuity for electrics”, be it for personal-consumer use, or the commercial market.

News Source:- https://economictimes.indiatimes.com/industry/renewables/pawan-munjal-cant-use-hero-tag-for-evs-setback-for-new-venture/articleshow/84625379.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23