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Hero Electric, Mahindra join hands for electric two-wheelers

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Hero Electric, Mahindra join hands for electric two-wheelers

Hero Electric and Mahindra and Mahindra (M&M) will sign a five-year contract to strengthen future areas of cooperation. During the contract period, the transaction value is expected to be between Rs 140-150 crore.

Through this partnership, M&M will use its plant in Pithampur, Madhya Pradesh, for the production of models such as Hero Electric’s Optima and NYX. In addition to the electrification of Peugeot’s motorcycle portfolio through platform sharing, there will be joint development and knowledge sharing between the two companies. M&M will also use its supply chain to help Hero Electric enter new centers in the country.

Through this partnership and the expansion of the existing Ludhiana plant, Hero Electric will be able to meet its needs to produce more than 1 million electric vehicles per year by 2022.

Naveen Munjal, Managing Director of Hero Electric said: “Hero Electric has been leading the electric two-wheeler industry in the country. To further deepen its roots and strengthen its leadership, Hero Electric has announced a partnership with Mahindra Group, which is leading the electric two-wheeler industry. Electric vehicle transformation in the tricycle and four-wheeler segment.”

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Joint development work will also be a key element in developing a platform approach to help electrify Peugeot’s motorcycle portfolio. In a press release, M&M said it expects to deliver significant value to both parties by optimizing costs, timelines and sharing knowledge in this dynamic, fast-growing global EV environment.

Complete News Source : Businessline

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Startups that use excerpts from their own pitch are sent legal notifications by Shark Tank India; the creator responds, “Kaise banega naya India?”

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Startups that use excerpts from their own pitch are sent legal notifications by Shark Tank India; the creator responds, “Kaise banega naya India?”

After getting a legal letter from Sony Pictures for copyright infringement, the subscription-based tea business Dorje Teas found itself in deep water for utilising footage from their own pitch on YouTube and Meta advertisements.

The founders of the subscription-based tea company Dorje Teas, Ishaan Kanoria and Sparsh Agarwal.

While many entrepreneurs, especially those with startups, have found transformation through the business reality TV series Shark Tank India, the narrative is slightly different for Dorje Teas, a subscription-based tea firm that ships organic and fresh-from-the-farm Darjeeling Tea to consumers throughout India. Sony Pictures Networks India slapped the firm with a legal notice, which has placed it in hot water.

Co-founder Sparsh Agarwal of the company, who brought Dorje Teas to Shark Tank India last year and raised funds of Rs 30 lakh for 15% equity from Anupam Mittal, Peyush Bansal, and Vineeta Singh, valued the business at Rs 2 crore, recently revealed on LinkedIn that they received a legal notice from Shark Tank India for utilising snippets of their own pitch.

Agarwal claims that they received a notification about copyright infringement for utilising these clips in YouTube and Meta advertisements. It appears that Sony Pictures has sent notice to other companies besides Dorje Teas. He said, “They’ve clamped down on every single startup that showed up on Shark Tank, so we’re not the only ones.”

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“I don’t understand why they would do this, even though I am aware of the copyright rules that justify it. After all, Dorje Teas and several other businesses, like Skippi, Assembly, Perfora, Hoovu Fresh, Beyond Snack, Wakao Foods, Nasher Miles, and many more, invest thousands of dollars each month to enhance Shark Tank content, which helps the Shark Tank India brand get free exposure and increase brand memory,” he continued.

Agarwal went on to call it a poor business choice that some executive or lawyer at Sony had made, adding that it “goes against the entire ethos of promoting small startups.”

Additionally, the focus of Shark Tank Season 3 has been on creating a new India and assisting the startup environment in India. “How will we construct a ‘new India’ in this manner?’” he questioned in a self-recorded video.

On social media, Agarwal was met with praise, while some contended that Sony’s actions were legitimate in theory. “Dear Sparsh, you must realise that ‘You are the content’ in this situation. You play a big part in content production. You posted the material that features you on your social media accounts (Facebook, Instagram, YouTube, and so on), but not on Sony’s. You might say that the traffic they were supposed to get was somehow redirected to them. A content strategist made the observation, “You are monetizing your social channels with the content they produce.”

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“The first person to provide a sneak peek in the content industry attracts greater attention. Furthermore, it’s possible that you agreed to sign a waiver giving them perpetual rights to the footage they shot. They said, “Verify your contract or try to recall signing any electronic documents on the filming locations that make this clear.

“You are investing lakhs of dollars to promote Shark Tank, while Shark Tank is investing billions of dollars to plan and publicise the programme that features your brand.” Simply alter your viewpoint, as another poster pointed out.

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