The ongoing legal dispute between Pawan Munjal-led Hero MotoCorp versus Hero Electric’s Naveen Munjal over the right to use the ‘Hero’ brand by the former in the electric vehicle segment has taken a new turn.
Electric two-wheeler maker Hero Electric had sought an injunction against Hero MotoCorp using the ‘Hero’ trademark for its electric vehicles. But a ruling has been made in favour of Hero MotoCorp by an arbitration tribunal regarding the use of the ‘Hero’ trademark.
Hero MotoCorp said that the tribunal emphasised on the investments made by Hero MotoCorp to the tune of Rs 400 crore on the business of electric vehicles and expenses of almost Rs 7,000 crore on brand building of Hero in the past 10 years. Furthermore, the company says the tribunal has found the case of “Hero Electric unmerited in the interim.”