The Hi-Tech Gears Begins EV Production for Hero MotoCorp and Dana

The Hi-Tech Gears says EV business won from Hero MotoCorp and Dana is currently in production, according to its FY27 presentation. The company identifies two-wheeler gear assemblies and passenger-car helical gears among its EV initiatives, while India contributed 54% and international operations 46% of FY26 revenue.

What EV business has THGL won?

THGL says it has won EV business from Hero MotoCorp and Dana and that the business is currently in production. This is the presentation's clearest statement on commercial status because it identifies named customers and confirms production rather than only product-development work or requests for quotation.

The FY27 presentation does not disclose programme value, production volume, launch date, component allocation by customer, contract duration or revenue contribution from either Hero MotoCorp or Dana. It does state that THGL has active quotes across customers in the EV space, distinguishing the two disclosed production awards from the wider quotation pipeline.

Which EV components is THGL pursuing?

THGL identifies two-wheeler, or TW, gear-component final assemblies, counter assemblies and gear drives, alongside passenger-car, or PC, helical gear components, as its EV initiatives. The TW programme includes individual gear-related parts and final assembly work, while the PC initiative is described as helical gear components.

The EV section also refers to an EV differential assembly and states that EVs have higher torque and power curves, fewer gears and higher rotational speed. THGL does not state that the Hero MotoCorp or Dana awards specifically cover an EV differential assembly, a TW assembly or PC helical gears. The product list identifies the EV areas being pursued but not the precise content of each customer programme.

Alongside EV components, THGL lists automatic-transmission gears as an advanced-technology area. Its presentation describes a single-speed transmission using a single reduction gear, reverted gear or compound gear train to reduce revolutions per minute and increase torque. Management says engineering capability is being enhanced for advanced components and gearboxes, including metallurgy improvements such as shot peening for fatigue life, residual stress and tighter noise, vibration and harshness, or NVH, requirements.

What manufacturing base can THGL use for EV programmes?

THGL has five manufacturing facilities across India and North America: three in India and two overseas. Its India sites are Plant-I in Bhiwadi, established in 1986; Plant-II in Manesar, established in 2005; and Plant-III in Bhiwadi, established in 2011. The overseas facilities are in Guelph, Canada, and Emporium, USA, both acquired in 2017.

The presentation describes this footprint as a dual-shore presence, but does not identify which of the five plants is making the Hero MotoCorp or Dana EV components. It also does not disclose dedicated EV capacity, capital expenditure, utilisation or the production location for either award. The facility list therefore shows the manufacturing base available to THGL without establishing a plant-level link to the disclosed EV business.

THGL's process infrastructure covers hot, warm and cold forging, cold extrusion and coining, followed by gear grinding, honing, hard turning and grinding. Its machining capabilities include computer numerical control, or CNC, turning; wet and dry hobbing; broaching; shaping; shaving; spline rolling; shaft straightening; and deep-hole drilling. These processes sit alongside case carburising, carbo-nitriding, induction hardening and nitriding, plus assemblies including two-wheeler main and counter shafts.

How does the EV work fit THGL's customer and market mix?

THGL's FY26 revenue mix was 54% India and 46% international, with international defined as exports plus its North America subsidiary. Hero MotoCorp is listed among customers in India, while Dana is listed in THGL's North American customer set. The two disclosed EV awards therefore correspond to customer relationships across the two reported revenue geographies.

The company presents customers across four categories: two-wheelers, medium and heavy commercial vehicles, passenger cars, and agriculture, engines and off-highway equipment. Hero appears in the two-wheeler group, while Dana appears in the passenger-car group. This segment placement is consistent with THGL separately identifying TW assemblies and PC helical gear components, although the presentation does not confirm a direct product-to-customer match.

THGL's portfolio includes two-wheeler transmission, car transmission and driveline, commercial and off-highway vehicle transmission, engine gears, power-take-off components, precision forging and machining, and sintered components. The disclosed EV production is therefore an addition to a broader product range serving several vehicle and equipment segments, rather than evidence that EV products have replaced existing categories.

What do FY27 results show alongside the EV disclosure?

THGL reported higher year-on-year consolidated revenue and profit in Q2 FY27 and H1 FY27, but did not attribute any part of that increase to the Hero MotoCorp or Dana EV programmes. Q2 FY27 operational income rose 18.4% year on year to Rs 285 crore, while profit after tax, or PAT, increased 78.3% to Rs 10.7 crore. H1 FY27 operational income rose 14.6% to Rs 522.7 crore and PAT increased 29.2% to Rs 15.5 crore.

Q2 FY27 earnings before interest, tax, depreciation and amortisation, or EBITDA, margin was 11.75%, compared with 11.46% for H1 FY27. These are different reporting periods and do not measure a direct quarter-on-quarter change. The presentation separately says standalone India operations faced cost inflation from PNG, LPG, industrial diesel, cutting-tool consumables and minimum-wage revision despite volume growth.

Conclusion

THGL's central EV disclosure is that business won from Hero MotoCorp and Dana is already in production, supported by its stated TW assembly and gear-drive initiatives and PC helical gear components. The awards involve customers listed in India and North America, which accounted for 54% and 46%, respectively, of FY26 revenue under the company's geographic definition.

The next development to watch is conversion of THGL's active EV quotes into further production work, alongside management's stated plan to enhance engineering and precision-metallurgy capability for advanced components and gearboxes. The presentation provides no EV revenue, volume, programme value or capacity target, leaving future disclosures to establish the financial scale and customer-product mix of the production awards.