Tribunal allows Hero MotoCorp to use ‘Hero' trademark for its EV Segment; stock trades higher

1 Jul 2022 , 01:17 PM

Hero MotoCorp Limited informed that the Arbitration Tribunal ruled out on Thursday that the company can use the ‘Hero’ trademark for selling its Electric Vehicles.

Hero Electric had sought an injunction against Hero MotoCorp for using the ‘Hero’ trademark for its electric vehicles.

The Arbitration Tribunal emphasized Hero MotoCorp Ltd.’s significant investments of Rs400 crore in the business of electric vehicles and expenses of nearly Rs7,000 crore in ‘Hero’ brand building over the last ten years.

In the interim, the Arbitration Tribunal ruled that Hero Electric’s case was unjustified. After final consideration of the case, the Tribunal would now conclude the matter.

Hero MotoCorp’s counter was trading at Rs2,723 up by Rs3.35 or 0.12% from its previous closing of Rs2,719.65 on the BSE. The scrip touched intraday high and low of Rs2,753.10 and Rs2,685.05 respectively.