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NEWS
Hero aims for global reach
The world's biggest producer of motorcycles and scooters has unveiled an ambitious plan to expand into 30 new markets around the worldIndian motorcycle and scooter manufacturer, Hero MotoCorp Ltd, will go on a spending spree after announcing plans to add 30 new markets across south-east Asia, Africa, Latin America and Central America to its portfolio.
Hero, which split with Honda last year after a very successful 26-year joint venture, plans to invest more money over the next five years than it has in the last 25, with large chunks of cash being channelled into R&D and the establishment of more manufacturing, parts and assembly plants – both in India and outposts such as Brazil.
Hero currently has a capacity of 6.1 million bikes a year from its three existing manufacturing units.
The company is aware it faces many challenges to meet its expansion targets, and one of those is having the technical expertise to get the job done -- now a very real issue since its split from Honda.
To that end, Hero has formed an alliance with a European company to help it design engines and products, and it will also look at acquisition targets to assist in that process.
The bold plan aims to have the company selling 10 million bikes a year by 2016, with annual turnover of $10 billion.
Hero currently has 15 scooters and small capacity motorcycles in its line-up, and this begs the question... Will Hero look at developing larger motorcycles, above the 250cc range? The answer to this question is likely to be revealed in the next 18 months.
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Written byBikesales Staff
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