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NEWS
Hero to manufacture in Bangladesh
The largest sole motorcycle marque in the world has signed a joint venture to start manufacturing in Bangladesh, beginning in 2015/2016Hero MotorCorp will invest $40 million in a new manufacturing plant in Bangladesh in a joint venture with automobile company Nitol Niloy Group.
Hero will hold 55 per cent in the new joint venture while Nitol will hold 45 per cent. The plant will have an annual capacity of 150,000 units and be operational in the 2015-2016 financial year.
Pawan Munjal, MotoCorp’s managing director and chief executive said he was aiming for 20 per cent market share in Bangladesh, where annual sales of motorcycles is presently at 500,000 units.
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Written byBikesales Staff
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