After setting up a plant in Colombia, India’s largest
two-wheeler maker Hero MotoCorp plans to set up manufacturing units in Brazil and
Argentina.
Hero Moto Corp MD & CEO Pawan Munjal said "We
will get into manufacturing in Brazil. Argentina also requires us to manufacture
locally, which is also on the cards. We would like to enter the Brazilian
market along with the Rio Olympics in 2016, we believe that the factory in
Colombia will be a good hub for supply to other markets for us in Central and
Latin America".
Hero MotoCorp launched six of its best-selling bikes
here as part of its target to clock 1.2 million unit sales from global business
by 2020.
The two-wheelers rolled out include the 100 cc bikes
- Splendor iSmart, Eco Deluxe, and Passion-Pro; the 125 cc Glamour; the 150 cc
Hunk and the 225 cc Karizma ZMR. The bikes will be sold in 120 outlets spread
across the country.
With this, the New Delhi-headquartered Hero MotoCorp
will be the first Indian two-wheeler company to have a manufacturing plant in
Latin America. The plant in Colombia is expected to go on stream by the middle
of 2015.
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