As part of its efforts to increase
annuals production capacity to 12 million units by 2020, Hero MotoCorp, India's
largest two-wheeler manufacturer, is looking at investing Rs 5,000 crore in
five manufacturing facilities across India, Colombia and Bangladesh.
Pawan Munjal, Vice-Chairman and Managing Director, said, "We have lined up total investment of over Rs 5,000 crore
across the globe including manufacturing plants in Colombia and Bangladesh, the
new plants coming up in Gujarat and Andhra Pradesh and the Hero Global Centre
for Research and Design at Kukas in Rajasthan."
To expand its global footprint, Hero
MotoCorp is also looking at entering the European market with hybrid scooter
Leap by the end of 2015. The company is in the process of getting approval for
its products for the US market, where it plans to launch Hero products in 2016.
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