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|1st December 2014, 17:33||#1|
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Hero Motocorp to open new plants in Argentina & Brazil
Hero MotoCorp set the foundation stone for their plant in Colombia earlier this year. The plant is expected to begin operations mid-way through F.Y 2015-16 with an annual production capacity of 78,000 units. In a bid to further its reach in Latin American markets, Hero will also open plants in Argentina and Brazil.
Hero MotoCorp Managing Director & CEO Pawan Munjal stated that the brand plans to enter Brazil along with the 2016 Rio Olympics. The Indian two wheeler maker also plans to set up a plant in Argentina as local production will help their pricing. The plant in Colombia will make Hero MotoCorp the first Indian two-wheeler brand with a manufacturing facility in Latin America.
The Colombian plant will have its production levels scaled up to 1.5 Lakh units annually over the next 3-4 years. The plans to support production with additional plants in Argentina and Brazil are in line with Hero's brand strategy. Hero plans to set up manufacturing and assembly units in 50 countries worldwide. By 2020, the brand aims to be in 50 countries with over 20 assembly plants.
Last edited by Tushar : 1st December 2014 at 17:38.
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