Hero MotoCorp, the country’s largest manufacturer of motorcycles and scooters, will soon commence its operations in Mexico, as part of its global expansion strategy.
The company which recently surpassed 100 million units in cumulative production — has entered into a distribution agreement with Grupo Salinas, a group of fast-growing and technologically advanced firms founded by Mexican entrepreneur Ricardo Salinas.
For Mexico, the two companies have come together to form one of the largest distribution networks globally to sell competitive, high-quality products in the large Mexican market.
In the first phase of operations, Hero MotoCorp will launch nine products, including motorcycles – for work (100cc), street (125cc), premium (150cc, 160cc) and on-off segments – and scooters. All these products are being designed and developed at Hero’s state-of-the-art R&D hubs in India and Germany.
Pawan Munjal, chairman & CEO, Hero MotoCorp, said, “Our partnership with Grupo Salinas is aligned with our mission to create, collaborate and inspire and will be key to our growth in the region. With the global expertise and technology prowess of Hero and the local market knowledge of Grupo Salinas, we are aiming for the rapid expansion of our brand over the next three years. We will be bringing products that cater to all segments of the market, thereby offering a wide range of choices for the customers in Mexico.”
Hero MotoCorp had recently said it will introduce over 10 products, including variants, refreshes and upgrades, every year during the next five years. The company aims to further consolidate its leadership position, expand global footprint and work on new innovative product concepts.
At present, the motorcycle maker has an extensive presence across Asia, Africa, South and Central America and the Middle East. In Latin America, the company is now present in more than 10 countries. The firm has eight world-class manufacturing facilities, including six in India and one each in Bangladesh and Colombia. It also has a global R&D presence with technology centres in India, the Centre of Innovation and Technology in Jaipur, and the Hero Tech Centre GmbH in Germany.
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