Mon, 01 Mar 2021

Hero MotoCorp Planning To Launch An Electric Car In India

RushLane.com
27 Jan 2021, 06:09 GMT+10

World's largest two-wheeler manufacturer Hero MotoCorp recently clocked its 100th million production unit in the form of new Xtreme 160R. The company has a selling capacity of 5 lakh units on a monthly basis at any given period. Going forward, the homegrown manufacturer has revealed its plans for future.

The first major announcement made was that Hero MotoCorp would be launching ten new two-wheelers every year for the next five years. In addition to expanding its global footprint, the company will be launching new motorcycles and scooters under its vision 'Be the Future of Mobility'.

Plan For Future - Electric car?

Hero MotoCorp has shared its plans with Dr. Pawan Munjal, Chairman & CEO, Hero MotoCorp addressing a large audience including customers, dealers, investors, suppliers, distributors, employees and media. Munjal summarised the company's plan and vision for the next five years. During this period Hero MotoCorp will further aim to consolidate its numero uno position in the Indian market and expand its footprint on global markets.

The company will be launching new, exciting and relevant products during this period and at the same time continue working on innovative product concepts. In the next five years, Hero will be launching ten products every year including variants, upgrades and refreshes. This includes both motorcycles and scooters.

In an interview with Times of India, Dr Munjal also stated that Hero MotoCorp does not intend to be limited only to the two wheelers space. We have already seen their 3 wheeler electric concept Quark1 - which is a brainchild of their internal startup called Hero Hatch.

Hero MotoCorp has a part, which is consistently working to be the future of mobility. Hero is not the first two wheeler company to dabble in the four wheeler space. Earlier, Yamaha has also suggested that they might enter the electric car space.

Hero Manufacturing Facilities

Currently, the brand has eight manufacturing facilities in India out of which six of them are in India and one each in Bangladesh and Colombia. In India, these facilities are located in Neemrana in Rajasthan, Haridwar in Uttarakhand, Halol in Gujarat and Gurgaon and Dharuhera in Haryana. Operations in the sixth plant at Chittoor in Andhra Pradesh began last year.

Production capacities per annum at each facility are as follows- 1.7 mn at Haridwar, UK; 2.1 mn at Dharuhera, Haryana; 2.1 mn at Gurgaon, HR, 1.1 mn at Neemrana, Rajasthan; 1.8 mn at Vadodara, Gujarat; and 1.8 mn at Chittoor, AP. Its newest plant will hit full capacity in three phases.

Hero's Partnership With Harley Davidson

The next five years will also hold significance to its partnership with American bike icon Harley Davidson as well after the latter quit independent operations in India last year. Higher pricing, wrong product portfolio and marketing strategy adopted by Harley were a few reasons cited by many for the company's slow sales in the country which made it call quits.

As part of this non-equity partnership with Harley Davidson, Hero MotoCorp will sell and develop models under the former's brand name in India. Harley even released a new AD film last month titled "H-D India Forever" which assured its customers of its presence in the country in future as well.

Source

More Bangladesh News

Access More

Sign up for Bangladesh News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!