India's popular bikemaker has been a local favorite since decades now. In order to expand in international markets, the company plans on enterin the US and Brazilian market sometime by 2016. Hero MotorCorp Ltd made this fresh announcement at EICMA in Milan, Italy. By the end of this year, the company shall begin selling in Europe.
Speaking more on the occasion, Pawan Munjal, vice chairman, chief executive officer and managing director of Hero MotorCorp Ltd, said, “Today, one of out every 10 bikes sold globally is a Hero bike and every second two-wheeler sold in India is from Hero. This places us in a unique position to expand our business into new markets across continents. Having already stamped our presence in Asia, Africa, and Latin and Central America, we are now looking at stepping into the European market by the end of 2015 with our hybrid scooter Leap making its debut here. While we are looking for potential partners, we are also open to M&A opportunities to be able to make quick inroads in these markets. This is in line with our vision of making Hero a truly global brand in its range of quality products, scale of operations and geographical footprint.”
As part of its entry in the European market, the company shall also launch its products in Italy, Spain and France, with the U.K. and Germany to follow soon. With the launch of Leap hybrid scooter the company shall also bring a fresh range of motorcycles and scooters.
Source: PSB
