Hero MotoCorp to enter Mexico; targets rapid expansion
Two-wheeler major Hero MotoCorp will commence its operations in Mexico.
Accordingly, the company has entered into a distribution agreement with 'Grupo Salinas'.
The two-wheeler major said following the agreement, both the companies have come together to form one of the largest distribution networks globally to 'sell competitive, high-quality products in the large Mexican market'.
"With the global expertise and technology prowess of Hero and the local market knowledge of Grupo Salinas, we are aiming for rapid expansion of the Hero brand here over the next three years," said Hero MotoCorp's Chairman & CEO Pawan Munjal.
"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."
As per a company statement, 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," the statement said.
"Hero MotoCorp now has 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."
At present, the company has eight world-class manufacturing facilities, including six in India and one each in Bangladesh and Colombia. - IANS