20th Feb 2020 3:25 pm
The investment will be utilised towards research and development of alternative mobility solutions and the brand’s manufacturing facilities.
A couple of days ago, Hero MotoCorp kicked off ‘Hero World 2020’, a three-day event at the manufacturer’s R&D hub, the Centre of Innovation and Technology (CIT) in Jaipur. The event witnessed the showcasing of three new products – the Glamour 125, the updated Passion Pro and the new Xtreme 160R. Following this, Dr Pawan Munjal, chairman, Hero MotoCorp, also stated that the manufacturer has an aggressive investment plan of Rs 10,000 crore.
“Over the next 5-7 years, we are aiming to create the next generation of mobility solutions that are relevant to customers across the world. To this end, we have earmarked an investment of Rs 10,000 crore along with our ecosystem, which will be utilised towards research and development of alternative mobility solutions, modern, state-of-the-art, sustainable manufacturing facilities, network expansion, and brand-building across the globe. As we enter a new decade, we are aiming at ushering in the next wave of mass mobility that is accessible, convenient and environment-friendly, which is aligned with our rejuvenated Vision of ‘Be The Future of Mobility’, said Dr Pawan Munjal.
He also revealed that – as the two-wheeler market, both in India and abroad, scrabbles for growth in a disruptive environment that is seeing electric two-wheelers make the headlines – the company is realigning its vision for sustainable growth.
Meanwhile, Hero MotoCorp revealed that the company will, in a few months, achieve the cumulative production milestone of 100 million units since rollout of Hero bikes began in 1985. This is the fastest for any company around the world, claims Dr Munjal.