EICMA 2014 - Hero Announces European Entry by 2015 End
Snapshot: The world’s largest two-wheeler Hero MotoCorp officially announced its plans to enter Europe by the end of 2015 at the ongoing EICMA Motorcycle Show in Milan.
Hero Motocorp is on a roll since it went on a separate path than its eternal technology partner Honda. Collaborating with EBR for development and showing off the upcoming HX250R at the AIMExpo a month back, Hero has announced that it is going to enter Europe in a phased manner covering Italy, Spain and France initially, followed by Germany and the UK in the second phase. The company’s first product on offer will be the Leap hybrid scooter.
The world’s largest two-wheeler maker by volumes Hero MotoCorp officially announced its plans to enter Europe by the end of 2015 at the ongoing EICMA Motorcycle Show in Milan. Currently, Hero is looking out for potential partners in European countries and is also looking for possible mergers and acquisitions to further deepen its roots in the relatively new market. Expanding its geographical footprint, Hero sells its products across Latin America, Central America, East and West Africa as well as parts of Asia. The company has also been working on establishing new production facilities across the globe starting with Columbia and Bangladesh that are expected to commence production in 2015-16, while it already has assembly facilities in Kenya, Tanzania and Uganda.
With a target to have presence in over 50 countries and 20+ assembly facilities globally by 2020, Hero is surely being bullish about its foray into the international market. The manufacturer recently announced an investment of $800 million that will be dedicated to building capacity over the next few years. Currently, Hero MotoCorp has four facilities in the country that cumulatively churn out 7.5 million two-wheelers annually. The number will grow further to 12 million units, once the Columbia and Bangladesh facilities are operational.
Coming to the product lineup for Europe, while the Leap Hybrid Scooter that was showcased at the Auto Expo this year has been confirmed, Hero also plans to launch the upcoming HX250R across the continent but will do so after establishing a certain presence. The Hero pavilion at EICMA packs in each of the proposed products including the Hastur concept along with its range of scooters and commuter motorcycles. The company will also foray into the US and Canada by 2016 as part of its expansion plans.
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