Hero MotoCorp to establish new two-wheeler unit in Brazil

It will invest in the new entity in phases, and cater to the manufacturing and distribution of two-wheelers, including parts and accessories.

Autocar Pro News Desk By Autocar Pro News Desk calendar 08 May 2024 Views icon5330 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Hero MotoCorp to establish new two-wheeler unit in Brazil

Two-wheeler major Hero MotoCorp is all set to establish its first overseas manufacturing factory in Brazil,according to an official company statement. According to the company, this will be a new wholly owned subsidiary in Brazil, which will most likely be named ‘Hero MotoCorp do Brasil Ltd.'

"It will invest in the new entity in phases, and cater to the manufacturing and distribution of two-wheelers, including parts and accessories," the statement read. Currently, Hero MotoCorp has a presence in over 47 countries.

Prior to this, Pune-based Bajaj Auto made its overseas manufacturing debut in 2023 in Brazil through its wholly-owned arm, Bajaj Do Brasil.

Going forward, the company expects the macro‐economic factors to aid the industry’s growth. "With commodity prices remaining stable, expectations of normal monsoons, and government spending expected to increase, we see multiple tailwinds for the sector over the upcoming quarters. We will be driving market share gains on the back of our launches in premium and 125 cc segments in FY24.

Further, we are going to boost the scooter portfolio by launching Xoom 125 cc and Xoom 160 cc in the first half of the fiscal year. The coming year will see us taking big strides in EVs through product launches in the mid- and affordable segments. Overall, we see a very positive outlook for upcoming years,” Niranjan Gupta, CEO of the company, said. 

 

RELATED ARTICLES
Going back to first principles in EVs is opening up new opportunities, says Tata Technologies’ John Johnston

auther Autocar Pro News Desk calendar24 May 2024

The philosophy of rethinking EVs does give really big opportunities for vehicle lightweighting.

Steel is a wonder material from a vehicle lightweighting perspective: JSW Steel’s Kinshuk Roy

auther Autocar Pro News Desk calendar24 May 2024

With advancements in high-strength and advanced high-strength steel, manufacturers can achieve significant weight saving...

'Lightweighting an important parameter from environment perspective:' IV Rao

auther Autocar Pro News Desk calendar24 May 2024

IV Rao, the former engineering head of Maruti Suzuki said that weight reduction of vehicles was an important parameter f...