The country’s most considerable two-wheeler manufacturer, Hero MotoCorp outlives an optimistic growth prospect in both domestic and international markets. As per the company’s Annual Report for 2020-21, it anticipates going forward and intensifying its bearing in the premium two-wheeler segment and develop competencies in the electric vehicle space progressing ahead.
In January this year, Hero MotoCorp reached the 100 million additive production mark. Now the corpus is set for the succeeding phase of its extension and fullness. Hero Motocorp Chairman and Chief Executive Officer Pawan Munjal recorded, “As the world recovers from the second and a significantly severe wave of Covid-19, we are upbeat about the short term growth and remain optimistic about the long-term view. We are well prepared to meet rising consumer demand and will be able to grow our business as and when the economic situation revives and re-emerges,”.
With a robust pipeline of products, including premium motorcycles and scooters, the company is centred on remitting associated products and in line with the overall viability of the company for the coming medium terms, Hero MotoCorp is certain to gripping the customers excited, Munjal stated as he notified the company’s shareholders. He further added, “The future will have to be imagined today, so it can be delivered tomorrow. As I have often said, we are aggressively working towards multiple electric vehicle (EV) programmes and platforms and also on various other modular mobility solutions. Sustainability remains critical to our ethos and we will continue to work in line with these principles,”.
Embellishing on the company’s premium division plans, he remarked that the partnership with Harley-Davidson is a crucial stepping stone in the path to ”premiumisation” of the company’s brand and product. “From building premium retail experience outlets to premium ownership models, Hero MotoCorp is enhancing capabilities and preparing itself to expand its presence in the premium two-wheeler segment,” Munjal said. The two-wheeler major is also in the process of promoting a range of premium products, both beneath Harley and Hero MotoCorp brand names, he appended.
On EV space, Munjal stated the company’s partnership with Gogoro Inc, which was declared earlier this year, is one of worldwide significance. Gogoro Inc is a Taiwanese EV company with the world’s largest battery-swapping network. “This partnership will be a key to the proliferation of electric vehicle charging technology and network. I would like to share that our relationship with Ather Energy in which we have a 38 per cent stake is actively evolving into a partnership on multiple fronts. This clearly is going to pave our way into being a market leader in the EV space,” he recorded.
Illustrating the global markets, Munjal announced the company strives to sharpen its focus on the premium motorcycles and scooters division in Bangladesh, Nepal, and Latin America. “In the African markets we are revamping our product portfolio, growing our network, and establishing our brand presence,” he continued. The motor corp major noted that the motorcycles and scooters endure the most cost-effective and fastest mode of last-mile connectivity, and is an income potent for numerous.
[…] Hero MotoCorp Limited, previously Hero Honda, is a New Delhi-based Indian multinational motorcycle and scooter manufacturer. The firm is one of the world’s largest two-wheeler manufacturers, as well as in India, where it has a 37.1% market share in the two-wheeler sector. The company’s market value was 59,600 crore (US$7.5 billion) as of May 27, 2021. As a joint venture between Hero Cycles of India and Honda of Japan, Hero Honda began operations in 1984. In June 2012, Hero MotoCorp accepted a plan to merge its parent company’s investment arm, Hero Investment Pvt. Ltd., with the manufacturer. This decision was made 18 months after the company broke from Hero Honda. […]