Hero MotoCorp crosses 100-million milestone in cumulative production

Hero MotoCorp | File

Hero MotoCorp, the country's largest two-wheeler maker, on Thursday said it has crossed the 100 million (10 crore) cumulative production milestone since its inception in 1984, and announced to introduce over 10 products annually in the next five years to keep its growth momentum.

The company rolled out the 100 millionth unit, Xtreme 160R model, from its manufacturing facility in Haridwar.

Incorporated on January 19, 1984, Hero MotoCorp achieved its first one million cumulative production milestone in 1994 and went on to cross 50 million units in 2013 and 75 million units in 2017.

"We have travelled from 50 million units to 100 million units in mere seven years...the milestone is a symbol of our perseveranceand fruition of our dreams," Hero MotoCorp Chairman and CEO Pawan Munjal said while virtually addressing a global audience.

It is also the success of evolving engineering, operational excellence and sustainable practices and the holistic ecosystem built on trust and belief that have grown along with this company, he added.

Stating that the landmark is also an affirmation of the inherent capabilities in India and Hero'sbrand appeal, he said, "We have been making in India, for the world and this milestone is anacknowledgment of the customers' preference for Hero across geographies, demographics andgenerations."

Besides India, Hero MotoCorp currently sells its products in over 40 countries across Asia, Africa, Middle East, and South and Central America. It has eight manufacturing facilities six in India, and one each in Colombia and Bangladesh.

Charting out the company's journey ahead, Munjal said, "We are going to continue to ride on our growth journey. In keeping with our vision to 'be the future of mobility' we will be launching a host of new motorcycles and scooters over the next five years, in addition to expanding our global footprint."

The company will also continue to invest in research and development (R&D) and focus on new and alternative mobility solutions, he added.

The company will continue to work towards the propagation of new mobility solutions both through its internal programmes and by supporting the larger external ecosystem.

As part of the next 5-year plan, Hero MotoCorp will introduce over 10 products, including variants, refreshes and upgrades, every year. It will also continue to grow its operations in existing markets while also entering key markets in new geographies.

Munjal also said the company will continue to reduce its carbon footprint through its green facilities and fuel-efficient products.

To mark the rolling out of the 10 crore cumulative units milestone, Munjal unveiled six special celebration edition models at the company's manufacturing unit at Gurugram.

The company said the six celebration edition models -- Splendor+, Xtreme 160R, Passion Pro, Glamour (motorcycles) and Destini 125, Maestro Edge 110 (scooters) -- will go on sale from February 2021.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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