Hero MotoCorp Limited: History, Company Profile, Founder

onJuly 30, 2022

Established in India, Hero MotoCorp Ltd is an international producer of motorcycles and scooters. The company produces and sells scooters, motorbikes, accessories, and spare parts. Hero MotoCorp manufactures and assembles most of its products domestically. Hero MotoCorp has operations in Latin America, South Asia, Africa, and the Middle East, while the majority of its revenue comes from its home operations. 

Hero MotoCorp is well-known for its brilliance and accomplishment throughout its work with the public. Hero MotoCorp, the leading two-wheeler manufacturer in India, has provided its customers with a fantastic assortment of two-wheelers that ensure comfort and style. After-sales of motorcycles, sales of scooters make up the second-largest portion of total revenue. Hero MotoCorp’s roots can be found in the concept of a mobile, independent India propelled by two wheels. By establishing standards for design, functionality, and technology, the company hopes to become the top two-wheeler producer in the world.

Hero MotoCorp Founder

Hero MotoCorp was founded by Brijjmohan Lall Munjal, an Indian businessman. He was born in 1923 in Punjab. He worked at the Army Ordnance factory. Munjal was from a simple middle-class Arora/Khatri family. In 1956, Hero cycles were registered as large-scale industrial units, with capital partly financed by the Government of Punjab. In 1975, the company became the largest bicycle manufacturer in India.

Brijjmohan Lall Munjal, an Indian businessman, founded Hero MotoCorp. He was born in Punjab in 1923. He had a job at the army’s ammunition plant. Munjal came from a straightforward Arora/Khatri middle-class family. Hero cycles were registered as large-scale industrial entities in 1956, with capital assistance from the Punjabi government. The firm rose to prominence as India’s leading manufacturer of bicycles in 1975.

Hero MotoCorp History

In 1984, the Japanese company Honda and the Indian company Hero Cycles established a joint venture, which became known as Hero Honda. Some classic motorcycles are made by the joint venture between Hero and Honda. One such motorcycle was the brand’s inaugural model, the CD100. In India, 4-stroke motorcycles were originally made available by Hero Honda. The motorcycles from the well-known brand were noted for their superior fuel economy, low price, and high level of manufacturing quality.

The company gradually adjusted its offering to meet customer needs. After the partnership in 1984, the second motorcycle was the Hero Honda Sleek. In 1989, they introduced ‘Sleek’, a motorcycle model boasting a simple yet elegant design. The motorbike had a 97.2cc engine that generated 7 horsepower and 7.5 pound-feet of torque through a 4-speed transmission. The motorcycles’ USP wasn’t simply their good appearance; it was also the fact that they weighed just over 100kg. In 1991, they built their 500,000th bike. 

Hero Honda released a variety of motorcycles at the turn of the 20th century that was well-liked by people of all ages. The firm became what it is now due to low cost, excellent fuel efficiency, and high refinement. The Splendor Motorcycle rose to the position of top-selling two-wheeler brand in 2000. The company achieved the distinction of being the biggest two-wheeler producer in the world in 2001.

Honda joint venture’s dissolution and renaming

Following the establishment of Hero Honda, the firm showed a number of its popular motorcycle models one after the other. Their output had significantly grown by that point, and sales had risen correspondingly. In a short period, sales of Hero-Honda motorcycles in India reached their pinnacle due to their competitive pricing, high efficiency, and quality.

As a result, Hero Honda began to consider growing its sales in foreign markets following the internal market. However, they were unable to pursue the foreign market due to the terms and conditions of the joint venture. They could only expand their market through their joint venture in Sri Lanka, Bangladesh, and Nepal because Honda didn’t engage in any individual business there.

Given this circumstance, the board of directors of Hero-Honda ultimately decided to end the joint venture in 2010. In this case, the corporation is both interested in expanding and in addressing a specific market in India and abroad. As a result, they decided to dissolve the joint venture using the Hero Honda name.

Hero MotoCorp founded – Formation of the new company

The joint venture was terminated at some stage after removing investment, capital, share, and liability. The business changed its name to Hero MotoCorp Limited on July 29, 2011. The company disclosed its new logo and brand name, HERO, in August 2011. As a result, Hero Group owns the HERO entirely.

In contrast, Hero Honda was entirely created with the help of Honda R&D starting in 1984. In 2012, the Hero brand began its full-throttle solo business. Since then, the complete array of their products has been marketed under the name HERO. However, following a previously agreed-upon arrangement, Honda R&D continued working with Hero until 2014 to support technology for current and forthcoming products.

Together with Atlas Bangladesh Limited, Hero Honda motorcycles, for the first time, entered the Bangladeshi motorcycle market. The contract between Hero Honda & Atlas Bangladesh Ltd also came to an end following the dissolution of the Hero Honda joint venture. Afterwards, the newly formed company Hero MotoCorp joined forces with the Bangladeshi firm Nitol Niloy Group. Beginning in April 2014, Nitol Nily Group began selling motorcycles under the Hero brand in Bangladesh. As part of that agreement, HERO agreed to manufacture its motorcycles in a factory in Bangladesh. That is the first contract of Hero’s joint venture to construct its first production facility outside of the country, which will be in Bangladesh.

Hero MotoCorp Company Profile

Hero MotoCorp produces two-wheelers in four facilities that are up to or better than international standards. The northern Indian cities of Dharuhera and Gurgaon are home to two of them. The third production site is located in Uttarakhand, a state known for its mountains, in the town of Haridwar. A state-of-the-art Hero Garden Factory is also located in Neemrana, Rajasthan.

The Hero Honda joint venture made it possible to purchase clean-running motorcycles. They also set the standard for low emissions and fuel efficiency. Since the manufacturer promised the best mileage for their product, millions of bikes were eventually sold. By building the greatest automobiles possible for its clients, the company has experienced consistent growth. When Hero Honda was the first national manufacturer to launch four-stroke motorcycles, it raised the bar for quality, effectiveness, and pollution management. A first-rate national distribution and servicing network is the strength of the organization. 

The company’s entry into the two-wheeler market in India results from an intrinsic ability to extend its reach into new topographies and expanding areas. There are already more than 6000 consumer impact locations in Hero MotoCorp’s overall sales and servicing network. Considering that these outlets are dispersed around the country and comprise a mix of service and spare parts stores, authorized dealerships, and dealer-appointed stores.

It was now permissible for Hero MotoCorp to export their motorcycles to any nation. It sends a lot of motorcycles to West Asia, Africa, and Latin America. People had second thoughts regarding the retirement of the joint venture between the two businesses. But Hero overcame, and now it is a well-known and respected motorcycle manufacturer brand. The first motorcycle from the Indian manufacturer that Hero MotoCorp only released was the Hero Impulse. After that, upgraded 100cc engines in splendours, and the Hero Ignitor appeared.

Hero MotoCorp owner

Under Dr Brijmohan Lall Munjal’s leadership, Hero Group was established. Munjal, a first-generation businessman, used a combination of boldness and persistence to establish both the No. 1 two-wheeler company in the world and one of the nation’s most renowned corporate groupings. In the late 1920s, as the Indian independence movement began to take shape (Pakistan), he enrolled in a freshly opened Gurukul (Indian heritage school) close to his home in Kamalia, where he initially started to improve his abilities.

Mr. Pawan Munjal is now the CEO, managing director, and chairman of Hero Motocorp. Munjal is in charge of growth and strategic planning for the entire Group. The organization has achieved technological and management excellence in its operations thanks to Mr. Munjal’s mechanical engineering degree. He serves as the president of the Hero Indian Sports Academy (HISA) foundation, which seeks to recognize national talent and provide equal opportunities for participation in sports for all groups. Mr. Niranjan Gupta, who has held financial leadership positions at Vedanta Resources and Unilever, is the current Chief Financial Officer of Hero Motor Corp. 

Involvement areas for Hero MotoCorp brands

World-class capabilities for research and development

The cutting-edge, world-class Center of Innovation and Technology (CIT), located in Jaipur in the Indian state of Rajasthan in northern India, serves as the global headquarters for Hero’s Research and Development. CIT is trying to develop a new line of mobility solutions for clients all over the world with the help of more than 700 engineers worldwide. The world’s best product design, development, testing, and validation facilities may be found at the sizable, groundbreaking, first-rate R&D Center.

It becomes more and more crucial to follow modern standards as time goes on. To develop innovative vehicle concepts and cutting-edge technologies, the staff at CIT in Jaipur collaborates closely with the Hero Tech Center in Germany, a wholly-owned subsidiary of Hero MotoCorp. To build a strong R&D ecosystem that is distributed globally, Hero MotoCorp also developed the “Hero Tech Center Germany GmbH” in Stephanskirchen, close to Munich. Consumer needs or conditions should drive innovation, and Hero Motocorp stands out for consistently offering amazing services to its clients.

Hero MotoCorp collaborates with leading international design and technology firms from Thailand, Italy, Spain, and Spain as part of its technological ecosystem. The company is creating market-specific items to meet each client’s requirement, following the unique demographics of its customers in various parts of the world.

Sustainable and green manufacturing

The foundation of Hero MotoCorp’s manufacturing facilities is sustainable development, as the company is dedicated to upholding the greatest environmental standards. Eight production plants, six in India and one in Bangladesh and Colombia, are owned and operated by Hero MotoCorp.

Facilities can be found in India at Dharuhera and Gurugram in the state of Haryana in the north; Chittoor in Andhra Pradesh; Haridwar in Uttarakhand, which is mountainous; Neemrana in the state of Rajasthan, also in the north; and Halol in Gujarat, which is a coastal state in the west. Others include the plant that is situated in Bangladesh’s southwestern city of Jessore and Colombia’s Villa Rica in the province of Cauca.

When it began conducting business at its manufacturing facility in Colombia in 2016, it became the lone Indian two-wheeler manufacturer to establish a manufacturing base in Latin America. Approximately 9 million two-wheelers can currently be produced annually by Hero MotoCorp. Because of their numerous initiatives that have redefined green manufacturing, the company’s manufacturing facilities in Neemrana and Halol have been fittingly dubbed the ‘Garden Factories.’ In the southern Indian state of Andhra Pradesh, Hero MotoCorp will build a new manufacturing facility at Chittoor.

A safer, greener & more equitable earth environmental friendly

Hero MotoCorp has always gone above and beyond its business goals to ensure a healthy, secure, and joyful environment for society. The lives of hundreds of thousands of people continue to improve as a result of its initiatives noticeably. The ‘Ride Safe’ campaign, girl child empowerment, and the “Happy Earth” program for the environment are the three focal points of Hero’s Corporate Social Responsibility (CSR) platform.

Over 100,000 people, including students, teachers, police officers, and Hero customers, have participated in the company’s Ride Safe initiative, which has been acknowledged by the Ministry of Road Transport and Highways of the Government of India. Over 100,000 impoverished adolescent girls have already benefited from the ‘Hamari Paris (Our Angels) program, which acknowledges girls’ capacity to become agents of social change through financial aid, motivational talks, and counselling camps.

The Happy Earth program seeks to protect, conserve, restore, and make the best use of environmental resources through numerous activities, such as tree-planting drives, water conservation programs, and wildlife protection. Hero has also contributed to the socio-economic advancement of more than 100 villages in various regions of India as part of its Community Care Program by undertaking projects such as youth skill development, sports promotion, health clinics, and water harvesting projects.

As a Sports Hero

One of the biggest corporate sponsors of several sporting disciplines worldwide is Hero MotoCorp. Hero MotoCorp has been connected with sports like golf, football, field hockey, and cricket for more than 20 years, driving innovation in sports to draw in new audiences.

The most prominent corporate supporter of football in India is Hero MotoCorp, which supports the sport on all platforms. Hero is the Title Sponsor of all the major domestic leagues, including the Hero Indian Super League, Hero i-League, Hero i-League for women, Hero Super Cup, and the Hero Intercontinental Cup, in addition to being the Sponsor of the Indian national teams for men and women across all age levels. Hero also served as India’s official Sponsor of the 2017 FIFA Under-17 World Cup. Diego Simeone, a football legend from Argentina and the head coach of Atletico Madrid, serves as the company’s brand ambassador.

Field Hockey will be supported and popularized by Hero MotoCorp in India and internationally. Hero sponsored both the Men’s Hockey World Cup in Odisha in 2018 and the Men’s Hockey World Cup in New Delhi in 2010 as the Title Sponsor. Hero is still a dependable business associate of the International Hockey Federation (FIH). Hero has collaborated with essential hockey leagues in India over the years, including the Men’s Hockey World League, Hero Hockey Champions Trophy, and Hero Hockey India League. Hero also served as the Asian Champions Trophy’s title sponsor in 2018 and for the Men’s Asia Cup in 2017.

Hero MotoCorp, a truly global leader in the automotive industry with a client base that is constantly growing across continents, is still dedicated to creating and developing green mobility solutions for the entire world. The company has established new standards for sustainable business practices and green production, and its social responsibility programs are still enhancing society.

Operations

To introduce high-end bikes for the domestic and foreign markets, the firm entered into a strategic relationship with Erik Buell Racing (EBR) of the USA in February 2012. Erik Buell Racing provides modern technology and design contributions. Hero Motocorp started building on its new facility and global parts centre in 2013. The company starts work on building its “GAME-CHANGING” global innovation and research and design centre. The Hero Splendor, the company’s best-selling bike, sells more than 10 lakh units annually. Since its founding in 1984, the firm has sold more than seven crores (70 million) of two-wheelers since March 2013.  

Hero MotoCorp introduced two scooters on September 29, 2015, under the names Maestro Edge and Duet. At the Auto Expo trade show in New Delhi in February 2016, Hero MotoCorp displayed three new motorcycles—the Splendor iSmart 110, the Xtreme 200 S, the XF3R, and an electric scooter called the Duet E. The Hero MotoCorp Global Centre of Innovation and Technology (CIT), a state-of-the-art facility, was formally opened on March 10, 2016, in Jaipur, Rajasthan. The CIT, which was constructed with an investment of Rs 850 crore, will design and create top-notch products for markets around the world.

The new Splendor iSmart 110, the first motorbike built in-house using Hero MotoCorp’s technology, was introduced on July 14th, 2016. To celebrate the historic 70 millionth two-wheeler, Hero MotoCorp debuted the Limited Edition of the brand-new, high-end Achiever 150 motorcycle on September 26, 2016.

The brand-new Dawn 125 motorbike was unveiled by Hero MotoCorp on November 10, 2016, at the EICMA Motorcycle show in Milan, Italy. The Dawn 125 motorcycle was created especially for the continent of Africa as part of Hero MotoCorps’ market-specific product strategy. Hero MotoCorp’s new Glamour motorcycle made its first-ever global debut outside India on January 12, 2017, in Argentina. On October 3, 2017, Hero MotoCorp announced that it had broken the seven lakh sales barrier in any month to set a new benchmark for the worldwide two-wheeler market. On April 3, 2017, Hero MotoCorp stated that it had sold 66,63,903 units in FY 2017, up from 66,32,322 units in the prior fiscal year, marking the company’s highest-ever sales in a calendar year (FY 2016). At the second global manufacturing site in Bangladesh, Hero MotoCorp began commercial production in May 2017.

Hero MotoCorp declared on October 11 that it had achieved a new milestone by selling 2 million units in the second quarter of 2017. The company shipped 720,739 units in September 2017, recording its highest-ever monthly sales thanks to strong demand for its selection of two-wheelers. In Q2 September 2017, Hero MotoCorp sold 20,22,805 two-wheelers, an increase of 11% over the same period in the previous fiscal. At the EICMA annual trade show in Milan, Italy, on November 7, 2017, Hero MotoCorp showcased the Xpulse Concept motorcycle in a world premiere. 

Hero MotoCorp announced three new motorcycles on December 21: the 125cc Super Splendor, the 110cc Passion PRO, and the 110cc Passion XPRO. To partially offset increased input costs, Hero MotoCorp said on December 22nd that starting on January 1st, 2018, it would be raising the ex-showroom prices of its motorcycles by around Rs 400 per model. The company aimed to sell 10 lakh two-wheelers by 2016–17 and earned 64,000 crores in revenue (equivalent to 780 billion rupees or $10 billion). In 2017, Hero MotoCorp surpassed the historic milestone of seven million units sold cumulatively in a calendar year. In the 2017 calendar year, the firm sold a record-breaking 7,207,363 two-wheelers. On May 1, 2019, Hero MotoCorp introduced the XPulse 200 adventure motorbike and the XPulse 200T touring motorcycle in India.

Now, Hero MotoCorp owns five production facilities, which can be found in Haridwar, Neemrana, Dharuhera, Gurugram, and Halol. Over 76 lakh (7.6 million) 2-wheelers can be produced annually at these plants combined. Over 6,000 dealerships and service locations make up Hero MotoCorp’s extensive sales and service network in India. Since 2000, it has operated a customer loyalty program known as the Hero Honda Passport Program, now dubbed the Hero GoodLife Program. The company’s eight top-notch manufacturing facilities have an annual capacity of 9.1 million units as of March 31, 2020. Along with these production facilities, the company also operates two cutting-edge R&D facilities, each in Germany and Jaipur.

Hero MotoCorp subsidiaries

As of March 31, 2019, there were seven subsidiaries under the Hero MotoCorp brand, including three associate firms and two step-down subsidiaries. The company established a Tech Center in Germany as its wholly-owned subsidiary during the 2019 fiscal year under the name Hero Tech Center Germany GmbH. The company sold more automobiles worldwide than any other two-wheeler company during the fiscal year 2018–19, exceeding 78.21 lakh units. The sixth production facility of the company, with a Phase I installed capacity of 0.4 million units, was commissioned in the Andhra Pradesh state’s Chittoor District during FY 2019–20. Out of the estimated total investment of Rs 1,600 crore for the construction of the manufacturing facility, roughly Rs 700 crore was spent on Phase I.

In FY 2019–20, all platforms successfully switched from BSIV to BSVI emission requirements on schedule. Erik Buell Racing, Inc. ceased to be a firm associate during the year due to the dissolution of the company’s wholly-owned subsidiary, HMCL (NA) Inc., which had invested in Erik Buell Racing, Inc. The company, which had six subsidiaries as of March 31, 2020, including step-down subsidiaries and two associate companies, routinely assesses the performance of these businesses.

Hero MotoCorp produced more than 100 million units in January 2021. The Hero will be the only Indian automaker to make more than 100 million cars as of 2021. Hero MotoCorp sold 484,405 units in February 2021, an increase of 0.9%. Hero MotoCorp has introduced an online virtual showroom—the current world run on a virtual village, and considering that vital fact, a virtual museum was presented. The virtual museum allowed customers to browse, interact with, and buy the company’s motorcycles and scooters online.

What makes Hero MotoCorp the best Motorcycle Company in India?

The company’s mission statement, ‘Be the Future of Mobility,’ guides all of Hero MotoCorp’s actions as well as the company’s goods and services. Hero MotoCorp, one of India’s top manufacturers of motorcycles, adheres sternly to the basic principles of passion, integrity, respect, courage, and responsibility. It also promises consumer safety and satisfaction. 

Eight production sites, including six in India (Chittoor, Dharuhera, Haridwar, Gurugram, and Gujarat) and one in Colombia and Bangladesh, are owned and operated by Hero MotoCorp. As the most prominent and excellent bike manufacturer in India and the World’s No. 1 two-wheeler firm in terms of unit volume sales in a calendar year, the company earned the most coveted recognition in 2001. Hero MotoCorp Ltd. has kept this position up to this point.

Hero MotoCorp, a corporate leader and the top motorcycle manufacturer in India, adhere to the ‘Manufacturing Happiness’ philosophy in all of its manufacturing facilities. This is done to reduce the adverse effects on the environment and foster the growth of a thriving ecosystem. Hero MotoCorp has four main programs as part of its ‘We Care’ CSR initiative: Happy Earth, Ride Safe India, Hamari Pari, and Educate to Empower. Hero MotoCorp can maintain its status as one of the nation’s top two-wheeler manufacturers thanks to these initiatives.

Hero MotoCorp Products

During its time as Hero Honda and as of today, Hero MotoCorp remains not only India’s but the world’s biggest two-wheeler company concerning sales in a year. Hero MotoCorp has established industry standards in all market areas. It provides a comprehensive range of two-wheeler products, from commuter bikes to zippy scooters to sporty motorcycles. 

The following motorcycles and scooters are just a few of Hero MotoCorp’s well-known models that have changed the automotive industry – Pleasure, Maestro Edge, Duet, HF Dawn, HF Delux, HF Delux Eco, Splendor+, Splendor Pro, Splendor Pro Classic, Splendor iSmart, Passion Pro, Passion i3S, Splendor iSmart 110, Passion XPRO, Super Splendor, Glamour, Glamour FI, Ignitor, Achiever, Hunk, Impulse, Xtreme, Xtreme Sports, Karizma ZMR are just a few examples from Hero MotoCorp’s product line of popular models that have revolutionized the Indian two-wheeler market.

Hero now sells scooters with 110cc and 125cc engines. The Maestro Edge 110 and the Pleasure Plus line are included in the 110cc category. The Maestro Edge 125 and the Destini 125 are two examples of 125cc scooters. These are young and useful at the same time.

Hero’s primary concentration is still on their commuter bike line, which includes the Passion, Splendor, Glamour, HF, and XPulse 200T models, with bikes ranging in size from 100cc to 200cc. In Hero’s current lineup, the HF 100 is the bike with the lowest price. Not to add that the Splendor and Passion are among the most well-liked commuters in the nation.

Of all the motorcycles Hero MotoCorp has ever produced, the Hero Xtreme 160R unquestionably has the nicest aesthetics. Although it doesn’t explicitly focus on performance, this bike wants to stand out from the crowd. However, it is also relatively practical and should meet your demands for daily commuting, much like the entire Hero bloodline. Only the Xtreme 200S from Hero is now available as a faired motorbike. It combines bold style with helpful hardware. Because of its easy-going ergonomics, the Xtreme 200S isn’t a proper sports bike.

The Hero XPulse 200 is one of the smallest yet most potent products available online. It also serves as the basis for several rally bikes and race dirt bikes. The motorcycle did an excellent job and proved to be a skilled off-roader.

Services and maintenance schedule

On all of its two-wheelers, Hero MotoCorp provides free servicing. You must use these services within the allotted time frame or mileage range, whichever is shorter, starting from the date of purchase. You must continue using paid benefits by the suggested service schedule after the free services have ended or reached the end of their validity period. By taking good care of your two-wheeler repair and maintenance through the network of more than 6000 dedicated dealers and service outlets across the country, the company continuously works to maintain its mandate of giving the best customer satisfaction.

Modern approved workshops with well-defined standards for maintaining two-wheelers, a fully functional infrastructure with top-notch precision instruments, pneumatic tools, and a staff of highly qualified service professionals. The highest levels of service quality and dependability are guaranteed when your two-wheeler is serviced at an approved workshop.

Hero Genuine Parts

The only authorized parts for your Hero two-wheelers are Hero Genuine Parts. They are expertly engineered to be a perfect fit for your bike, giving you improved and unrivalled performance. Before becoming a Hero Genuine Part, every component must pass a rigorous test with critical quality checkpoints. HGP products are sold through a vast global distribution network that includes more than 95 parts distributors, 800 authorized dealers, 1300 approved service centres, and 6000+ touch points in India and over 35 other countries. Additionally, Global Parts Center (GPC) in Neemrana is now the source of these components.

GPC exemplifies the potential of the future. They are combining cutting-edge systems with state-of-the-art production facilities to create a comfortable, healthy, and beautiful atmosphere for employees to work in. GPC, which spans 35 acres, and the similarly magnificent Hero Garden Factory are both essential components of the Hero Neemrana Complex in the Indian state of Rajasthan. GPC is based on lean manufacturing processes and is intended to require little manual labour while significantly increasing productivity. In addition to other cutting-edge ideas like Uni-Shuttle and Rail Guided Material movement systems, it is equipped with an automated storage and retrieval system (ASRS), an automated packaging and sorting system, and other modern concepts. These are all managed by an individualized and customized Warehouse management system. This technological marvel sets a new standard for the car industry. Indian Green Building Council (IGBC) has certified Garden Factory as a platinum class manufacturing plant, adhering to the green building principle.

Hero MotoCorp is dedicated to lowering the total cost of ownership of a two-wheeler and improving the customer experience through its products, components, and services. Despite having the highest quality requirements, every product in the HGP line is priced affordably to help consumers avoid having to replace parts as often. The costs associated with purchasing, installing, using, maintaining, and replacing a product are thus included in the endeavour.

Hero MotoCorp – Genuine Accessories

To sell hero original parts and accessories for its two-wheeler goods, Hero MotoCorp has created an online store. Through the e-commerce site, they will be able to order genuine parts and accessories from the business online. They’ll be able to click a button from the comfort of their homes and purchase the appropriate parts for their motorcycles and scooters. Innovation is a priority for the two-wheeler firm across all of its service offerings. The business hopes to connect with its clients through this all around the nation.

Hero MotoCorp Partnerships

One of the fascinating sectors in the emerging mobility field is an investment in other energy, which is electric. Hero MotoCorp invested in Ather Energy in 2016, a manufacturer of electric two-wheelers that later introduced several products. Hero MotoCorp, after that, took part in more funding rounds. The company increased its ownership stake in Ather Energy to 34.58 per cent in July 2020 by investing Rs 84 crore.

Hero MotoCorp then made a second Series D investment in the firm for electric vehicles in November 2020. The company and Harley-Davidson (H-D) signed a distribution agreement in October 2020. As part of that agreement, the company will sell and service H-D motorcycles in India and available items such as riding gear, clothing, features, and accessories. The company has added 11 Harley-Davidson dealers to its distribution network. Hero MotoCorp Ltd. has been appointed Harley-distributor Davidson’s in India since January 1, 2021. Harley-Davidson and Hero MotoCorp Ltd. also signed a licensing agreement. The company would create and market a line of high-end motorcycles under the H-D brand.

The organization formed a strategic partnership with Gogoror Inc. in FY2021, hoping to speed up India’s switch from fuel-based transportation to environmentally-friendly electric mobility. During the fiscal years 2020–21, the company entered the Mexican market and increased its activities outside of India to 41 regions. On February 4, 2021, the business announced a special dividend of Rs 10 per share to commemorate the historical production of 100 million two-wheelers.

Latest news about Hero MotoCorp

As Covid-19 instances increased statewide during the second wave, all of the company’s manufacturing sites in the country, including the Global Parts Center (GPC) in Neemrana and its R&D facility, the Centre of Innovation and Technology (CIT), in Jaipur, temporarily suspended operations. On May 17, 2021, the business progressively resumed operations at three of its locations in the northern hill state of Uttarakhand Gurugram, Dharuhera, and Haridwar.

On May 24, 2021, the company started up again at all its manufacturing facilities in India. It created the most prominent motorcycle logo in August 2021. The most significant online photo album of people planting plants earned Hero MotoCorp distinction from the Guinness Book of World Records during the second quarter of FY2021. To increase its footprint in the Gulf region to 10 customer touch-points across five countries, the firm opened a flagship dealership there during the third quarter of FY2022. Additionally, to increase Hero’s presence in Argentina, the company partnered with Gilera Motors and opened a flagship showroom.

With effect from July 1, 2022, Hero MotoCorp will increase the ex-showroom prices for its scooters and bikes. According to the company, the price change was necessary to offset the general cost inflation, including commodity costs, which have been rising steadily. Up to Rs 3,000 in price will be revised. Depending on the specific model and market, the precise amount of an increase will vary.

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