Hero MotoCorp grew by less than 1 percent in the last fiscal.
Hero MotoCorp’s MD and CEO, Mr Pawan Munjal, has revealed to Times of India that the company has 6 new launches slated for the financial year 2017-18. Hero will also be investing INR 2,500 crores in the next two years.
Hero MotoCorp has been investing money towards long-term sustainable growth, the INR 850-crore research and development facility in Jaipur (CIT) being a prime example of that.
Speaking about the proposed investment, Mr Munjal said:
This will be spent on new product development, digitisation, phase-wise capacity installation and expansion at its existing facility at Gujarat and upcoming plants at Andhra Pradesh & Bangladesh. With half a dozen new launches slated for FY’18, we will go for aggressive market share gains.
He also added that a portion of the money will be used for upgradation and modernization of existing plant machineries. Hero MotoCorp will be focusing on the premium segment for both scooters as well as motorcycles. The upcoming Hero Xtreme 200S is expected to be their first new product in the premium segment which Hero had earlier claimed will be launched by the 2018 Auto Expo.
The company had also showcased a 125 cc and 150 cc scooters (Hero Dare and Hero Zir respectively) at the 2016 Auto Expo and they could be the first premium scooters from the company.
Hero Dare – Image Gallery
[Source: Times of India]