Hero To Enter Europe By End Of 2015

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India's largest two-wheeler manufacturer, Hero MotoCorp, is looking to venture into the European market by the end of 2015, in countries like Italy, Spain and France.

The company will debut the Leap, a hybrid scooter in Europe. Hero will first launch its product line in Italy, Spain and France to begin with, then penetrate into UK and Germany.

The company will begin its endeavour by selling the Leap, and then add more scooters and motorcycles to its line up.

Pawan Munjal, the Vice Chairman and CEO of Hero MotoCorp said, "Having already stamped our presence in Asia, Africa, Latin & Central America, we are now now looking at stepping into the European market by the end of 2015 with our hybrid scooter Leap making its debut here."

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The company has its choices open to get in partnership with another company, or even merger and acquisition, to open up the roads for an easier entry.

Hero MotoCorp recently spoke of an investment of USD 800 million for building capacity across the globe in the next few years.

The company, by the end of 2020, is looking to have a presence in over 50 countries worldwide with more than 20 manufacturing facilities. The two-wheeler maker is currently present in over 20 countries.

Hero MotoCorp is also looking to enter the US and Brazilian market by 2016, and is very much in the process of setting up two more manufacturing facilities in India.

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Story first published: Thursday, November 6, 2014, 11:28 [IST]
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