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Hero MotoCorp Enters Bangladesh, Manufacturing Plant To be Setup
Hero MotoCorp, the world's largest two-wheeler manufacturer in terms of sales, has entered Bangladesh through a joint venture with Nitol Niloy Group. Hero holds a majority 55 percent stake in the joint venture.
Hero MotoCorp will launch 11 of its popular motorcycles and scooters models in Bangladesh. These products will be sold initially through 50 outlets. The company will also offer a five-year warranty on all products, a first in Bangladesh.
The joint venture will also set-up a manufacturing facility in the country. In fact, this will be the first Hero MotoCorp production facility outside of India. The plant will be operational by the second quarter of financial year 2015-16, and the JV will invest $40 million over five years.
Hero MotoCorp will sell the following bikes in Bangladesh: 100cc bikes HF Dawn & HF Deluxe, Splendor+, Splendor Pro the new Splendor iSmart and Passion Pro; 125cc Super Splendor and Glamour; 150cc Xtreme and Hunk; and the 100cc scooter Pleasure.
Aside from Bangladesh Hero MotoCorp also does business in 18 countries including Peru and Ecuador in South America; Guatemala, Honduras, El Salvador in Central America; Kenya, Mozambique, Tanzania and Uganda in East Africa; Burkina Faso, Ivory Coast, Congo and Angola in West Africa and most recently Turkey and Egypt. The company has also established its international assembly units in Kenya, Tanzania and Uganda in East Africa through its distributors.
"The commencement of our operations in Bangladesh is a significant milestone in our strategic global expansion plans.," Mr. Pawan Munjal, Managing Director & Chief Executive Officer, Hero MotoCorp Ltd. ‘With the setting up of the state-of-the-art world class plant here, we will bring the latest modern technology into the country. This will generate direct & indirect employment and opportunities in the country."
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