Hero MotoCorp to enter Argentina, Mexico, Nigeria

Hero MotoCorp, the world’s largest two wheeler manufacturer by volume, is planning to enter three new countries – Argentina, Mexico and Nigeria - by the end of the year.

In a fresh effort to expand its global footprint, Hero is looking at selling a total of over 2.5 lakh units in the international market by the end of this financial year. That’s a 25 per cent jump in sales from 2 lakh units sold internationally in the previous fiscal.

“We are looking to enter Argentina, Mexico and Nigeria by the end of this year,” Hero MotoCorp Senior Vice President and CFO Ravi Sud is quoted as saying in an analyst call recently.

Currently, Hero MotoCorp sells its two wheelers in 24 countries, including Sri Lanka, Nepal, Bangladesh, Egypt and Turkey in Asia and Peru, Ecuador and Colombia in South America apart from others.

Last month, Hero began operations at a new facility at Villa Raca in Colombia, its first plant outside India, built at a cost of US$ 70 million. Hero aims to ramp up production capacity at this plant to about 4,000 units a month, from the current 2,500-3,000 units a month.

By 2020, Hero aims to have presence in over 50 countries with more than 20 assembly facilities globally.