Hero MotoCorp to enter European markets by 2015

In the first phase of its expansion plans in Europe, the company plans to launch its products in Italy, Spain and France followed by the UK and Germany in the next phase of expansion, Hero MotoCorp has said in a statement.

To begin with, the company will launch its first serial-hybrid scooter Leap in these markets. Subsequently, the company will introduce more models including scooters and motorcycles.

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

EICMA is the marketing body of Italy’s National Association of Bicycles, Motorcycles and Accessories (ANCMA).

Hero is looking for potential partners and even open to mergers and acquisition opportunities to be able to make quick inroads in these markets, Munjal added.

“This is in line with our vision of making Hero a truly global brand in its range of quality products, scale of operations and geographical footprint,” Munjal further said.

Hero MotoCorp had recently announced an investment of US$ 800 million in building capacity across the globe in the next few years. 

Expanding aggressively over the past three years, the company is already present in over 20 countries across Central and South America, East and West Africa and Asia. By 2020, the company aims to be in over 50 countries with 20 plus assembly facilities across the globe.