Hero shifts gears to stay ahead of Honda
In wake of stiff competition from its rivals, Bajaj Auto and Honda. Hero MotoCorp who are the current leaders of the two-wheeler market have chalked out new initiatives to hold its crown and will invest Rs. 1,100 crore for setting up new plants and R & D
Two-wheeler maker Hero MotoCorp has set capital expenditure for 2013-14 at 1,100 crore and put in place a strategy to build upon its leadership position in the domestic market, a top company executive has said. New Delhi-headquartered Hero MotoCorp, the country's largest motorcycle maker, on Tuesday said it plans capacity addition, new launches and network and brand-building initiatives to stay ahead of competition.
"We are no strangers to competition. We have earmarked a capex of 1,100 crore for FY14 and put in place a multi-focal strategy to sustain and build upon our leadership through new launches, capacity addition, network expansion and brand-building initiatives," senior vice-president and CFO Ravi Sud told ET.
The capital expenditure includes an investment of about 600 crore on its upcoming fourth plant and global parts centre at Neemrana, and 100-150 crore on a state-of-the-art integrated R&D centre at Kukas, both of which are in Rajasthan.
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