Hero shifts gears to stay ahead of Honda
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.