Upcoming Two-Wheeler Launches In March 2024
- Mar 1, 2024
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Hero MotoCorp launched the solo brand “Hero” in Colombia with the launch of these bikes. The bikes have already gone on sale in the country, in 120 outlets spread across Colombia. The company plans to increase its distribution network to over 150 outlets in a year’s time.
The motorcycles launched in Colombia include the Splendor iSmart, Eco Deluxe, Passion Pro, 125cc Glamour, 150cc Hunk and the 225cc Karizma.
In July, Hero MotoCorp formed a wholly-owned subsidiary in Colombia and commenced construction of a state-of-the-art manufacturing plant in the country. The 100 per cent subsidiary – HMCL Colombia SAS – has been incorporated in the industrial city of Cali, 300 km southwest of Bogota.
With a project cost of US$ 70 million, HMCL will invest US$ 38 million in CAPEX, with the rest being utilised as working capital over the next three-year period. The equity investment will be made through HMCL’s wholly-owned subsidiary in the Netherlands –HMCL BV.
The state-of-the-art manufacturing plant - spread over 17 acres of land at the Parque Sur Free Trade Zone in Vila Rica - is expected to go on stream by the middle of calendar year 2015 with an initial installed capacity of 78,000 units. This will go up to around 150,000 units by 2017-18. With this, the New Delhi-headquartered Hero MotoCorp will be the first Indian two-wheeler company to have a manufacturing plant in Latin America.
HMCL’s new subsidiary will act as a hub for selling to the Andean countries and to Central America. It can also be a strategic base for shipping to North American markets such as Mexico and the US.
Hero MotoCorp, in partnership with its local distributors, also operates three assembly plants in Africa – in Kenya, Tanzania and Uganda. With two more new plants coming up – one in Colombia and the other in Bangladesh through a joint venture – the company is fast building up a global manufacturing base to cater to growing international markets.
HMCL has fast expanded its global footprint since it commenced its solo journey in 2011. As of today, Hero products sell in India, Sri Lanka, Nepal, Bangladesh, Turkey & Egypt in Asia; Peru & Ecuador and now Colombia in South America; Guatemala, Honduras, El Salvador and Nicaragua in Central America; Kenya, Mozambique, Tanzania & Uganda in East Africa; and Burkina Faso, Ivory Coast, Congo & Angola in West Africa.
Hero MotoCorp plans to launch its operations in Europe by 2015 and in the US by 2016.
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