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Hero MotoCorp partners with Grupo Salinas in Mexico

Posted On: 2021-01-27 05:09:20 (Time Zone: Arizona, USA)


In line with its global expansion strategy, Hero MotoCorp - the world's largest manufacturer of motorcycles and scooters - will soon commence its operations in Mexico.

Hero MotoCorp - which recently surpassed 100 million units in cumulative production - has entered into a distribution agreement with Grupo Salinas, a group of dynamic, fast-growing and technologically advanced companies focused on creating economic, social and environmental value founded by Mexican entrepreneur Ricardo Salinas.

Following the agreement, the two Companies have come together to form one of the largest distribution networks globally to sell competitive, high-quality products in the large Mexican market.

Dr. Pawan Munjal, Chairman & CEO, Hero MotoCorp, said, "Our partnership with Grupo Salinas is aligned with our Mission to 'Create, Collaborate and Inspire' and will be key to our growth in the region. With the global expertise and technology prowess of Hero and the local market knowledge of Grupo Salinas, we are aiming for rapid expansion of the Hero brand here over the next three years. We will be bringing products that cater to all segments of the market, thereby offering a wide range of choices for the customers in Mexico."

In the first phase of operations, Hero MotoCorp will launch nine products, including motorcycles - for work (100cc), street (125cc), premium (150cc, 160cc) and on-off segments - and scooters. All these products are being designed and developed at Hero's state-of-the-art R&D hubs in India and Germany.

Hero MotoCorp now has extensive presence across Asia, Africa, South and Central America and the Middle East. In Latin America, the Company is now present in more than 10 countries.

Hero MotoCorp has eight world-class manufacturing facilities, including six in India and one each in Bangladesh & Colombia. It also has a global R&D presence with technology centers in India, the Center of Innovation and Technology in the northern Indian city of Jaipur, and the Hero Tech Center GmbH in Germany.

On January 21, 2021, Hero MotoCorp rolled-out it's 100 Millionth two-wheeler in cumulative production since its inception. This achievement of the 100 Million cumulative production by Hero is one of the fastest global achievements of this landmark.

Shares of HERO MOTOCORP LTD. was last trading in BSE at Rs.3340.8 as compared to the previous close of Rs. 3472.85. The total number of shares traded during the day was 37417 in over 4147 trades.

The stock hit an intraday high of Rs. 3483.05 and intraday low of 3330. The net turnover during the day was Rs. 127926970.


Source: Equity Bulls

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