India's top two-wheeler manufacturer Hero MotorCorp has crossed 100-million mark in producing automobile units, company's Chairman Pawan Munjal said on Thursday.
The company is now planning to launch 50 new products and upgrades over the next 5 years while working simultaneously to strengthen its portfolio with its new partner Harley-Davidson, Pawan Munjal told Times of India.
The company will focus on premium bikes and scooters and will look to expand globally in Latin and Central America, Africa and Asia. It has also started shifting its focus to the ever-growing electric automobile market, where it is not only following an independent strategy but also through its investments in start-ups such as Ather.
Munjal discussed the company’s plans for the year and while enquired about his layout for the year, he said that things are looking “optimistic”. He also said that the upcoming budget will focus on rural and agricultural sectors which will benefit the company.
“I am optimistic about 2021. As we look at it, motorcycle and scooter demand will only recover from here, and definitely improve. We are optimistic that the government and the upcoming budget will focus on the rural and agri sectors, which will benefit us,” Pawan Munjal was quoted as saying by TOI.
Speaking about the partnership with Harley, Munjal said that the alliance with the iconic American bike major will help it strengthen its premium play. “The partnership is aimed in that (premium) direction… We will design new products together, Hero will manufacture them, and then put the Harley badge.”
Hero has been strengthening its premium portfolio with products such as XPulse200, Xtreme160R and Xtreme200S as it competes with rivals such as Bajaj and Yamaha in the category.
