Hero MotoCorp is growing everyday, not only in India but also in the global scenario. The company has identified growth markets in Africa to set up manufacturing and assembly plants there. The company which was formerly known as Hero Honda had not concentrated much on African markets owing to its pact with the then JV partner Honda.
"We have identified some of the countries which have potential to be high growth markets. We will probably set up assembly plants in some. In some, there may be manufacturing and in others it will probably be exports." said Mr.Sunil Kant Munjal, chairman, Hero Corporate Service.
"This will depend on each market, its legislation, and what the economics of business requires. We have seen some truly outstanding opportunities there. We believe there is a unique opportunity for us to go and do business in two-wheeler segment there. Many of the African countries have shown rapid growth in the two-wheeler segment." he added.
The company is currently eying new markets such as Africa, Southeast Asia and Latin America, and expects to generate 10 percent of total revenue from exports in the next five years. The company production capacity will reach more than 6.5 million units per annum from its three plants, up from 6.15 million in April 2010.
Rate this News :