Hero MotoCorp, India’s largest two-wheeler maker, has lined up an investment of Rs 10,000 crore over five-seven years towards new products, alternate mobility solutions and setting up of new manufacturing facilities.
The Delhi-based company’s announcements come at a time when the two-wheeler demand has been at its recent worst with sales falling nearly 16 percent during the April-January period. Hero sales fell in line with the industry to 5.43 million units, a fall of 16 percent during the April-January period.
Pawan Munjal, Chairman and Managing Director - Hero Motocorp, said, “We have invested over $600 million in our R&D and similarly we have invested over $1 billion in setting up new manufacturing facilities and new products. Over the next 5-7 years we plan to invest in the region of Rs 10,000 crore in R&D, for alternate mobility solutions, manufacturing facilities, network expansion and brand building across the globe”.
Hero is also challenged by growing influence of Bajaj Auto and TVS Motor Company who are not only stepping up on their partnerships but have put in shape a clear product road map of electric products in the coming years. Hero is yet have any clear roadmap for electric products even as another family-led Hero entity Hero Electric has steadfastly become the biggest manufacturer of electric two-wheelers.
“Emerging mobility business unit is working on a range of mobility solutions for the future in innovative formats. Hero will cross the milestone of 100 million units in cumulative sales since starting sales in 1985. We believe it is the right time to shift gears to not just change with the time but to stay ahead of the curve. We have to revitalize our vision and mission in a manner that makes us completely future ready”, added Munjal.
Hero Motocorp showcased three products with Bharat Stage VI engines today. The BS-VI version of Glamour 125 was launched at a price of Rs 68,900 (self-drum alloy variant) and Rs 72,400 (self-disc, alloy variant), both prices ex-showroom, Delhi. The bike, which will be available in four colour options, will have 19 percent more power at 10.73 bhp and torque of 10.6 Nm.
The Passion Pro 110 also gets BS-VI upgrade along with more ground clearance, 9 percent more power at 9.02 bhp and 22 percent more torque at 9.79 Nm over passion 100cc. The bike is priced at Rs 64,990 (self-drum alloy variant) and Rs 67,190 (self-disc, alloy variant).
The last of the unveilings was the Xtreme 160R. This bike will also be available in two variants and three colors but will be launched in the end of March. The Xtreme 160R comes with 160cc air-cooled BS-VI engine that delivers 15bhp and a 0-60 km per hour acceleration in 4.7 seconds.
The company also launched the XPulse 200 rally kit. Available as a complete kit for aspiring racers at Rs 38,000, the rally kit will be retailed at selected dealership from March onward.
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