Hero MotoCorp to invest Rs 10K cr in R&D, new units

Jaipur, February 18

The country’s largest two-wheeler maker Hero MotoCorp today announced investment of Rs 10,000 crore over the next 5-7 years on various activities, including research and development and setting up new manufacturing facilities.

Announcing that the company’s Vision 2020 will “be the future of mobility”, Hero MotoCorp chairman and managing director Pawan Munjal said the company also aims to be carbon neutral by 2030.

“Today even as we continue to rationalise our costs, we will not leave any stone unturned to realise our Vision of ‘The Future of Mobility’.

“Over the next five to seven years, we would be investing around Rs 10,000 crore in research and development of alternative mobility solutions, modern, state-of-the-art, sustainable manufacturing facilities, network expansion, and brand building across the globe,” Munjal said.

He said ever since the company started its solo journey in 2011 after parting ways with Japan’s Honda, Hero MotoCorp has invested $1 billion on new plants, machineries and product development while another $600 million was pumped into R&D.

Munjal said, later this year the company expects to cross 100 million cumulative sales since the company started its journey way back in 1985.

Hero MotoCorp on Tuesday launched BS-VI compliant versions of its Glamour motorcycle model priced at Rs 68,900 and Rs 72,000 and Passion Pro bike priced at Rs 64,990 and Rs 67,190.

The company also unveiled premium bike Xtreme 160R which will hit the markets in March.

Sharing the company’s sustainability targets, he said Hero MotoCorp aims to be carbon neutral by 2030, waste neutral by 2025 and 500% water positive by the same year.

Munjal also stressed on the company’s ambition to become a force to reckon with in global landscape and said the company is now exporting to over 40 countries. — PTI