Mr. Pawan Munjal, Managing Director & Chief Executive Officer, Hero MotoCorp, inaugurated the flagship state-of-the-art Hero–Asya dealership at Camlica in Istanbul today. Mr. Munjal also launched brand ‘Hero’ in the presence of Mr. Uysal Soysal, Chairman of the Board of Directors of Soysal Group, and introduced the 125cc motorcycle – ‘Glamour’, the 150cc bike Thriller and the 100cc scooter Pleasure – all the three products compatible with Euro III emission norms. These three models are also being showcased at the Hero-Asya stall at the ongoing Auto Show here.
Mr. Munjal said, “The commencement of our operations in Turkey is a significant milestone in our overall global expansion plans. We are aware that Turkey has a strong bikes market where customers value quality products, and our vision is to provide convenient, fuel-efficient mobility to every two-wheeler customer across Turkey. It also gives me immense pleasure to announce the choice of Soysal Group as our partner in this market. I am sure with their rich experience in this region and knowledge of the local customer, we will be able to achieve our immediate short-term goal of 5% market share in Turkey. Going forward, we will also be bringing more bikes from our wide-ranging portfolio.
“We are targeting to be present in as many as 50 global markets by the year 2020, with over a million unit sales coming from overseas sales. Therefore, our launch in Turkey is a significant move as part of our long-term strategy,” he added.
Robust Globalization Strategy
Under the leadership of Mr. Munjal, Hero MotoCorp has fast augmented its global presence. As of today, Hero products sell in Peru in Latin America; Guatemala, Honduras and El Salvador in Central America; Kenya in East Africa; Burkina Faso and Ivory Coast in West Africa; and Sri Lanka and Nepal in Asia. The company has already started despatching vehicles to other markets such as Tanzania and Uganda. Hero MotoCorp also plans to set-up local assemblies in Tanzania and Uganda in the near future.
In-house Research & Development Capabilities
Earlier this month, Hero MotoCorp demonstrated its technological excellence and innovative approach by showcasing over a dozen products on new platforms, including path-breaking concept models, at the Auto Expo – the Motor Show in Delhi. These included bikes ranging from 100cc to 620cc, a hybrid scooter and electric motorcycle, and significantly – a 150cc diesel-run two-wheeler.
Within just two years of launching the new brand identity, Hero has forged four strategic alliances – with the US-based Erik Buell Racing (EBR); Austria-based AVL, the Bologna, Italy-based two-wheeler design firm “Engines Engineering”, and most recently, with the Milan-based Magneti Marelli to develop and manufacture new generation fuel injection systems. Hero MotoCorp also made its first-ever equity investment in an overseas firm by announcing the purchase of 49.2 per cent equity at EBR for US$ 25 million.
Hero MotoCorp, with a turnover of over US$4-billion, is the world’s largest two-wheeler manufacturer in terms of unit volumes produced by a single company in a calendar year. It sold over 6.1 million two-wheelers in calendar year 2013.