Hero MotoCorp is on course towards their target, ‘Leap 2020.’ Into its 30th year now, Hero celebrated the production milestone of 50 millionth two wheeler earlier this month. Now they aim to produce the next 50 million by 2020, which is about 8 years from now. This is remarkable considering that they took close to 30 years in producing the first 50 million.
Under Leap 2020, Hero plans to set footprints in 50 countries with 20 manufacturing facilities across the globe. For India, they have lined a range of new launches, starting from this financial year, which will see a total of 12 new products. Apart from India, Hero is also penetrating in newer markets. In the last one month, they have entered in new countries of Africa and South America. They have bought a 49.2% stake in Erik Buell Racing (EBR) for US$ 25 million.
“Our product launches that are planned around the festive season should contribute towards accelerating growth. On the new market front, after entering Central America and Africa, we are now geared-up for Latin American markets of Peru and Ecuador which should be in the month of August,” Mr. Munjal added.