Hero Cycles Ltd, the world’s largest manufacturer of bicycles today inaugurated its new All Aluminium Cycle plant at its existing facility in Ghaziabad, ushering in a new era for cycling industry in India. With this the company will indigenize its production of aluminium cycles in India by producing its own aluminium frames that make cycles lighter and more efficient.
The new plant brings with it a historic change in the company’s bicycle manufacturing capacity and the facility is equipped to produce one lakh bicycles annually. It will allow the company boost its indigenous production of high end bicycles and shift gears in its production technology.
Inaugurating the state-of-the-art, ultra modern facility, company Co-Chairman and Managing Director Pankaj Munjal said, “We feel elated to witness a major shift as far as our production technology is concerned. This new facility will be producing Aluminium bicycles, giving our products a new dimension and an edge over our competitors. We will be able to serve our customers more efficiently and effectively keeping our past impeccable record as a customer-friendly company, intact.”
So, far Hero Cycles used to import aluminium frames for production of its high end bicycles. The production will now be indegenized and cut costs. Hero Cycles has two high end brands in Urban Trail and Sprint.
“Hero Cycles Ltd will bring greater technological advancement in its production at every level in tune with our past record of being a market leader, not just in terms of sales but also in terms of innovation. Our plans to go global and make a foothold in Africa, parts of Europe and South-east Asia will get a major fillip, with the advent of this hi-tech unit and our renewed vision to serve our customers in the best way possible.”
Though, in the past few more players have manufactured Aluminium cycles, but not at this comprehensive level. Hero Motors Ltd will be the first Indian company to have started this major shift.
The company management which has set up an ambitious target of 15 % growth rate for this year, is working on a plethora of ideas like expansion, bringing higher technology and innovation in production, targeting high-end customers.
The company also plans to aggressively target the high-end segment in the future. With its all aluminium bike range ‘Octane’ , Hero Cycles plans to reach out to those who have a certain passion for adventure and are not ready to compromise with quality.
Hero Motors is also mulling localizing the production of key components like internal gear hubs, electric drive units and front forks that are currently being imported for manufacturing purposes. This would be done through strategic tie ups.
The company had recently laid the foundation of a huge production unit in Bihar’s Bihta Industrial and Logistics Park, near Patna with a mammoth one million production capacity.
It was a major indicator of the Hero Cycles Ltd’s aggressive expansion plans. The plant is expected to be operational in 2014. By the same year, another manufacturing plant is set to become operational in Mangli, Punjab.