After rolling out six motorcycles in Columbia, which include the 100 cc bikes -Splendor iSmart, Eco Deluxe, and Passion-Pro; the 125 cc Glamour; the 150 cc Hunk and the 225 cc Karizma ZMR, Hero MotoCorp announced that they’ll be setting up manufacturing plants in Brazil and Argentina soon, as a part of their aggressive expansion strategy in Central and Latin American markets.
For now, the upcoming factory in Colombia, construction of which commenced in July this year at an investment of USD 70 million, is poised to become the hub for supply to other markets for Hero Motocorp in Central and Latin America. The two wheeler major plans to enter the Brazilian market along with the Rio Olympics in 2016, while an Argentinian entry is also on the cards soon.
With the Columbia plant, which is set to roll from mid-2015, Hero MotoCorp will be the first Indian two-wheeler company to have a manufacturing plant in Latin America. The company is looking to establish manufacturing and assembly units in 50 countries with 20 plus assembly facilities globally worldwide by 2020 as part of its global expansion plans.
Source: ETAuto