Hero Motocorp at a glance
- Incorporated as a joint venture of Honda and Hero Cycles in 1984
- In 2010, Hero and Honda parted ways
- In 2021, 10 crore cumulative production
Hero in Bangladesh
- In 2014 partnered with Nitol Niloy
- Manufactured 3.3 lakh units already
- Received Green factory award
Hero MotoCorp, the world's largest two-wheeler manufacturing company, has surpassed the milestone of 100 million (10 crore) units in cumulative production.
The market leader of India – the world's biggest market and also the manufacturing hub for two-wheelers – celebrated the rollout of its 100 millionth motorcycle, an Xtreme 160R, at its Haridwar plant in Northern India on Thursday.
A statement by the company said Hero MotoCorp's achievement of this landmark is one of the fastest global achievements of the 10 crore cumulative production mark, with the last five crore units coming in a span of just seven years.
To mark the occasion, Dr Pawan Munjal unveiled six special celebration edition models at the company's manufacturing facility at Gurugram in Delhi.
Addressing a global audience including customers, dealers, distributors, investors, suppliers, employees, and the media, Dr Munjal also outlined Hero MotoCorp's plans and vision for the next five years.
He said during this timeframe, the company will aim to further consolidate its leadership position, expand its global footprint, launch exciting and relevant products and also work on new innovative product concepts.
As part of the next five-year plan, Hero MotoCorp will introduce over 10 products – including variants, refreshes, and upgrades – every year.
Hero MotoCorp also has a steep growth target for its markets outside India. It will continue to grow its operations in these markets and also enter key markets in new geographies.
Hero MotoCorp will continue to reduce its carbon footprint through its green facilities and fuel-efficient products. The company will also continue to work towards the propagation of new mobility solutions both through its internal programmes and by supporting the larger external ecosystem, according to the statement.
In 1983, Japanese Honda Motor Company and India's bicycle giant Hero entered into their joint venture to explore the potentials of India's populated market waiting for the gradual economic opening up then.
Hero Honda Motors Ltd took a decade to manufacture its first 10 lakh units and launched its top-selling model Splendor in 1994.
The long-lasting, fuel-efficient, and low maintenance 100cc commuter motorcycles turned out to be the most rolled out model in every single year since the 2000s and that made the company the largest two-wheeler seller as a single company.
Honda, through its dozens of subsidiaries across the world, manufactures around 1.9 crore units of two-wheelers a year while Hero MotoCorp as a single company manufactures around half of what Honda does globally.
However, Hero and Honda parted their ways in India in 2010, leaving the joint venture company to Hero and Honda growing with its own sole venture Honda Motorcycle and Scooter India Pvt Ltd.
Now Hero is the top motorcycle seller while Honda is ruling the scooter market of India.
On Thursday, the New Delhi headquartered Hero MotoCorp also celebrated its 20th consecutive year of being the largest single company to manufacture motorcycles and scooters.
Hero MotoCorp currently sells its products in more than 40 countries across Asia, Africa, Middle East, and South and Central America. It has eight state-of-the-art manufacturing facilities, including six in India, and one each in Colombia and Bangladesh.
The company has also built two state-of-the-art research and development facilities – the Centre of Innovation and Technology (CIT) in the northern Indian state of Rajasthan, and Hero Tech Centre Germany GmBH.
Hero in Bangladesh
State-owned motorcycle assembler Atlas Bangladesh Ltd had been assembling and distributing Hero Honda motorcycles in Bangladesh until Hero and Honda's divorce in India.
However, in 2014 Hero partnered with local Nitol Niloy Group and Niloy Motors Ltd became the sole distributor of Hero bikes in Bangladesh.
The two houses entered into a joint venture in Bangladesh and HMCL Niloy began motorcycle manufacturing at its Jashore plant in 2017.
With more than Tk500 crore in investments, the plant is believed to be the most sophisticated motorcycle facility of the country with robots for welding frames and zero disposal of harmful wastes which helped the factory achieve the green award.
The company is also sourcing alloy wheels, seats and some other components from local vendors and working to develop more local vendors.
HMCL Niloy already manufactured 3.3 lakh motorcycle units at its Jashore plant, according to company officials.