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Hero MotoCorp said on Wednesday it has entered into a distribution agreement with Grupo Salinas founded by Mexican entrepreneur Ricardo Salinas.
The two companies have come together to form one of the largest distribution networks globally to sell competitive, high-quality products in the large Mexican market. In the first phase of operations, Hero MotoCorp will launch nine products including motorcycles -- for work (100cc), street (125cc), premium (150cc, 160cc) and on-off segments -- and scooters. All these products are being designed and developed at Hero's R&D hubs in India and Germany. "With global expertise and technology prowess of Hero and local market knowledge of Grupo Salinas, we are aiming for rapid expansion of the Hero brand here over the next three years," said Chairman and CEO Pawan Munjal. Hero MotoCorp now has extensive presence across Asia, Africa, South and Central America, and the Middle East. In Latin America, the company is now present in more than 10 countries. Hero MotoCorp has eight manufacturing facilities including six in India and one each in Bangladesh and Colombia. It also has a global R&D presence with technology centres in India, the Centre of Innovation and Technology in Jaipur, and the Hero Tech Centre GmbH in Germany. On January 21, Hero MotoCorp rolled-out its 100 millionth two-wheeler in cumulative production since its inception. (ANI)
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