Hero MotoCorp is planning to expand its manufacturing operations to Latin America and a market closer home. In this regard, the company will set up a full-fledged manufacturing plant each in Colombia and Bangladesh. The company will spend more than $150 million for the same, including on building its brand.
Moreover, the company has completed all formalities for setting up a manufacturing plant in Colombia and is in the process of incorporating a subsidiary in that country. In Bangladesh, it is likely considering a joint venture plant.
Hero MotoCorp is the World’s single largest two-wheeler motorcycle company. Honda Motor Company of Japan and the Hero Group entered a joint venture to setup Hero Honda Motors in 1984. Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company.
