Hero MotoCorp, country’s largest two-wheeler maker, is reportedly planning to invest Rs 1,600 crore to set up a new manufacturing plant in southern India. The company has signed a preliminary agreement with the Andhra Pradesh state government to set up the plant, which can produce upto 1.8 million vehicles annually. The plant will be spread across 600 acres.
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.
