Hero MotoCorp, the two-wheeler maker is likely to set up manufacturing and assembly plants in Africa, as it has identified growth markets in Africa. The company had earlier sent teams to the continent to find out potential markets for two-wheelers. It is also eying new markets such as Southeast Asia and Latin America, and expects to generate 10% of total revenue from exports in the next five years.
Recently, Hero MotoCorp has inked pact with world's largest privately-owned engine developer, AVL of Austria for developing in-house capabilities to make its own engines.
The company has reported highest-ever sales of 520,272 units for January 2012, 11.52% increase vis-a-vis the corresponding month last year. The company sold 466,524 units in January, 2011.
