Nearly a-year-and-a-half after parting ways with long-time partner Honda Motor of Japan, homegrown single largest two-wheeler manufacturer Hero MotoCorp, is all set for its solo journey as its plans to introduce its first independently developed product in the Indian market by 2013-14.
Besides, the company will also be introducing its bikes in Africa and Latin America in the fourth quarter of this fiscal by customizing the existing ones for these markets. Further, the company is also scouting for markets beyond Africa and Latin America in order to increase its sales volume globally as part of its plans to sell 10 million units in the next five years with exports summing to be about 10 per cent of its total sales.
As per to the licensing agreement signed with Honda Motor Corporation (HMC), Hero MotoCorp will replace the new products (such as Maestro, Ignitor and Impulse) it sources between now and 2014 with its independently developed model. The new products, which will include motorcycles and scooters, are expected to be across the price spectrum of the two-wheeler industry.
