Hero MotoCorp is going aggressive with their international business plans. It recently opened manufacturing facility in Bangladesh, which is the first facility outside India and it doesn’t want to just stop there. The Gurgaon based manufacturer will enter the Brazilian market in 2016, during the Summer Olympics.
The Brazilian market is the fastest growing in the South American region but is also quite different as the country uses ethanol blended petrol. Hence, the company will be developing engines specifically for the Brazil market with the help of AVL. The current engine line-up is not tuned for such fuel and will need modifications and maybe a complete re-work.
The company will begin work in its new manufacturing facility Columbia in the next two months. This plant is expected to be operational in one year. The Brazilian market may get its products from India or may also use their Columbian facility but the top honcho claimed that the Brazil market is very big and there is a need of a manufacturing plant in the country.
"We are looking to enter Brazilian market around the Olympics in 2016. We are developing some engines specifically for this market. It is an attractive market for us," said Pawan Munjal, managing director & CEO, Hero MotoCorp.
Looks like, the company is on track to enter 50 new markets by 2020 with a target of 20 manufacturing facilities across the world. Hero MotoCorp wants to generate Rs 60,000 crore per annum through this big plan.
