We have always mentioned that the competition in the auto segment is indeed a tough one. Even though the Indian market seems to be a lucrative and profetiable one for the companies, it does not come without having to invest from your pocket. Many companies seem to have understood that. Hero Motocorp is one such company that is leaving no stone unturned to retain their top slot.
The largest two wheeler company in India has decided to make it big with their next investment venture. They are planning to build a Global Parts Center (GPC) in Rajasthan. For this the company will be using 35 acres of land that is located at Neemrana. The total investment cost is expected to be in the region of Rs. 160 crores.
The new plant will attract employment chances for nearly 400 people. The plant will be fully functional by the third quarter of the next financial year. There will be state-of the-art facilities in the new plant. There will be modern technology used as well as it will be an advanced and highly-mechanized plant. It will be one of its kind plants that will set the benchmarks for others to follow.
Mr. Pawan Munjal, who is the Managing Director and Chief Executive Officer of Hero MotoCorp Limited (HMCL), gave the details to the audience present there. There were nearly 125 top component suppliers of the company who were present on the occasion.
These component suppliers came from countries like China, Japan, Thailand and India and also from Europe. It was a three-day event that was held at royal National Congress Palace.
Hero MotoCorp looks on a mission as they have two plants – their fourth and fifth plants in waiting apart from the R & D center. All these things will help in building the production up to 9 million units. The company is aiming at sales of 10 million units by the year 2016.