Hero MotoCorp partners with Gilera Motors to expand operations in Argentina

Hero MotoCorp will launch a range of new motorcycles in Argentina including the Xpulse 200 and Hunk 160R.

The world’s largest manufacturer of motorcycles and scooters, Hero MotoCorp has partnered with Gilera Motors Argentina to expand and reinvigorate their operations in Argentina, which is one of the key markets in South America. As per the agreement, Gilera Motors will be the exclusive distributor for the sale and service of Hero MotoCorp motorcycles and scooters in the country. It will also make new investments in operations to drive business growth.

With more than 68 years of sustained operations, Gilera Motors Argentina is one of the leading automotive companies in Argentina and one of the most enduring motorcycle manufacturers in Latin America.

The company in a filing with the exchange said, “Hero MotoCorp and Gilera Motors Argentina have an aggressive expansion plan that includes scaling up the sales and service network across the country, including a flagship store in Buenos Aires where customers can experience Hero MotoCorp’s world-class products and services. The companies are focused on ensuring the availability of spare parts for all customers.”

Hero MotoCorp will launch a range of new motorcycles in Argentina including the Xpulse 200 and Hunk 160R. The Xpulse 200, which is an on/off-road motorcycle has already been successful globally and particularly in the Latin American markets.

To quote Sanjay Bhan, Head of Global Business, Hero MotoCorp, from the filing with the exchange, “Our immediate focus is to develop a robust and widespread sales, service and spare parts network across the entire country. We expect our new range of products to excite the customers and our market share to grow in the near future.”

Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters, in terms of unit volumes sold by a single company in a year. The company currently sells their products in more than 40 countries across Asia, Africa, Middle East and Latin America. It has 8 state-of-the-art manufacturing facilities, including six in India, and one each in Colombia and Bangladesh. Their products are designed and developed at its world-class R&D centres in India and Germany.

Hero MotoCorp’s scrip is trading flat at Rs 2,914.40 per share on the bourses during early market hours on October 13, 2021 (Wednesday).