Hero MotoCorp has announced plans to open its first foreign manufacturing factory in Brazil. The company aims to establish a new owned subsidiary, likely to be named ‘Hero MotoCorp do Brasil Ltd,’ that will manufacture and distribute two-wheelers, as well as parts and accessories.
This move marks a huge growth for Hero MotoCorp, which presently operates in over 47 nations. The decision to invest in Brazil follows the company’s aim of expanding its worldwide reach and entering new markets. The Brazilian subsidiary follows a similar move by Pune-based Bajaj Auto, which began production in Brazil in 2023 through its wholly-owned arm, Bajaj Do Brasil.
Niranjan Gupta, the CEO of Hero MotoCorp, expressed confidence about the industry’s growth, citing positive signs such as increasing government spending, expectations of normal monsoons and steady commodity prices. In the upcoming fiscal year, Gupta highlighted the company’s intentions to increase market share with new product introductions in the premium and 125cc segments.
Hero MotoCorp also plans on launching the Xoom 125cc and Xoom 160cc models in the first half of the fiscal year to expand the range of scooters in its portfolio. Along with this, the company is preparing to launch new products in the mid-and affordable segments of the electric vehicle (EV) market, where it hopes to make significant progress.
