Hero Motors eager to launch global superbikes
Hero Motors, once a part of Hero Honda, is intending to launch global superbikes in the Indian auto market. The company owned by Pankaj Munjal, nephew of group-chief Brijmohan Lall has decided to manufacturer high-end capacity bikes in the country. Earlier this month, Munjal family business has broke-up in the four-ways.
Hero Motor now has two group firms including Hero Cycles. Pankaj Munjal, managing director at Hero Motors, said that we are looking to become an incorporated solution provider for the global auto industry and has been involved in the auto component business with Hero Motors.
The agreement has offered freedom to the company to foray into the bike production space and form collaboration with global majors besides Japan based two-wheeler manufacturer, Honda Motors. "We plan to spend between Rs 500 to 700 crore as capital expenditure over the next three years, he said. Hero Cycles is the main revenue generator and it has funded all the major business of the group. On the other hand, other major players in India is also ready to launch its new premium bikes range including Yamaha SZ, Yamaha YZF R125 etc.