![]() Meanwhile back at home in India, headwinds would grow stronger for Hero. Hero’s goal is to produce and sell another 100 million vehicles in the coming decade ( Hero has sold 100 million two wheelers since its inception ). It has also reworked its mission statement, setting its sights on the ‘Future of Mobility’, not limiting itself to just two wheelers. It has forayed into international markets - now supplying its products in over 40 countries globally, eight of which are growing substantially. Over the last five years from 2016 to 2021, Hero has been busy breaking the shackles of its past. ![]() Honda would later back out of this agreement as Hero forayed into scooters. When two parties agreed to dissolve their partnership, an agreement was formed that Honda would continue to supply R&D and engine designs to Hero till 2014. To add to this competition, user preferences were migrating from motorcycles to automatic scooters, an area dominated by Honda Motors with their Activa offering.īreaking up with Honda was the logical choice - a tough one but the only way out if Hero wanted to become a global brand. ![]() Meanwhile at its home base, in India, competition was brewing from every nook and corner - Bajaj, TVS and Eicher Motors were foraying into premium models and wanted to gain market share from Hero. The initial agreement with Honda, also meant that Hero wasn’t allowed to scale up its export business beyond the boundaries of India and had limited presence in Bangladesh, Nepal and Sri Lanka - tiny markets at the time. Honda was never completely forthcoming with the R&D and used it as a leash to control the ambitions of Hero. ![]() By 2010, the same partnership was hindering growth for Hero. ![]()
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