Hero MotoCorp has announced its plan to invest ₹ 10,000 crore over the next 5 to 7 years towards creating next-generation products for various markets across the globe, including India. The company announced its expansion plans and aim to introduce next-generation mobility solutions at the Hero World 2020, where the company also introduced three new models. Hero MotoCorp also affirmed that it's technology, innovation and global expansion plans are driven by sustainability and responsible growth and said it aims to become carbon neutral by 2030.
Announcing the company's expansion plans, Pawan Munjal, Chairman, Hero MotoCorp said, "Over the next 5-7 years, we are aiming to create the next generation of mobility solutions that are relevant to customers across the world. To this end, we have earmarked an investment of ₹ 10,000 Crore along with our ecosystem, which will be utilized towards research and development of alternative mobility solutions, modern, state-of-the-art, sustainable manufacturing facilities, network expansion, and brand building across the globe."
For now, the company has introduced three new BS6 motorcycles in India - 2020 Passion Pro, 2020 Glamour, and the all-new Xtreme 160R. While the former two have been launched and the company has also started dispatches, the Hero Xtreme 160R will be launched in March 2020. With the new Xtreme 160R, the company has also marked its entry into the 160 cc naked motorcycle segment.