Hero MotoCorp is on a mission to conquer the whole of South America. It was only recently that they laid the foundation stone for the manufacturing plant that they had set up in Colombia and now they are at it again, only this time it’s Argentina.
Several top dignitaries including Mr. Pawan Munjal, Managing Director and Vice Chairman from the Indian two wheeler company held a meeting with the Argentinean government officials to discuss their plans. Heavy tax duties are imposed on imported cars and bikes in Argentina, hence a local manufacturing and assembly plant will help Hero prices their products competitively, thereby creating a presence for themselves within the country. The plant will not only be used to supply two-wheelers for the Argentinian market, but will also act as an export unit. However, Hero MotoCorp will be teaming up with a local partner to establish the manufacturing plant.
Hero MotoCorp is currently the number one two-wheeler maker in India, and it is only logical for them to venture into foreign countries and expand their trade, having secured their position in the Indian market. A plant in Brazil is set to follow suit soon, getting them closer to their goal of establishing a base in over 50 countries by the year 2020.