Hero Motors Company has unveiled its new hi-end export-oriented manufacturing plant at the Hero E Cycle Valley near Ludhiana in Punjab.
Hero Motors Company’s Chairman and Managing Director Pankaj Munjal said that the plant will augment the company’s annual production capacity to 10 million units, with a production of 4 million premium bicycles and E Cycles, majorly for global consumption. Along with the new plant, Hero E Cycle Valley will also house a series of international component suppliers to achieve complete localisation of manufacturing in India.
Commenting on the occasion, Road Transport and Highways Minister Nitin Gadkari said that Indian bicycle industry, which is the second largest in the world, should eye capturing the global market, which is currently dominated by China.
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