Hero Motocorp to invest heavy in AP!

Hero Motocorp, one of the leading two wheeler manufacturers in the World has decided to raise its global output. To make that happen the plans to invest Rs 5,000 crore in manufacturing plants, including in Colombia and Bangladesh, as well as new facilities at Gujarat and Andhra Pradesh. The company has set a target of increasing its annual production capacity to 12 million by 2020. The company is all set to enter in to Eurpean market by the end of next year and plans to enter US market by 2016.

The plant coming up at Andhra Pradesh will have an annual capacity of 1.8-2 million units and the company is planning to invest 1600 Crore for the plant. The company despite having good reputation could not attain the target of 50 percent market share in India due to less manufacturing capacity and the company hopes that the new plants at Gujarat and Andhra Pradesh will fill up the gap. The six plants in India (including Gujarat and AP ones) along with the ones in Colombia and Bangladesh, will take the total installed capacity of the company to 12 million units of two wheelers.