Today News Online Service
Chandigarh, March 16
Hero Motors Company (HMC) today announced the setting up of its international headquarters Hero International (HIT) in London to strengthen its global presence. HIT is aimed at bringing HMC’s European businesses under one umbrella and giving its electric bike business a major boost globally.
The move will unify the HMC-owned European businesses, including HNF GmbH in Germany and Insync Bikes in the UK, by bringing them under one umbrella. The company aims to take up its European revenue up to €300 million by 2021.
HMC’s Global R&D is currently centralised in Berlin with HNF which is a premium engineering unit.
Together, the entities give Hero Motors Company a significant presence in Europe and are central to the organisation’s major overseas push.
“The dedicated headquarters in Europe will enable us devise an effective long-term growth strategy backed up by manufacturing support from India where we are scaling up production capacity significantly through the International Cycle Valley project,” said Pankaj M Munjal, chairman and managing director, HMC.