Hero MotoCorp to invest ₹10,000 crore in next-gen mobility solutions

Hero MotoCorp said on Tuesday it will invest ₹10,000 crore over the next five to seven years to create next generation of mobility solutions that are relevant to customers across the world.

"Sustainability and responsible growth remain at the core of Hero MotoCorp's technology, innovation and global expansion plans," said Chairman Pawan Munjal.

"As we enter a new decade, we are aiming at ushering in the next wave of mass mobility that is accessible, convenient and environment-friendly which is aligned with our rejuvenated vision of Be The Future of Mobility," he said.

Munjal said Hero MotoCorp is an ever-evolving, youth-centric, innovation-led brand that has remained a market leader for nearly two decades now. Yet it is not resting on its laurels."Over the next five to seven years, we are aiming to create the next generation of mobility solutions that are relevant to customers across the world," he said.

"To this end, we have earmarked an investment of ₹10,000 crore along with our ecosystem which will be utilised towards research and development of alternative mobility solutions, modern, state-of-the-art, sustainable manufacturing facilities, network expansion and brand building across the globe."

Munjal's assertions came at the Hero World 2020, a three-day event attended by global media, investors, dealers from India, supply chain partners and global distributors at the company's Centre of Innovation and Technology here.

The event showcased the entire global product portfolio of Hero MotoCorp which is the world's largest manufacturer of motorcycles and scooters.