 "Hero MotoCorp starts ops in Philippines, partners with Terrafirma Motors")
Hero MotoCorp on Thursday said it has commenced operations in the Philippines.
The strategic expansion marks a significant milestone in the company's efforts to strengthen its global presence, it said in a statement.
Terrafirma Motors Corporation (TMC), a part of the Columbian Group of Companies, one of the leading automotive groups in the Philippines, will serve as the exclusive assembler and distributor of the company's products and services, it added.
"The commencement of operations in the Philippines will bolster our overall global presence...Partnering with TMC, a distinguished entity within the Columbian Group, we are poised to swiftly establish and expand our presence in this vital market," Hero MotoCorp CEO Niranjan Gupta said.
An assembly unit and parts warehouse has been set up at Terrafirma Motors Corporation in Laguna, Philippines.
Spanning over 6,000 square metre, the facility boasts an annual capacity of over 150,000 units.
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This new assembly facility will produce Xpulse 200 4V, Hunk 160R 4V, and the Xoom 110 scooter.
"Combining Hero MotoCorp's global expertise with our local knowledge, we intend to make a significant impact in the market," TMC Chairman Bienvenido Sanvictores Santos stated.
Hero MotoCorp is currently present in 48 countries with tech centres in India and Germany, and manufacturing facilities in India, Colombia, and Bangladesh.