Thew two-wheeler major has partnered with Gilera Motors Argentina to expand its operations in Argentina, one of the key markets in South America.
Gilera Motors Argentina is one of the leading automotive companies in Argentina and one of the most enduring motorcycle manufacturers in Latin America.As part of the deal, Gilera Motors will be the exclusive distributor for the sale and service of Hero MotoCorp motorcycles and scooters in Argentina. It will also make new investments in operations to drive business growth.
Hero MotoCorp and Gilera Motors Argentina have an aggressive expansion plan that includes scaling up the sales and service network across the country, including a flagship store in Buenos Aires.
Hero MotoCorp will launch a range of new motorcycles in the country including the Xpulse 200 and Hunk 160R. The Xpulse 200 is an on/off-road motorcycle that has already been highly successful around the world and especially in the Latin American markets.
The two-wheeler major reported a 343.90% jump in consolidated net profit to Rs 256.46 crore on 85.3% rise in net sales to Rs 5,502.80 crore in Q1 FY22 over Q1 FY21.
Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters.
Shares of Hero MotoCorp rose 0.49% to Rs 2929.80. The stock hit a high of Rs 2945 and a low of Rs 2909 so far.
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