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Country's largest two wheeler maker Hero MotoCorp plans to invest over Rs 5,000 crore across the globe, including manufacturing plants at Colombia and Bangladesh and new facilities at Gujarat and Andhra Pradesh.
The company, which today started production at its Rs 1,050 crore fourth manufacturing facility at Neemrana in Rajasthan, aims to surpass 100 million units in cumulative production by 2020.
"We have lined up total investment of over Rs 5,000 crore across the globe including manufacturing plants in Colombia and Bangladesh and the new plants coming up at Gujarat and Andhra Pradesh and the Hero Global Centre for Research & Design at Kukas in Rajasthan," Hero MotoCorp Vice Chairman and Managing Director Pawan Munjal told reporters here.
The Neemrana plant, with an annual capacity of 7,50,000 units per annum, will produce the company's range of motorcycles and scooters.
Going forward, the company has plans to develop high-end two wheelers from this facility, Munjal said.
With the coming up of the Neemrana plant, the production capacity of the company has risen to 7.65 million units per annum, well on course to achieve the stated objective of 12 million annual capacity by 2020.
Hero MotoCorp is also set to commence construction of its 5th and 6th plant in Gujarat and Andhra Pradesh respectively.
"When operational, all these plants, including the ones in Colombia and Bangladesh, will take the total installed capacity of the company to 12 million units of two wheelers," Munjal said.
Shares of Hero MotoCorp were trading at Rs 2,939 a piece on the BSE, up 2.15 per cent from its previous close.
