Hero MotoCorp Ltd. is an Indian multinational motorcycle and scooter manufacturer headquartered in New Delhi, India. It is the largest two-wheeler manufacturer in the world and was originally founded as Hero Honda in a joint venture between Hero Cycles of India and Honda Motor Company of Japan in 1984. In 2010, the joint venture was dissolved, and Hero Honda was rebranded as Hero MotoCorp.
History
Hero MotoCorp's origins date back to 1984 when Hero Cycles entered into a joint venture with Honda Motor Company to create Hero Honda Motors Limited. The collaboration brought together Hero Cycles' extensive distribution network and Honda's advanced technology, resulting in rapid growth and market penetration. Hero Honda quickly became one of the most trusted and popular two-wheeler brands in India.
In December 2010, the Hero Group and Honda decided to end their 26-year partnership. The Hero Group bought out Honda's shares, and Hero Honda was rebranded as Hero MotoCorp Ltd. in July 2011. This marked the beginning of a new era for the company as it embarked on a journey of self-reliance and global expansion.
Products
Hero MotoCorp offers a wide range of motorcycles and scooters catering to various segments of the market:
Motorcycles:
- Commuter Bikes: Known for fuel efficiency and reliability, including models like Splendor, Passion, and HF Deluxe.
- Premium and Performance Bikes: Including models like Xtreme, Xpulse, and Karizma, targeting enthusiasts and young riders.
Scooters:
- Models like Pleasure+, Maestro Edge, and Destini are popular among urban commuters, offering convenience and style.
Market Position and Global Presence
Hero MotoCorp is the largest manufacturer of two-wheelers in the world in terms of unit volume sales in a calendar year. The company has a strong presence in India with a vast network of dealerships and service centers. It also exports its products to over 40 countries across Asia, Africa, and South and Central America.
To strengthen its global footprint, Hero MotoCorp has established manufacturing facilities in Colombia and Bangladesh, in addition to its plants in India. The company continues to explore new markets and expand its international reach.
Research and Development
Hero MotoCorp has heavily invested in research and development to innovate and enhance its product offerings. The company's Global Centre of Innovation and Technology (CIT) in Jaipur, India, is a state-of-the-art facility where engineers and designers work on new technologies, safety features, and sustainable solutions. Hero MotoCorp also has a research facility in Germany to leverage European expertise in automotive technology.
Corporate Social Responsibility
Hero MotoCorp is committed to corporate social responsibility (CSR) and undertakes various initiatives in education, healthcare, rural development, and environmental sustainability. The company focuses on projects that empower communities and contribute to the overall socio-economic development of the regions it operates in.
Recent Developments
In recent years, Hero MotoCorp has been focusing on expanding its product portfolio, particularly in the premium motorcycle segment and electric vehicle (EV) market. The company has entered into strategic partnerships with global technology leaders to accelerate its EV ambitions and aims to launch a range of electric two-wheelers.
Hero MotoCorp has also embraced digital transformation, leveraging technology to enhance customer experience, streamline operations, and adopt smart manufacturing practices.
Awards and Recognition
Hero MotoCorp has received numerous awards and accolades for its contributions to the automotive industry, product quality, innovation, and corporate governance. The company is widely recognized for its leadership in the two-wheeler market and its commitment to customer satisfaction.
Related Questions
1. What is Hero MotoCorp Ltd.?
Hero MotoCorp Ltd. is an Indian multinational motorcycle and scooter manufacturer headquartered in New Delhi, India. It is the largest two-wheeler manufacturer in the world by unit volume sales.
2. When was Hero MotoCorp founded?
Hero MotoCorp was originally founded as Hero Honda in 1984. It was rebranded as Hero MotoCorp Ltd. in 2011 after the dissolution of the joint venture with Honda Motor Company.
3. What was the original name of Hero MotoCorp?
The original name was Hero Honda Motors Limited.
4. Why did Hero Honda rebrand to Hero MotoCorp?
The rebranding occurred in 2011 after the Hero Group and Honda Motor Company ended their 26-year joint venture. The Hero Group bought out Honda's shares, leading to the new name.
5. What types of two-wheelers does Hero MotoCorp manufacture?
Hero MotoCorp manufactures a wide range of motorcycles and scooters, including commuter bikes like Splendor and Passion, premium bikes like Xtreme and Karizma, and scooters like Pleasure+, Maestro Edge, and Destini.
6. What are some popular Hero MotoCorp motorcycle models?
Some popular motorcycle models include Splendor, Passion, HF Deluxe, Xtreme, Xpulse, and Karizma.
7. What are some popular Hero MotoCorp scooter models?
Popular scooter models include Pleasure+, Maestro Edge, and Destini.
