Decision on fourth plant within this year: Hero Honda

The country's largest two-wheeler maker Hero Honda today said it will take a decision on setting up its fourth plant within this year and is currently scouting for a location across India.

"We have started a feasibility study for the new plant and we are looking across the country for a location...A decision will be taken within this year...We will be going for a new location and for a new plant," Hero Honda Motors Managing Director and CEO Pawan Munjal told reporters on the sidelines of Honda Yes Awards ceremony here.

He said, the company has been approached by various State governments with a land offer but Hero Honda is yet to take a final decision.

"There have been approaches from lot of states but it is too early to say anything at all," he said.

The company currently has three plants across the country with a total annual capacity of 45 lakh units.

Munjal said, a final decision on the investment for the new plant and its capacity will be taken only after the feasibility study.

Last month, Munjal had said that an additional plant would be required to meet the increasing demand of the market.

The company will produce over 45 lakh units in the ongoing fiscal, about 5 lakh units more than its earlier estimates.