Hero plans bike below Rs 37,000

Company on Thursday unveiled 15 new products that will hit market during six months of current fiscal

Hero MotoCorp, the country’s largest two-wheeler manufacturer, on Thursday said it was developing a motorcycle to be priced lower than its entry-level HF Dawn model. HF Dawn is currently priced at Rs 37,000.

Pawan Munjal, managing director and chief executive officer, “We are always working to bring the cost down of our products. We are working on a bike that will be less expensive than our current entry level HF Dawn bike but not drastically cheaper.”

He declined to share further details of the bike but said once introduced successfully in India, the model would be considered for exports to similar geographies.

The company on Thursday unveiled 15 products that will hit the market during the six months of the current financial year. The products showcased include refreshed top-end Karizma R bike, ZMR, Splendor I-Smart and a new variant of Pleasure scooter.

“It has just been over two years since we commenced our solo journey, and in such a short span of time, we have made significant upgrade of our existing line-up, incorporating next-generation technology and features. This is also a reiteration of our capability to develop indigenous technologies,” Munjal said.

Last month, Hero MotoCorp had announced that it would introduce over 15 new offerings by March next year to consolidate the leadership position. A majority of the new offerings will hit the market in the ongoing October-December quarter as the company looks to cash in on the festive season in India.

The new products include a refreshed version of its high-end bike Karizma. This is Hero's first commercial production model in which US-based partner Erik Buell Racing (EBR) has played a major development role.

Apart from refresh of existing models, the others will have innovations developed by the company's R&D team, for which patents have been sought.

Munjal said that when Hero MotoCorp announced its new identity in 2011, 50 new products were promised in three years. "Today we have 15, so there are 35 more to come in the coming years," he added. Meanwhile, the company’s first bike without the technology of erstwhile partner Honda would hit the market by 2014.