Hero MotoCorp to enter European markets by end of next year

Country's largest two-wheeler maker Hero MotoCorp aims to enter European markets, including Italy, Spain and France, by end of next year, with the launch of its hybrid-scooter 'Leap' in these countries.
In the first phase of its foray into Europe, the company plans to launch its products in Italy, Spain and France followed by the UK and Germany in the next phase of expansion, Hero MotoCorp Ltd (HMCL) said in a statement.
To begin with, the company will launch its first serial-hybrid scooter 'Leap' in these markets, and subsequently bring more models including scooters and motorcycles, it added.
"Having already stamped our presence in Asia, Africa, Latin & Central America, we are now now looking at stepping into the European market by the end of 2015 with our hybrid scooter Leap making its debut here," Hero MotoCorp Ltd Vice Chairman, CEO and Managing Director Pawan Munjal said.

The company is looking for potential partners and is even open for merger and acquisition opportunities to be able to make quick inroads in these markets, he added.
"This is in line with our vision of making Hero a truly global brand in its range of quality products, scale of operations and geographical footprint," Munjal said.

The company announced its plans at an event organised by EICMA, which is the marketing body of Italy's National Association of Bicycles, Motorcycles and Accessories (ANCMA).
Hero MotoCorp had recently announced an investment of USD 800 million in building capacity across the globe in the next few years.

Expanding aggressively over the past three years, the company is already present in over 20 countries across Central & South America, East & West Africa and Asia.
By 2020, the company aims to be in over 50 countries with 20 plus assembly facilities globally. It is setting up two overseas manufacturing plants in Colombia and Bangladesh that are expected to go on stream in 2015-16.
In partnership with its local distributors, Hero MotoCorp has also set up assembly units in Kenya, Tanzania and Uganda.
The company has also announced enter into the US and Brazilian market by 2016. It is also in the process of building two more manufacturing plants in India.

When operational, all these plants - including the ones in Colombia and Bangladesh - will take the total installed capacity of the company to over 12 million units of two-wheelers.