Iran, Turkey on Hero MotoCorp radar to launch new scooters, bikes

India's largest two-wheeler maker Hero MotoCorp plans to launch new scooters and bikes in Iran and Turkey, and use Bangladesh plant to scale up presence in South Asia as part of its global expansion strategy.

The company, which sells products in over 37 countries across the globe, however, said the highly price sensitive African market posed a unique challenge in selling innovative and feature-rich products.

In his message to shareholders in the company's Annual Report for 2017-18, Hero MotoCorp Chairman, MD and CEO Pawan Munjal said the firm is gearing up to "ride the wave of ever evolving global political dynamics, as it continues to expand its footprint".

"Amid all the global political and economic upheavals, we have chosen to stay the course and kept our commitment to all our global markets," he said.

Munjal further said: "Our sustained brand building across markets during the economic downturn has now begun to yield results, with double-digit growth in our global business in 2017-18."
Elaborating its overseas expansion plans, Hero MotoCorp said:"In the Middle East, the company plans to launch new products in scooters and entry and premium bike segments in the regional markets, including Turkey and Iran."
As it expands in international markets, the company said it "will use its manufacturing plant in Bangladesh, coupled with flexible manufacturing processes to improve its share in the 100cc entry and 125cc segments in Bangladesh, Sri Lanka and Nepal."