India's largest motorbike maker, Hero MotoCorp Ltd, extended a shutdown at its manufacturing facilities across India till May 16, a day after Maruti Suzuki India Ltd announced a similar move
The m-cap gap is widest despite Hero's better sales and volumes
The company last month had tied up with Taiwanese electric two-wheeler maker Gogoro to accelerate the shift to sustainable electric mobility
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'While a late recovery towards the second half of FY21 saw the company gain strong volumes, the broader market continues to suffer in view of the recent Covid surge,' says Pawan Munjal
Company extends factory closure to May 10; expects normalcy to return by second quarter
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Nomura has one of the most conservative estimates with standalone net profit seen at Rs 794 crore, up around 28 per cent YoY
A week-long shutdown by Hero MotoCorp gives Bajaj Auto a marginal lead over its arch rival
The country's top two-wheeler maker Hero MotoCorp on Saturday said it has sold 3,72,285 units last month, down by 35 per cent from 5,76,957 units dispatched in March this year. The company said sales in April were subdued due to the temporary closure of plant operations and the retail outlets across several key territories in India on account of the impact of the second wave of COVID-19. The sales numbers of April 2021 were not comparable with the corresponding month of the previous year (April 2020), since no vehicles were manufactured and dispatched to dealers due to the nationwide lockdown after the outbreak of COVID-19, it added. The two-wheeler major further noted that in keeping with its commitment to the safety and welfare of its people and to break the chain of the spread of coronavirus, it has decided to extend the shutdown at its manufacturing facilities across India, its Global Parts Center (GPC) in Neemrana and the R&D facility the Centre of Innovation and Technology .
The bikes are tagged between Rs 10.11 lakh and Rs 34.99 lakh in India (ex-showroom).
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The country's largest two-wheeler maker Hero MotoCorp on Wednesday said it has partnered with Taiwan-based Gogoro Inc to collaborate in the field of electric mobility. As per the partnership, the companies will establish a battery swapping joint venture to bring Gogoro's industry leading battery swapping platform to India and will collaborate on electric vehicle development to bring Hero-branded, powered by Gogoro network vehicles to market. "Today marks another major milestone in our journey, as we bring Hero's leadership in two-wheelers, our global scale and innovation powerhouse, with the leadership of Gogoro in swapping business model, as they have demonstrated over the years in Taiwan and rest of the world," Hero MotoCorp Chairman and CEO Pawan Munjal said in a statement. This partnership will further extend the work, which the company is doing at its R&D hubs at the Centre of Innovation and Technology (CIT) in Jaipur and Tech Centre in Germany, he added. The vision and ...
Firm says shutdown is due to massive and unrestrained spread of Covid-19 across the country
Two-wheeler market leader Hero MotoCorp on Tuesday said it will work towards ecological restoration and conservation of the Aravali Biodiversity Park at Gurugram, in Haryana for the next 10 years
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The country's largest two wheeler maker Hero MotoCorp on Thursday said it will cover the Covid-19 vaccination cost of its workforce, including permanent and contractual employees
Cumulative sales in March at the top five two-wheeler makers soared 75% to 1,421,600 units during the month against 808,692 units a year ago
While overall two-wheelers sales are down, what is hurting Hero MotoCorp is that the slowdown is impacting the entry and executive segments the most