Hero MotoCorp has entered the Bangladesh market with the launch of 11 of its products. This new development is a part of the company’s vision to have a global footprint, as many as 50 countries by 2020. Its operations in Bangladesh will be done through a joint venture with Nitol Niloy Group.
The two-wheelers launched in Bangladesh are the entry-level segment 100cc bikes- HF Dawn & HF Deluxe, Splendor+, Splendor Pro, Splendor iSmart, Passion Pro, the deluxe segment 125cc Super Splendor and Glamour and the premium segment 150cc Xtreme and Hunk, and the 100-cc scooter Pleasure. The Gurgaon-based manufacturer is also offering a five year warranty on all these models.
The company will also invest in setting up a manufacturing facility, which will be the first one outside India once it is operational. This plant is expected to be operational by 2015-2016 financial year. In this JV, Hero MotoCorp will hold the majority stake of 55 per cent, while the Nitol Niloy Group will hold the rest 45 per cent stake and will inject total funds of Rs 76.02 crore.
