Hero MotoCorp on Monday said it will invest ₹5,000 crore in plant expansions over the next two-three years.
“We have lined up a total investment of over ₹5,000 crore across the globe, including the manufacturing plants in Columbia and Bangladesh, the new plants coming up at Gujarat (Halol) and Andhra Pradesh and the Hero Global Centre for research and design at Kukas in Rajasthan,” Pawan Munjal, Vice-Chairman, Chief Executive Officer and Managing Director, Hero MotoCorp, the country’s largest two-wheeler manufacturer, told reporters here.
On Monday, the company inaugurated its new plant at Neemrana, Rajasthan, which will have a capacity of 7.50 lakh units a year.
Global parts centre Hero has invested ₹1,050 crore to set up the factory, which also has a global parts centre.
Going forward, the company plans to develop high-end two-wheelers from this facility.
The combined installed production capacity of the company has now risen up to 7.65 million from 6.9 million earlier.
The company said through the new global parts centre, it is also aiming to double its annual turnover to over ₹3,000 crore in the next two-three years.
The centre is designed to have minimal manual intervention while significantly enhancing productivity, it added.
Garden factory The new facilities (manufacturing plant and the centre) at Neemrana are one of a kind ‘garden factory’, based on the core principle of sustainable development with greenery within the factories and use of solar power and rain harvesting, the company said, adding that photovoltaic panels will provide around 1.5 megawatts of electricity.
“We are investing more in green technologies and our future facilities will also be on similar lines, using the green concept,” Munjal said.