Hero group plans to raise exports

Hero Honda, a partnership between Honda Group of Japan and Munjal Group of India, has come to an end and is to sign a final dissolvement agreement soon after four weeks. With this departion of two companies, the Hero Group discloses to increase exports with its bike and scooter segment. The company currently is selling its bikes in countries such as Nepal, Bhutan, Bangladesh and Myanmar and is planning to further spread itself in countries like Latin America, Africa, East Europe and Asia. The company has good number of popular products including Hero Honda Hunk, Hero Honda Glamour, Hero Honda Splendor, Hero Honda Passion Pro, etc.

After the split of Hero Honda, the first vendors' conference took place recently in which executives from key suppliers like those of Motherson Sumi, Sunbeam Auto, Minda Industries, Rico Auto, Falcon Tyres, Lumax Industries, Sandhar Technologies, Omax, Excide Batteries, Sriram Pistons and MRF Tyres participated. As per official statements of the Munjal group, it is said that the Hero group is to work hard so as to compete with its earlier partner Honda and to spread its market internationally.

The dissolvement took place with an agreement of Honda selling 26% stakes to India's Munjal Group. With this the Hero group is to acquire a total of 52% share of Hero Honda. The company with a view to maintain its prominent position in the market is planning to attain a target of 5.4 million units per year. Also it is said that the company is not to stop delivering its best selling models that are Hero Honda Passion and Hero Honda Splendor.