JAIPUR/CHITTOOR: Hero Motocorp will invest Rs 10,000 crore in research and development(R&D) in the next 5-7 years, Pawan Munjal, Chairman and Managing Director said on Tuesday.
Munjal also announced the new vision and mission of Hero Motocorp called ' Be the future of mobility'. Speaking at Hero World 2020 at the company's Centre for Inovation and Technology, Munjal said the Rs 10,000 crore investment in R&D will be to focus on alternate mobility situations, sustainable development and brand building across the globe. Hero Motocorp also announced the launch of three new products in the mainstream and premium segments.
The country’s largest two-wheeler company Hero MotoCorp laid the foundation stone for its eighth factory last year in Chittoor district in Andhra Pradesh.The new manufacturing facility is said to come up at an investment of ₹1,600 crore over a 600-acre site, will start commencement of operations this year. The company now has five plants in India and one each in Colombia and Bangladesh.The company is planning a total capacity of 1.8 million units over multiple phases.
Also Read: Budget 2020: AP, Telangana Get Raw Deal