IBEF: October 14, 2021
Hero MotoCorp stated that it has tied up with Gilera Motors Argentina to strengthen and expand its operations in South America, in line with its aggressive global business strategy.
As part of the agreement, Gilera Motors will be the exclusive distributor for the sale and service of Hero MotoCorp motorcycles and scooters in Argentina.
It will also make fresh investments in operations to propel business growth, Hero MotoCorp said in a regulatory filing.
Hero MotoCorp Head Global Business Mr. Sanjay Bhan said “Argentina is a vital market for us and we are glad to have Gilera Motors Argentina as our partners here. With their long history and expertise in the motorcycle market, Gilera is the perfect partner for Hero MotoCorp in Argentina as we establish our technologically-advanced and globally benchmarked products and services here,”.
The company’s urgent focus is to develop a robust and widespread sales, service and spare parts network throughout the entire country, he added.
“We believe our new range of products to excite the customers and our market share to expand in the near future,” Mr. Bhan noted.
With >68 years of sustained operations, Gilera Motors Argentina is one of the leading automotive companies in Argentina and one of the most durable motorcycle manufacturers in Latin America.
“The partnership’s business processes are likely to have a multiplier effect on the local economy, by bringing in investment and creating new direct and indirect jobs,” Gilera Motors Argentina Director Mr. Ramiro Di Liscia added.
Gilera Motors Argentina Vice-president Mr. Omar Caruso said that with fresh investments, the company would form modern operations to support the roll-out of Hero MotoCorp's globally popular products, including latest motorcycles which comply with Euro 3 and Euro 4 standards.
Hero MotoCorp and Gilera Motors Argentina have an aggressive expansion plan which includes scaling up the sales and service network across the country, including a flagship store in Buenos Aires. The companies are also concentrating on guaranteeing the availability of spare parts for all customers.
Hero MotoCorp plans to launch a range of new motorcycles in Argentina, including the Xpulse 200 and Hunk 160R. Hero MotoCorp’s products are designed and developed at R&D centers in India and Germany and manufactured at manufacturing facilities in India, Colombia and Bangladesh.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.