Hero MotoCorp, the world's largest two-wheeler maker by volumes, has announced its entry into the South-East Asian market. The company has partnered with Terrafirma Motors Corporation (TMC) and will make its debut in the Philippines. TMC is part of the Columbian Group of Companies and will be the exclusive assembler and distributor of Hero motorcycles in the Philippines. The two-wheeler giant has also announced plans to set up an assembly facility of 29,000 sq.mt. at TMC's existing manufacturing plant in Laguna City. Operations at this plant will begin in the second half of the 2024 financial year.
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Speaking about the announcement, Sanjay Bhan, Head of Global Business, Hero MotoCorp, said, "In keeping with our R4 (Recalibrate, Revitalise, Revolutionise and Revive) strategy, we are always keenly exploring new opportunities in global markets. Our partnership with Terrafirma Motors Corporation (TMC) to enter the Southeast Asian region is an integral part of this expansion strategy. The trust and technology prowess of Hero MotoCorp combined with TMC's automotive expertise and network in the Philippines will definitely create an impact and strengthen our footprint in this key market."
Hero will foray into the South-East Asian market with the Philippines and is likely to expand to newer markets in the region
Bienvenido Sanvictores Santos, Chairman, TMC, said, "Hero MotoCorp, the world's largest two-wheeler manufacturer, has been the most trusted brand partner for more than 100 million customers all over the world. Terrafirma Motors Corporation (TMC) is a customer-centric automotive company with the vision to be the ultimate choice for value-based products and services in the Philippines. This is a coming together of two visionary companies and the new partnership will lead us to new horizons by enabling us to deliver modern, technologically superior and eco-friendly mobility solutions to our customers here."
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Hero MotoCorp already has its presence in 43 markets globally across Asia, Africa, the Middle East and South and Central America. The company also owns eight manufacturing facilities, six of which are located in India while the other two are located in Colombia and Bangladesh respectively.
