All India Management Association (AIMA) has recognized the Pawan Munjal owned Hero MotoCorp as the Indian multi national company (MNC) of the year. The association had awarded the same to the MD and CEO of Hero MotoCorp Limited in a special event in New Delhi on 27th of April, 2017. Hero MotoCorp has been expanding rapidly globally after its severed ties with Honda.
On receiving the award, a visibly happy and elated Mr.Munjal said, “Brand Hero has expanded to 35 countries spread across Asia, Africa and Central and South America in a very short span of time since charting its solo journey in 2011. We added Argentina, the second largest two-wheeler market in Latin America, to our international footprint in January this year, where we also unveiled the new Glamour motorcycle in our first global product launch.”
With a manufacturing facility set up in Latin America already, Hero MotoCorp has clearly set its goal for further expansion globally. Hero MotoCorp has already sold more than 6.6 million two wheelers around the world for the financial year 2017. Following up on its global plant at Vila Ricca in Colombia, Hero MotoCorp is already set to open up its second manufacturing base in Bangladesh strengthening its reputation as the global Indian MNC further.
Hero MotoCorp formerly Hero Honda has come a long way after Honda, its then joint partner, decided to sever its ties with Hero and establish itself as a competitor in the burgeoning Indian motorcycle scene back in 2010. Hero Honda bought the shares held by Honda, rebranded itself as Hero MotoCorp and started doing one of the most successful rebranding exercise in the Indian automobile industry. The company has grown extensively in the past seven years launching several products which answered Indian customers’ requirement of cheap ownership and high reliability. Riding on the success in India and with the knowledge of one of the complex markets in the world, Hero MotoCorp has been establishing itself in other emerging markets like Latin America and Africa.