Last Updated on October 17, 2023 by BFSLTeam BFSLTeam
Hero MotoCorp Ltd., a renowned two-wheeler brand from the vibrant city of New Delhi, has consistently maintained its stature as a global leader in the motorcycle and scooter sector for well over two decades. Imagine a dedicated assembly line in New Delhi, carefully producing vehicles that have become a staple on Indian roads, a representation of the country’s spirited and determined automotive industry. Hero MotoCorp hasn’t merely led India’s remarkable journey in mobility but has also shown its solid presence across the international automotive marketplace, showcasing the expertise of Indian manufacturing and engineering capacities to a global audience, spanning 47 countries to be precise.
In this blog post, we will delve into the universe of Hero MotoCorp Ltd. exploring the significant milestones it has achieved during its remarkable journey.
Table of Content
About Hero MotoCorp Ltd.
| Aspect | Details |
| Founder | Brijmohan Lall Munjal |
| Industry Type | Automotive |
| Founded Year | 1984 |
| Headquarters | New Delhi, India |
| Key People | Dr. Pawan Munjal (Executive Chairman) Niranjan Gupta (CEO) |
| Parent Company | Hero Group |
| Countries | 47 (Worldwide Presence) |
| Market Cap | ₹602.67 billion |
| Total Employees | 9,215 |
Overview of Hero MotoCorp Ltd.
Hero MotoCorp Ltd., headquartered in New Delhi, India, stands as a formidable entity in the global two-wheeler industry. Established in 1984, it has consistently been the world’s largest manufacturer of motorcycles and scooters in terms of unit volumes since 2001. With a commanding 47% share in India’s domestic motorcycle market and a substantial 33.2% in the overall two-wheeler market, the company solidifies its position as a market leader on its home turf.
Hero MotoCorp has a vast network of over 10,000 customer touchpoints worldwide, ensuring a broad and efficient customer reach. With an impressive annual production capacity exceeding 9.50 million units across its 8 manufacturing facilities, the company meets the demand effectively. Internationally, it extends its presence to 47 countries, offering its products to a diversified global clientele.
Its commitment to innovation and customer satisfaction is evident through its 110 million-strong customer base. The company remains driven by its vision of being ‘The Future of Mobility,’ and its mission emphasises creating industry-leading mobility solutions, collaborating for sustainable practices, and inspiring stakeholders through purposeful action.
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Hero MotoCorp Ltd. History
1984: The inception of Hero Honda Motors Ltd. was marked as a joint venture between the Hero Group and Honda Motor Company, Japan.
1985: This year witnessed the rollout of the first motorcycle, “CD 100”
1987: A significant landmark, the 100,000th motorcycle was produced.
1991: Hits the production milestone of 500,000 motorcycles.
1994: The iconic ‘Splendor’ was introduced, and the production number hit 1,000,000.
1997: Introducing the new model “Street”, Hero also extended its manufacturing capability by inaugurating its 2nd plant at Gurgaon.
1999: With the introduction of a new model – “CBZ”, Hero showcased its ability to explore, merging style with performance.
2000: A remarkable year when Splendor was declared the ‘World No. 1’- the largest-selling single two-wheeler model.
2001: The 5 millionth motorcycle rolled out, and the new model “Passion” was introduced.
2003: Splendor achieved a global record of being the World’s largest-selling model for three consecutive years (2000, 2001, 2002).
2004: This year marked the emergence of Splendor as a global leader, crossing the 5 million mark in sales, and Hero Honda becoming the World No. 1 Company for the third consecutive year.
2005: The company established Hero Honda Haridwar Plant, its third manufacturing facility.
2007: This year saw the company introduce a revolutionary 100cc bike, the “Hero Honda CBZ Xtreme”, which brought fresh designs and technological advancements into the market.
2009: The 15 millionth two-wheeler was rolled out from its plant in Gurgaon.
2010: Company decided to part ways with Honda and was renamed Hero MotoCorp in the following year, signifying the end of a joint venture and the beginning of an independent journey.
2011: It marked the birth of a new identity with Hero MotoCorp unveiling its new logo and brand identity. It also launched “Impulse”, the first model without Honda technology.
2013: The company introduced “iSmart”, featuring the innovative i3S technology (idle start-stop system) which marked Hero’s steps towards smart, eco-friendly mobility solutions.
2016: Hero MotoCorp launched the “Splendor iSmart 110”, the first motorcycle to be developed completely in-house, showcasing its R&D capabilities post-separation from Honda.
2018: Hero MotoCorp celebrated the production of its 100 millionth two-wheeler, a milestone in the global two-wheeler industry.
2019: Setting the 25 million units production landmark at the Haridwar Facility marked this year.
2021: The company’s operations in Nigeria were restarted, and enhanced its premium portfolio with the XPULSE 200 4V launch.
2022: Hero MotoCorp announced several notable events, including a collaboration with Hindustan Petroleum Corporation Ltd. to push emerging mobility solutions and unveiled a new brand ‘VIDA’ for electric mobility.
2023: Key changes took place this year, including the appointment of NIRANJAN GUPTA as Chief Executive Officer.
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Major Subsidiaries of Hero MotoCorp Ltd.
Hero Cycles Ltd.
A flagship company of the Hero Eco Group, Hero Cycles holds the title of being one of the largest manufacturers of bicycles in the world. Established in 1956, Hero Cycles has focused on producing high-quality bicycles but also has been crucial in promoting a culture of eco-friendly transportation. With a manufacturing capacity that stands at around 5.2 million bicycles per annum, it showcases its operational excellence and has a variety of models suitable for all age groups.
Hero FinCorp Ltd.
Instrumental in meeting the financial facilitation needs of customers, dealers, and suppliers of Hero MotoCorp, Hero FinCorp makes a notable mark in the financial sector. With a diversified product portfolio that includes solutions for two-wheeler financing, Hero FinCorp not only aids in increasing the sales of Hero MotoCorp but also delivers a smooth and supportive financial experience to its customers. It prides itself on its robust network, offering financial products that cater to a wide variety of needs across different demographics.
Hero Future Energies Pvt. Ltd.
Hero Future Energies, established in 2012, signifies Hero MotoCorp’s commitment towards sustainability and environmental responsibility. With a multidimensional approach covering wind, solar, and alternative energy, Hero Future Energies is emerging as a key contributor in shaping India’s renewable energy landscape, ensuring a cleaner and more sustainable future.
Major Acquisitions by Hero MotoCorp Ltd.
Erik Buell Racing (EBR)
In 2013, Hero bought a big piece of Erik Buell Racing (EBR), a company in the U.S. known for making great motorcycles. This buy helped Hero learn more about making sports bikes and use EBR’s know-how in engineering. Joining hands with EBR, Hero planned to use its big manufacturing power to make exciting new products and spread its business in more countries.
Ather Energy
Hero put money into Ather Energy, an Indian company that’s good at making electric scooters. This wasn’t just about investing money but also about learning more about electric vehicle (EV) technology. Ather’s cool electric scooters and their knowledge of EV tech helped speed up Hero’s own work in making electric vehicles. This shows Hero’s promise to build eco-friendly bikes and is a big step towards their dream of green mobility.
Products/Brands Under Hero MotoCorp Ltd.
Hero Splendor
Splendor is a bike that many people know and trust. It came out in 1994 and since then, it has been loved for being a good, reliable bike that doesn’t use much petrol. There are different kinds of Splendor like Splendor+, Super Splendor, and Splendor iSmart, and all of them are easy to afford and run. They are simple, look good, and are easy to ride every day.
Hero Passion
The Passion series, which started in 2001, is a good-looking yet pocket-friendly bike. It is liked by young people and working folks too because of its modern design and good mileage. There are different models like Passion Pro and Passion XPro which give a great riding experience without using a lot of petrol.
Hero Karizma
Since 2003, Karizma has been a popular name for those who like sporty bikes. It looks sporty and rides powerfully, making it a choice for people who like long rides and sporty riding. Karizma and the later model, Karizma ZMR, were liked for their powerful 223cc engine and sporty look. This bike made it clear that Hero can make bikes that are exciting and meet different riders’ dreams.
Hero CBZ
CBZ, a bike that came out in 1999 in the 150cc category, showed Hero MotoCorp’s commitment to making powerful and stylish bikes. CBZ quickly became famous for its strong engine, sporty looks, and great performance. It catered to young people and bike lovers by providing a mix of power and style. The CBZ series grew with new models like CBZ Xtreme and CBZ Star, showcasing Hero’s skill in mixing lively style with strong performance and setting a standard in the higher-level bike segment.
Conclusion
The big picture of Hero MotoCorp Ltd. shows a company that never stops trying to do better and stays committed to inventing new ways of travel. From starting small to becoming a big player on the world stage, Hero has shaped a path that shows not only its big wins but also its strong belief in creating, working together, and inspiring others. Going through Hero’s story – its beginnings, smart buys, tech advances, impressive products, and its clear effect on the world, all these together tell a story of a brand that has consistently worked to reshape how we move.
