Hero Motors to unveil new Hi-end Export-oriented Unit in Punjab

#Manufacturing #NewFacility #HeroMotoCorp #HeroCycles

Source: Hero MotoCorp

Marks the first phase of operationalization of Hero E-Cycle Valley.

Hero Motor’s ambitious E-Cycle Valley project is nearing completion and soon the state-of-art facility will begin operations. The high-end export-oriented unit will be unveiled, marking the first phase of operationalization of the 50-acre facility. Over Rs 1,000 crore is being undertaken over two years in total outlay, 350 crore of which has already been invested in the building of the facility.

“While Hero E-Cycles factory augments our production capacity of premium bicycles and E Cycles for the global market, the Supplier’s Park at Hero E Cycle Valley will localize production of premium components to enable production”, said Pankaj M Munjal, Chairman and Managing Director, Hero Motors Company.

While Rs 300 crore of additional investment is in the pipeline, Hero expects around Rs 400 crore in cumulative investment from the ancillary vendors in the 50 acres of land reserved for them in the E Cycle Valley. The Valley is expected to house almost 70 per cent of global production making India a manufacturing hub for Hero’s ambitious global expansion plans.