India’s leading two-wheeler manufacturer, Hero MotoCorp has inaugurated their fourth production facility at Neemrana, Rajasthan.
This new plant and the upcoming facilities around the country are in sync with the brands vision to produce 100 million units by 2020. This new facility in Rajasthan currently has an annual production capacity of 7.5 lakh units.Hero has invested Rs. 550 crore in this facility at Neemrana. It is spread over 47 acres of land and is environment friendly. It is a greenfield (garden) factory which will make use of solar power and also rain water harvesting. Photovoltaic panels will provide around 1.5 megawatts of energy.
Hero will be investing upto Rs. 1,600 crore on their 5th facility in Andhra Pradesh while their 6th facility will be set up in Gujarat. The company will further invest upto Rs. 5,000 crore over the next 2-3 years. Hero plans to enter the European markets next year and the American markets by 2016.