History of HERO MotoCorp Limited – The Largest Two Wheeler Manufacturer
Hero MotoCorp is the largest scooter and motorcycle manufacturer in the world that originated from India. Currently with around 15 motorcycle and scooter models they are operating their business worldwide. In Bangladesh they are one of the largest motorcycle selling brands. Therefore we are herewith HERO MotoCorp Limited – The Largest Two Wheeler Manufacturer. Let’s get enhanced with some details of that giant motorcycle manufacturer.
The Hero MotoCorp Limited formerly named Hero Honda established on 1984. The company formed under the joint venture between India’s largest bicycle manufacturing company Hero Cycles and Japanese motorcycle brand HONDA.
The Hero Cycles Limited formed officially at 1956 where their bicycle business officially starts from 1944. From the establishment Hero Cycles produced bicycle components and now they are one of the largest bicycle manufacturers in the world.
Hero Cycles Limited
The group of companies HERO formed and established by the Munjal Family from Ludhiana, Punjab, India. The four Munjal Brothers are the men behind the giant establishment where the former Munjal Brother was Dr. Brijmohan Lall Munjal.
Starting from a small town named Kamalia, (currently) Pakistan at 1944 they established their bicycle business at Amritsar (currently India). After the partition of India & Pakistan at 1947 Munjal Brothers shifted their business at Ludhiana, Punjab, India.
From the Ludhiana plant Hero Cycles started manufacturing bicycle components. Afterward they went for assembling and full throttle bicycle production. That time the plant had the capacity of producing 25 cycles per day.
In 1956 the year of official formation Hero Cycle produced total 639 pieces of bicycles. Currently in present Hero Cycles can produce over 18,500 bicycles in a day. On 1975 Hero Cycle become the largest bicycle manufacturer in India with the capacity of producing 7,500 cycles in a day. Afterward they got the entry in Guinness Book of World Records as the largest bicycle manufacturer in the world.
Hero Honda Motors Limited
Therefore in sequence of success HERO Cycles started producing mopeds. The Munjal family established Majestic Auto and produced Hero Majestic Mopeds. After that they planned and aimed to enter in scooter and motorcycle manufacturing business. For that mission they incorporated with the giant Japanese motorcycle manufacturer Honda.
On 1983 both the Hero Cycles and Honda came in agreement for joint venture under the brand name of Hero Honda that effected from 1984. From 1985 the company Hero Honda produced their first motorcycle Hero Honda CD100.
The company Hero Honda produced its 1,00,000th number of motorcycle on 1987 and 50,00,000th on 1991. In the year 1990 Hero Honda Splendor decelerated as Worlds No 1 largest selling motorcycle.
On 1991 Hero Honda also produced 10,00,000 pieces of motorcycle. On that year they also achieved the position of largest two-wheeler manufacturing company in India. That year they also became the Worlds No.1′ two wheeler company. That certification came in terms of their sales volume within a calendar year. Afterward the company still is maintaining their achievements every year whereas till 2015 they have sold over 60 millions of motorcycle and scooters.
Hero MotoCorp Limited
After the formation of Hero Honda the company introduced many of their successful motorcycle models one after another. By the time their production increased significantly and the sales also increased accordingly. Due to competitive price, quality and efficiency Hero-Honda motorcycles sales volume touched the peak within a short time in India.
Consequently in succession within internal market Hero Honda started to think expanding their sales in foreign market. But under the joint venture terms and conditions they could not go for the foreign market. Within their joint venture they could spread their market only in Nepal, Sri Lanka and Bangladesh where Honda had no individual activity.
In such situation the board of directors of Hero-Honda finally comes in decision of terminating the join venture on 2010. Here both the company interested expending and covering individual market in India and in foreign. So they settled for the termination of the joint venture under the brand name of Hero Honda.
The termination of joint venture came to end in some phase of transferring investment, share, capital & liability. Afterward on July 29, 2011 the company renamed as Hero MotoCorp Limited. On August 2011 the company revealed their brand name HERO and their brand new logo. Thus the HERO completely owned by Hero Group.
The brand Hero started their full throttle individual operation from 2012. Their entire product line also came under the badge HERO in the market from 2012. But as per previously signed contract Honda R&D stayed connected with Hero for technology support for existing and upcoming product until year 2014 whereas the brand Hero Honda completely developed in support of Honda R&D from 1984.
Hero MotoCorp Limited in Bangladesh – Nitol Niloy Group
Hero Honda motorcycles first time entered in Bangladeshi motorcycle market in cooperation with Atlas Bangladesh Limited. After termination of the joint venture of Hero Honda the contract between Hero Honda & Atlas Bangladesh Ltd also terminated.
Afterward the new company Hero MotoCorp came in cooperation with Bangladeshi company Nitol Niloy Group. From April 2014 Nitol Nily Group started distributing the Hero branded motorcycle in Bangladesh.
Under that contract HERO also committed to produce their motorcycles locally in Bangladeshi manufacturing plant. That’s the first contract of joint venture of Hero to built first overseas manufacturing plant and that is in Bangladesh.
So readers, that was the short background of giant motorcycle manufacturer Hero MotoCorp Limited therefore Hero. Here we tried to give you a summarized sketch of the company. But the detailed picture of HERO is really much wider as this is the largest two wheeler company in the world. Hope you have enjoyed our HERO MotoCorp Limited – The Largest Two Wheeler Manufacturer. Therefore thank you all.