Hero MotoCorp clocks 36 pc rise in Q1, net profit at Rs 1,123 crore
The company said that the higher profit was driven by strong sales, recovery in the rural market and new launches.
With an aim to develop alternate yet sustainable models, Hero Motocorp is all set to invest Rs 10,000 crore in research and development (R&D) in the next 5-7 years, company’s Chairman and Managing Director, Pawan Munjal, said on Tuesday.
Munjal also announced the new vision and mission of Hero Motocorp called ‘Be the future of mobility’.
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Join us on February 18, 2020 as Dr. Pawan Munjal, Chairman, Hero MotoCorp, unveils our vision on the future of mobility. #HeroWorld2020 pic.twitter.com/WaOlgq7Ebb
— Hero MotoCorp (@HeroMotoCorp) February 16, 2020
He made the statement at Hero World 2020 at the company’s Centre for Innovation and Technology. He said, “Rs 10,000 crore investment in R&D will be to focus on alternate mobility situations, sustainable development and brand building across the globe.”
During the event, the company also announced the launch of three new products in the mainstream and premium segments.
While addressing the gathering, Munjal said Hero Motocorp has been the world’s largest two-wheeler company by unit volume for the last 19 years and now it exports its products to 40 countries compared to only 4 in 2011.
Referring to the same growth, Munjal said his Hero Motorcorp was still ‘Young company with a rich legacy’.
(With input from agencies)
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