Building on its commitment to Nepal, Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, along with its authorized distributor CG Motors, has announced its aggressive business plans and inaugurated a product assembly facility in the country.
Hero MotoCorp launched four of its globally popular products - Xpulse 200 4V, Super Splendor, Splendor+ motorcycles and Xoom 110 scooter. The four products will be assembled locally at the new state-of-the-art assembly facility located in CG Industrial Park in Nawalparasi.
The facility will have a capacity of 75,000 units per annum and will bring new investments and create job opportunities in the region. CG Motors will be rapidly expanding the sales and service network across Nepal to cater to the growing customer base.
Commenting on the collaboration, Sanjay Bhan, Chief Business Officer - Global Business Unit, Hero MotoCorp said, "With innovation and technology at its core, Hero MotoCorp is committed to providing world-class products and experiencesto its customers acrossthe globe. This is an exciting development for us, CG Motors and for Nepal. The state-of-the-art assembly unit will ensure that our world-class products will now be made in Nepal and available to customers across the country. The rapid expansion of the sales and service network will enable us to entrench the market with our world-class products and services. Our renewed focus in Nepal, along with our partners CG Motors, is reflective of our commitment to the country, which continues to be a very important market for us."
Nirvana Chaudhary, Managing Director, Chaudhary Group said, "This is a very special occasion for everyone at CG Motors. We are delighted with the inauguration of our assembly facility and excited to launch these new products. Hero MotoCorp's world-class expertise in manufacturing and business processes will be highly beneficial for us to scale up operations. We look forward to building a robust market presence across the country."
The new facility is situated in the center of Nepal and will ensure swift availability of products across the country. Simultaneously, the rapid expansion of the sales and service network will ensure all customer requirements are addressed seamlessly. CG Motors opened the flagship showroom in Kathmandu and will have over 100 sales and service outlets within the next three months.
Hero MotoCorp forayed into Nepal in 2014 and over the years has established itself as a leading player in the country, with overwhelming response for its iconic brands such as the SuperSplendor and Xpulse 200 motorcycles. Nepal is one ofthe key markets for the company in Asia.
The Chaudhary Group (CG), a prominent leader in Nepal's business landscape, operates an expansive network of over 160 companies and 123 brands worldwide, backed by a dedicated team of more than 15,000 employees. The group's operations include the Fast-Moving Consumer Goods (FMCG)industry, FinancialServices, Energy & Infrastructure development, Hospitality sector, and cutting-edge Electronics sector. The Chaudhary Group continuously showcases its commitment to innovation and excellence across various fields.
Shares of Hero MotoCorp Limited was last trading in BSE at Rs. 4215.15 as compared to the previous close of Rs. 4252.70. The total number of shares traded during the day was 15662 in over 2963 trades.
The stock hit an intraday high of Rs. 4240.05 and intraday low of 4170.55. The net turnover during the day was Rs. 65874837.00. |
