from https://www.business-standard.com/ by Press Trust of India
Two-wheeler market leader Hero MotoCorp on Friday announced the expansion of operations in Argentina with the opening of its flagship dealership in Buenos Aires in partnership with Gilera Motors Argentina.
Gilera Motors Argentina (GMA) will make new investments to rapidly expand all business operations for Hero MotoCorp’s products. This is expected to generate nearly 500 new jobs in the region, the company said in a regulatory filing.
Further, GMA has also expanded its plant in Carlos Spegazzini province of Buenos Aires to completely renovate its infrastructure and adapt the latest automotive technologies that are incorporated in Hero MotoCorp products, it added.
ABOUT HERO MOTOCORP
Hero MotoCorp is the largest two-wheeler manufacturer in the world. In January 2021, Hero MotoCorp’s production exceeded 100 million two-wheelers.
Hero MotoCorp is the Exclusive Distributor for Harley-Davidson motorcycles in India and manages the Authorized Dealerships, Service Centers and parts for the iconic American brand.
HeroMotoCorp is present in South American and African nations and launched Hero brand in Mexico in January 2021 in Partnership with Grupo Salinas.
Hero Motorsports Rally Team participates in international competitions including Dakar Rally.
In July 2013, HeroMotoCorp acquired 49.2% shareholding in Erik Buell Racing, a motorcycle sport company which produced street and racing motorcycles based in East Troy, Wisconsin, United States. EBR filed for bankruptcy in 2015 and Hero MotoCorp acquired certain assets for ₹18.2 crore (equivalent to US$3.5 million in 2020).
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“We are happy to rapidly expand our operations in Argentina. We have already made significant progress since announcing our new association with Gilera Motors Argentina in October,” Hero MotoCorp Head – Global Business Sanjay Bhan said.
The company has already inaugurated a flagship store and is focussed on scaling up sales and service across the country, he added.
GMA is one of the leading companies in the motor vehicle sector in Argentina and one of the most experienced motorcycle manufacturers in Latin America.
Gilera Motors Argentina Director Ramiro Di Liscia said, “our association will have a multiplier effect on the local economy, generating investment and new direct and indirect jobs. We are adding nearly 500 new jobs already and expect more benefits to the local economy as we further expand our operations in the future.”
The new investment and new facilities that Gilera Motors Argentina is making will boost the industry in the country. Customers will also benefit from the latest technologies of Hero MotoCorp products such as the Xpulse 200 and Hunk 160R, which comply with Euro 3 and Euro 4 standards, GMA Vice-President Omar Caruso said.