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Hero MotoCorp surpasses 25 million units landmark in cumulative production at Haridwar facility

from https://www.equitybulls.com Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has crossed yet another milestone in its illustrious journey, with its manufacturing facility at Haridwar, in the northern Indian hill state of Uttarakhand achieving the unique distinction of surpassing 25 million units in cumulative production. The manufacturing facility, commissioned in April 2008, has achieved the milestone in just over 11 years of operation – an industry record. The Haridwar facility of Hero MotoCorp is also the world’s largest two-wheeler manufacturing plant with an installed capacity to produce 9500 vehicles per day. Speaking on the occasion, Mr. Vikram Kasbekar, Executive Director (Operations) and Chief Technology Officer, Hero MotoCorp said, “This is a significant milestone for not just our Haridwar manufacturing plant, but also the entire organization. The manufacturing practices that we follow at Hero MotoCorp have always set new benchmarks in the industry. The production of 25 million two-wheelers at our Haridwar plant in such a short period of time since its commencement of operation bears testimony to the dedication and competency of the team. We are grateful to all our valued customers, partners, investors, the state government of Uttarakhand and all other stakeholders for their continued support and faith in us..” Keeping Hero MotoCorp’s focus on sustainability, the Haridwar manufacturing facility has the world’s largest green-roof, spread over 4500 sq. mtr. The plant produces 1.95 MW of solar power, has zero liquid discharge and a lake for rain water harvesting. The plant produces Hero MotoCorp’s popular motorcycles – HF Deluxe, Splendor+, Splendor iSmart 110, Passion Pro and Passion 110. With a robust supply chain, it sources 75% (in value) of the parts from industries within Uttarakhand. Hero MotoCorp currently has seven globally benchmarked manufacturing facilities, including five in India and one each in Bangladesh and Colombia. The plants […]

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World’s costliest parking space sold for almost $ 1mn

At 134.5 square feet, the cost of the parking space breaks down to $7,209 ($56,505 HK) per square foot, which is three times the median price of a Hong Kong house. HONG KONG: At the 73-story Hong Kong skyscraper “Center”, a pricey parking space reserved for executives and tenants was recently sold for an eye-popping $969,000 ($7.6 million in HK dollars), the media has reported. Johnny Cheung Shun-yee, one of the 10 investors in the consortium that paid $5.15 billion last year for “The Center”, told that he had sold the last of his four car parks in the tower to someone who owns an office in the same building because “the buyer now needs a car park lot,” declining to identify the buyer, according to South China Morning Post. At 134.5 square feet, the cost of the parking space breaks down to $7,209 ($56,505 HK) per square foot, which is three times the median price of a Hong Kong house. The sale price, in a city where nearly one in five residents lived below the government-defined poverty line in 2017, underscores the wealth gap that has pushed Hong Kong into the worst political crisis in decades, the SCMP report added.