Hero Cycles Ltd. has announced the setting up of a new assembly unit. The new unit has been incorporated in the state-of-the-art manufacturing facility of Hero Motors in Ghaziabad. The unit has been set up with an investment of Rs. 21 crores in phase I and will go to about Rs. 50 crore in phase II and is capable of rolling out 1.2 lakh frames per annum.
Inaugurating the new assembly area Pankaj Munjal, Co-Chairman & Managing Director, Hero Cycles said, “So far Hero Cycles has been importing the aluminium frame which is required to manufacture the high-end/sports bikes. To maintain the precedence of staying ahead of competition all the time, it was imperative that we have our in-house manufacturing unit for aluminium frames as well. With this new unit we will not only be able to meet the domestic demand but also be able to meet our export goals”.
S.K. Rai, MD (Works) said, “we are manufacturing over 18500 bicycles daily and are not able to fulfill the demand, this plant will not only help fill the gap but also help us respond faster to consumer demand which is ever changing in today’s scenario as compared to importing the Aluminum frame.”
Pravin V. Patil, President - Urban Trail, Hero Cycles said, “The general trend in the market is that consumer behavior and lifestyle are inching towards premium products and so is the case for bicycle industry. In such scenario, the new plant unit will further strengthen Hero Cycles’ competitive edge in the premium segment by offering quality products”.
Hero Motors plant in Ghaziabad specialises in manufacturing precision automotive components for their global customers such as BRP Rotax, BMW and Harley Davidson. The fact that the new unit of Hero Cycles for producing aluminium frame has been set up at the same manufacturing plant, it gives additional advantage to Hero cycles.
Amit Gupta - CEO, Hero Motors said, “The new unit has in-house R&D capabilities, most modern Aluminium welding facility backed up by high class paint shop used for painting automotive components. Most importantly these bicycles will be produced in an environment which is led by team of professionals from automotive background.”
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