Hero MotoCorp recently announced its financial results for Q4 FY2024, and the company closed the year with an 18.6 per cent hike in profit. A sign of a recovering two-wheeler market, CEO Niranjan Gupta also announced that the company is planning to open a two-wheeler facility in Brazil as part of its expansion in the Latin American market. This would be Hero’s third international facility, after Colombia and Bangladesh. The company has six manufacturing facilities in India.
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Gupta was speaking to the media during the post-earnings call when he announced the development. Gupta said, “As far as Brazil is concerned, we have tested our current product range through consumer clinics there.” He further added that the vehicles built for the LATAM market will use a blend of 27 per cent ethanol with gasoline for fuel, called E27.
Latin America is a big market for Hero, and the company has been eyeing a facility in the region for a while now. While plans were drawn up as early as 2014, the automaker delayed setting up a facility after the local government decided to push for more flex-fuel technology in its vehicles. The new plant in Brazil will manufacture and distribute two-wheeler vehicles, parts, and accessories.
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Meanwhile, Hero’s sales have been driven by the continued momentum in the 125+ segment. The previous fiscal saw the manufacturer expand its product portfolio in the premium space, starting from the Xoom 110 to the Xtreme 125R, Karizma XMR 210, Xtreme 160R 4V, Xtreme 200S 4V, and the new Mavrick 440. Hero and partner Harley-Davidson also introduced the H-D X440 last year, the most accessible Harley model globally. Furthermore, the company inaugurated its Hero 2.0 and Premia stores, upgrading existing dealerships, while the Premia line is for the brand’s premium range.
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Going forward, Hero MotoCorp is planning to bring the Xoom 125R and Xoom 160 to the market later this year. Gupta confirmed the same in a statement, while the two-wheeler giant plans to bring new mid- and entry-level electric offerings under the Vida brand. More details on the Hero’s future range will be available in a few months, with the company likely to save the big-ticket launches for the festive season.
