India’s largest two-wheeler maker, Hero Moto Corp, on Thursday said it has crossed the 100 million or ten crore, cumulative production landmark since its inception in 1984, and announced to introduce over ten products annually in the next five years to keep its growth momentum.
The company rolled out the 100 millionth unit, Xtreme 160R model, from its manufacturing facility in Haridwar. Incorporated on January 19, 1984, Hero MotoCorp achieved its first one million cumulative production milestone in 1994 and went on to cross 50 million units in 2013 and 75 million units in 2017.
while virtually addressing a global audience, Hero MotoCorp Chairman and CEO Pawan Munjal said "We have travelled from 50 million units to 100 million units in mere seven years…the milestone is a symbol of our perseverance and fruition of our dreams,” It is also the success of evolving engineering, operational excellence and sustainable practices and the holistic ecosystem built on trust and belief that have grown along with this company, he added.
Stating that the landmark is also an affirmation of the inherent capabilities in India and Hero’s brand appeal, he said, "We have been making in India, for the world and this milestone is an acknowledgment of the customers’ preference for Hero across geographies, demographics and generations.”
Shares of Hero MotoCorp Limited on Thursday closed at Rs.3265 per share, down 0.32 percent from its previous closing on the National Stock Exchange.