Jaipur: Hero Motocorp will invest Rs 10,000 crore in research and development (R&D) in the next 5-7 years, Pawan Munjal, Chairman and Managing Director said on Tuesday.
Munjal also announced the new vision and mission of Hero Motocorp called ‘ Be the future of mobility’.
Speaking at Hero World 2020 at the company’s Centre for Inovation and Technology, Munjal said the Rs 10,000 crore investment in R&D will be to focus on alternate mobility situations, sustainable development and brand building across the globe.
Munjal said that Hero Motocorp has been the world’s largest two-wheeler company by units volume for the last 19 years.
Hero is now exporting to 40 countries compared to only 4 in 2011. Munjal recalled the journey of Hero Motocorp as a solo player from 2011, which he said was a ‘Young company with a rich legacy’.
The new manufacturing facility in Andhra Pradesh will start commencement of operations this year.
-IANS