Hero MotoCorp and CG Motors Partner To Set up Assembly Plant in Nepal By CIOTechOutlook Team

Hero MotoCorp and CG Motors Partner To Set up Assembly Plant in Nepal

CIOTechOutlook Team | Tuesday, 23 January 2024, 03:43 IST

Hero MotoCorp has announced that it will set up a factory in Nepal in partnership with CG Motors, its newly named distributor in the country. The plant will be located in Nawalpur district and will have a capacity of 75,000 units per year, the country's largest two-wheeler manufacturer number 039 said.

Operations will begin in March 2024, it added. Hero MotoCorp forayed into Nepal in 2014. Over the years, the company has established itself as a leading player in the country, as per economic times.

"With their vast expertise and diversified business knowledge, Chaudhary Group (CG) will provide an enormous fillip to our operations here," Hero MotoCorp Head-Global Business Sanjay Bhan said.

In the near future, the firm plans to bolster its operations across the country and bring several new interesting products to the market, he added..

"This partnership marks CG Motors' ambitious re-entry into the automotive market, leveraging Hero MotoCorp's renowned products and services," Chaudhary Group Managing Director Nirvana Chaudhary stated.

The firm sells models like Super Splendor, Glamour, HF Deluxe and Xpulse 200 in Nepal. It also sells Destini 125, Maestro Edge and Pleasure+ scooters in the market.

Hero MotoCorp Limited is an Indian multinational motorcycle and scooter manufacturer headquartered in Delhi. It is one of the largest two-wheeler manufacturers in the world and has a market share of approximately 46% in the Indian two-wheeler industry. The market capitalization of the company as on 27/05/2021 was â‚¹ 59,600,.