To set up a motorcycle assembly plant in Laguna City in association with Terrafirma Motors with start of operations planned after October 2023. This will be its third overseas plant after those in Colombia and Bangladesh.
26 Oct 2022 | 4155 Views | By Autocar Professional Bureau
Hero MotoCorp, the world’s largest motorised two-wheeler manufacturer, has announced plans to commence operations in the Philippines in association with Terrafirma Motors Corporation (TMC), a part of the Columbian Group of Companies, which is among the leading automotive groups in the Philippines and also represents brands like BMW, Kia, Mazda, Range ...
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Hero MotoCorp, the world’s largest motorised two-wheeler manufacturer, has announced plans to commence operations in the Philippines in association with Terrafirma Motors Corporation (TMC), a part of the Columbian Group of Companies, which is among the leading automotive groups in the Philippines and also represents brands like BMW, Kia, Mazda, Range Rover, Peugeot and Mahindra.
As part of the partnership, TMC will be the exclusive assembler and distributor of Hero MotoCorp motorcycles in Philippines. The company will set up an assembly facility, spread across 29,000 square metres in its existing state-of-the-art principal manufacturing facility situated in Laguna City and start its operations in the second half of FY2024 (October 2023-March 2024). This project will mark Hero MotoCorp’s entry into the growing South-East Asian market.
As part of the partnership, TMC will be the exclusive assembler and distributor of Hero MotoCorp motorcycles in Philippines. The company will set up an assembly facility, spread across 29,000 square metres in its existing state-of-the-art principal manufacturing facility situated in Laguna City and start its operations in the second half of FY2024 (October 2023-March 2024).
Commenting on the new manufacturing strategy, Sanjay Bhan, Head of Global Business, Hero MotoCorp, said: “We are always keenly exploring new opportunities in global markets. Our partnership with Terrafirma Motors Corporation to enter the Southeast Asian region is an integral part of this expansion strategy. The trust and technology prowess of Hero MotoCorp combined with TMC's automotive expertise and network in Philippines will definitely create an impact and strengthen our footprint in this key market.”
Bienvenido Sanvictores Santos, Chairman, TMC, said: “Terrafirma Motors Corp is a customer-centric automotive company with the vision to be the ultimate choice for value-based products and services in the Philippines. This is a coming together of two visionary companies and the new partnership will lead us to new horizons by enabling us to deliver modern, technologically superior and eco-friendly mobility solutions to our customers here.”
Hero MotoCorp, whose global footprint spans across 43 countries in Asia, Africa, Middle East, and South and Central America, has eight manufacturing facilities, including six in India, and one each in Colombia and Bangladesh.
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