Hero MotoCorp and CG Motors Inaugurates Product Assembly Facility in Nepal

On April 21, 2024, Hero MotoCorp informed in an exchange filing about the expansion strategies of the company and inaugurated an assembly plant in collaboration with CG Motors.

Details of the Collaboration and Expansion Plans 

Strengthening its presence in Nepal, the largest motorcycle and scooter manufacturer in the world, Hero MotoCorp, in partnership with its authorised distributor CG Motors, has unveiled ambitious business strategies and launched a product assembly facility in the country.

Hero MotoCorp launched four of its popular products in the world, which include Super Splendor, Xpulse 200 4V, Xoom 110 scooter and Splendor+ motorcycles. The four products will be assembled locally at the new state-of-the-art assembly facility located in CG Industrial Park in Nawalparasi.

The company stated in the exchange filing that the assembly facility will have a capacity of 75,000 units per annum and will bring new investments and create job opportunities in the region. CG Motors will rapidly expand its sales and service network across Nepal to cater to the increasing customer base.

Speaking about the collaboration, the Chief Business Officer – Global Business Unit of Hero MotoCorp, Sanjay Bhan, said, “With innovation and technology at its core, Hero MotoCorp is committed to providing world-class products and experiences to its customers across the globe. This is an exciting development for us, CG Motors and Nepal. The state-of-the-art assembly unit will ensure that our world-class products will now be made in Nepal and available to customers across the country.”

He further added, “The rapid expansion of the sales and service network will enable us to entrench the market with our world-class products and services. Our renewed focus in Nepal, along with our partners CG Motors, is reflective of our commitment to the country, which continues to be a very important market for us.”

The Managing Director of the Chaudhary Group (CG), Nirvana Chaudhary, said, “This is a very special occasion for everyone at CG Motors. We are delighted with the inauguration of our assembly facility and excited to launch these new products. Hero MotoCorp’s world-class expertise in manufacturing and business processes will be highly beneficial for us to scale up operations. We look forward to building a robust market presence across the country.”

According to the exchange filing, CG Motors opened its flagship showroom in Kathmandu and will have more than 100 sales and service outlets within the next three months.

On April 22, 2024, the share price of Hero MotoCorp Ltd opened at ₹4,239.85, touching the day’s high at ₹4,239.85, as of 10:08 AM on the NSE.

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