Hero MotoCorp Company – About, History, Awards
About Hero Motocorp
Hero Motocorp is the most trusted and well-known brand in the 2 wheeler industry. The earlier name of Hero MotoCorp Ltd was Hero Honda. Hero MotoCorp is one of the leading manufacturers of motorcycles in India. It has its headquarters in New Delhi, India. This company manufactures the highest number of two-wheelers in the globe.
Established in the year 1984, Hero started its business as a joint venture. More than 46% of two-wheelers in India are manufactured by Hero MotoCorp. It is regarded as one of the most reputable firms in the whole globe according to the Forbes list.
In the year 1984, a joint venture was set up between Hero Motor Company and Honda Group. They gave the name as Hero Honda Motors Limited and started the company in Dharuhera, India.
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At the time of establishment, the Munjal family and Honda group had a 26% stake in the company. As India was an underdeveloped country during the period of the 1980s, the company introduced the two-wheelers who ran at a low cost.
The company had advertised its products with the slogan” Fill it – Shut it – Forget it”. Until now, Hero MotoCorp remains as the best two-wheeler manufacturer in India. Most of the technologies used in the making of these two-wheelers belong to Japan.
In the year 2010, the two groups separated and Munjal Family took back their 26% stake from the company. Later in the year 2011, a new company namely Hero MotoCorp Limited established.
British firm Wolff Olins designed the logo of the new company. Unlike before, Hero MotoCorp Limited started exporting its vehicles to different countries of the world such as West Asia, Africa, and Latin America.
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The company joined hands with Nitol-Niloy Group, Bangladesh’s company in the year 2014 to start its operations in Bangladesh. The operations finally started in the Bangladesh plant in the year 2017.
Awards won by Hero MotoCorp Limited
Hero Honda was one of the most trustworthy brands in India as per the Brand Trust Report. Further, this company has received awards for 2 different categories in the year 2012. The two titles were “Best value for Money Bike Maker” and “Best Advertising”.
Employees of the company
Hero MotoCorp Limited has 5,842 employees at present. The company spends approximately INR 8 billion each year for employee benefits.
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The business of Hero MotoCorp Limited
Till the year 2013, Hero MotoCorp Limited had sold more than 70 million two-wheelers. The most famous product of the company is Hero Honda Splendor. It sells over 1 million units of this product every year.
Hero MotoCorp Limited sponsors many football leagues and tournaments and also cricket tournaments.
At present, the chairman of Hero MotoCorp Limited is Pawan Munjal who is the son of Dr. Brij Mohan Lall Munjal. He is also the managing director and CEO of the company.
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According to the statistics of the year 2018, the company sells around 7,580,100 units every year. It earns revenue of more than INR 310 billion as per the year 2017. As per the reports of 2013, the market capitalization of this company was around INR 308 billion.
Image Source: “hi.wikipedia.org”