Hero MotoCorp Partners With Terrafirma Motors To Enter Philippines
Two-wheeler maker Hero MotoCorp on Wednesday announced its plans to enter the Philippines for which it has partnered with Terrafirma Motors Corporation for assembly and distribution of its vehicles.
A part of the Columbian Group of Companies, Terrafirma Motors Corporation (TMC) will be the exclusive assembler and distributor of Hero MotoCorp motorcycles in the Philippines, the company said in a regulatory filing.
TMC will set up an assembly facility of 29,000 square metres in its existing principal manufacturing facility situated in Laguna City and will start its operations in the second half of fiscal year 2024, it added.
"In keeping with our R4 (recalibrate, revitalise, revolutionise and revive) strategy, 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," Hero MotoCorp Head of Global Business Sanjay Bhan said.
TMC Chairman Bienvenido Sanvictores Santos said the partnership will enable the company "to deliver modern, technologically superior and eco-friendly mobility solutions to our customers here".
Currently, Hero MotoCorp has presence in 43 countries in Asia, Africa, the Middle East, and South and Central America. It has eight manufacturing facilities, including six in India, and one each in Colombia and Bangladesh.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Transforming Financial Operations With Robotic Process Automation
Author: Ricardo Goulart ... Read more
The Role Of Machine Learning In Fraud Detection
Author: Gerardine Lucero  ... Read more
Principles Of Islamic Banking And Finance
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more