I. The Beginning
Hero was the brand name used by the Munjal Brothers for their flagship company, Hero Cycles private limited.
- Om Prakash Munjal started Hero Cycles with a capital of Rs 50,000 in 1956 raised as a bank loan.
- The then chief minister of Punjab, Pratap Singh Kairon motivated Om and his brothers to set up and run their business.
- By 1980s, Hero Cycles became the largest bicycle manufacturer in the world.
- It was also registered with Guinness World Record Book in 1986 for this feat.
A joint venture between the Hero Group and Honda Motor Company was established in 1984 at Dharuhera.
- 1984 was the year when India was under tremendous changes.
- With the start of Operation Blue Star to the assassination of the then Prime Minister.
- The Munjal Brothers paved away with their Joint venture with Honda Motor Company.
II. The Clash
By 2010, The Board of directors of Hero Honda group had decided to terminate the joint venture between both.
- The rising differences between the two partners gradually emerged as an irritant.
- One of the issue from Honda’s reluctance to fully and freely share technology with Hero.
III. The Growth
Presently Hero’s market share is 38.95%.
- Did you know India is now the world’s biggest two-wheeler market?
- A total of 17.7million were sold last year in India in which approximately 7 million were of Hero brand.
They have five manufacturing facilities based at Dharuhera, Gurgaon, Neemrana, Haridwar, and Halol.
- 76 lakhs per year is what the capacity of production of vehicles in these units,
- That is almost equal to the population of Hong Kong.
IV. New Beginning- Hero MotoCorp
The Name Change.
- The new brand identity and logo of Hero MotoCorp were developed by the British firm Wolff Olins.
- 9 August 2011, Time to release the Logo.
- What could be a better occasion than the test match between India and England at London?
In 2012, the company entered into a strategic partnership with Erik Buell Racing
- By July 2013, Hero MotoCorp acquired 49.2% shareholding in Erik Buell Racing.
- Wondering What Erik Buell Racing is? It’s a motorcycle sports company which produced street and racing motorcycles.
- With EBR filed for Bankruptcy in 2015, Hero MotoCorp proceeded to acquire assets for Rs 18.8 crores.
V. Game Change
The Commencement of GAME CHANGING center of Global Innovation And Research & Design. The aim was:
- To create a global talent pool for developing its future product line-up as an enabler of next-gen Technological revolution.
- Total investment in Rajasthan to exceed Rs 1300 crore with 4th plant and global parts center coming up at Neemrana.
- To generate employment opportunities for 3000 people in the state.
In 2014, they launched game-changing I3s Technology.
- This system automatically switches off the engine and switches back on when you press the clutch.
- I3s system puts the engine into hibernate or sleep mode once the engine is stopped.
The Biggest and the Most Trusted.
- Hero MotoCorp with 38.9% market share, it is the biggest and most trusted company for motorbikes in India
VI. Know More…