NEW DELHI: The country's largest two-wheeler maker Hero MotoCorp today launched its first in-house designed and developed motorcycle, Splendor iSmart 110, priced at Rs 53,300 (ex-showroom Delhi).
Built on a completely new chassis and frame with a brand new engine, the new model has been developed at the company's Centre of Innovation (CIT) in Jaipur.
"With the launch of the all-new Splendor iSmart 110, we have achieved yet another significant milestone in our solo journey," Hero MotoCorp Chairman, Managing Director and CEO Pawan Munjal told reporters here.
The launch comes on the heels of the successful launch of the first range of indigenously developed scooters last year, he added.
"I can proudly state that Hero MotoCorp possess a self-sufficient in-house capability to develop new products for our global customers," Munjal added.
The Splendor iSmart 110 features a BSIV compliant new engine, which offers 9 per cent more power with a higher fuel economy. The new bike doesn't have any legacy technology of Hero's erstwhile partner Honda.
In 2010, Hero Group had parted ways with Japan's Honda after 26 years of running their successful joint venture Hero Honda. Since then the Indian company has been focusing on developing in-house products.
Besides the domestic market, the company plans to export it to other global markets. Currently, the iSmart Splendor is exported to 11 countries.
Hero MotoCorp has set ambitious target of entering 50 new markets by 2020 with 20 manufacturing facilities across the globe and an overall annual turnover of Rs 60,000 crore.