NEW DELHI: Homegrown auto-major Hero MotoCorp has partnered with Terrafirma Motors Corporation (TMC), a part of the Columbian Group of Companies, to commence its operations in the Philippines. As part of the partnership, TMC will be the exclusive assembler and distributor of Hero MotoCorp motorcycles in the Philippines.
The company will set up an assembly facility of 29,000 sq. mtrs in its principal manufacturing facility situated in Laguna City and start its operations in the second half of fiscal year 2024.
Sanjay Bhan, head of global business, Hero MotoCorp, said “Our partnership with TMC to enter the Southeast Asian region is an integral part of this expansion strategy. The trust and technology prowess of Hero MotoCorp combined with TMC’s automotive expertise and network in the Philippines will create an impact and strengthen our footprint in this key market."
While Hero’s global footprint spans 43 countries in Asia, Africa, Middle East, and South & Central America, its export numbers are much lower than that of Bajaj Auto and TVs. In September 2022, Hero exported just 12,290 units from India. Hero MotoCorp has 8 state-of-the-art manufacturing facilities, including 6 in India, and one each in Colombia and Bangladesh.