Hero Cycles may soon take to British and American roads. The bicycle major is planning a foray into the international market by the end of this year.
“We are evaluating various options for our US and UK operations. We might assemble bicycle parts there, or ship out already assembled bicycles. This will happen within this year,” said Mr Sanjay Singh, Vice-President (Corporate Planning), Hero Motors.
The company expects 5-10 per cent of their sales volume to come from these markets, a year into the operation.
“These bikes will be entry-level ones in the US and the UK, but premium bikes for the Indian markets. We will be adding new models to our product line by November,” Mr Singh told Business line .
Hero Cycles produces over 18,500 cycles a day and has an annual turnover of Rs 1,700 crore. The company is the market leader with 48 per cent share of the Indian market. Their Ludhiana unit is the largest bicycle manufacturing plant in the world with annual sales volume of over 4.8 million cycles.