Hero MotoCorp, the leading two-wheeler manufacturer, has announced that it will invest Rs 10,000 crore in research and development. “This investment will be made in the next 5 to 7 years,” said Pawan Munjal, president of the company.
He said the money would be spent on research and development of alternative fuel-powered vehicle products. Hero Motors has worked as the world’s largest two-wheeler manufacturer for the past 19 years. The company exports vehicles to 40 countries. Significantly, the company has been operating as a separate company since the end of Japan’s partnership with Honda. He said the company’s new plant in Andhra Pradesh will start production this year.