Two-wheeler manufacturing giant Hero Motocorp Limited announced its association with the Junior Hockey World Cup, to be held next month, as the title sponsor.
For the past 15 days, workers at the Hero factory have been wearing black arm-bands and abstaining from tea within the premises.
"We are disengaging from the joint venture, but the project (to manufacture CVs) will continue to exist and be run by Daimler. The reason for the move is the current economic slowdown and we will not like to commit such big investment in these circumstances," said Sunil Kant Munjal, chairman, Hero Corporate Services.
Hero Honda announced on Monday the launch of its fuel-injection technology motorcycle Glamour FI, whose prices start from the range of Rs 49,990.
To sell its 26 per cent stake to the Munjals for $1.2 billion.
Buoyed by growing sales and good monsoon, India's biggest motorcycle maker Hero Honda Motors is again considering setting up a third plant.
Ruling out setting up its third plant in the near future, India's biggest motorcycle maker Hero Honda said on Thursday that production capacity was sufficient to clock double digit growth this fiscal.
India's largest motorcycle firm Hero Motors said on Wednesday that it has tied up with Europe's second largest producer of motorcycles and scooters, Aprilia of Italy.
Hero promoters, the Munjals, have an agreement for sourcing technology and two-wheeler models from Honda till 2014.
India's largest motorcycle maker, Hero Honda Motors Ltd, launched its cheapest 100 cc motorbike yet on Wednesday, hoping to blunt competition from main rival Bajaj Auto Ltd.
Daimler, world's largest manufacturer of commercial vehicles, had reached an understanding in December 2007 for establishment of a joint venture with Munjal family-promoted Hero group, a leading Indian business house with presence in automotive manufacturing, auto parts and services sector.
Johnson, 56, a known cycling enthusiast, was seen riding on a Hero Viking Pro bike to Canalside Heritage Centre at Beeston in Nottingham, central England, on Tuesday when he unveiled plans for thousands of miles of new protected bike lanes, cycle training for everyone and bikes available on prescription as part of a new fitness strategy.
The country's largest bike maker, Hero Honda, on Thursday said the launch of the Rs 1 lakh car 'Nano' will not have any impact on the two-wheeler industry.
The company's operations are slated to commence in Burkina Faso and Ivory Coast next week.
The group also said it will raise fund from private equity firms, including Bain Capital and Lathe Investment, estimated to be around Rs 4,500 crore (Rs 45 billion) to finance its buyout by selling stake in Hero Investments Private Limited (HIPL).
We will continue with the same pace of product launches as we maintained in the past.
Hero Honda Motors, India's biggest motorcycle maker, on Wednesday said sales grew 31.5 per cent at 1,91,635 units in August 2004 over 1,45,730 units in the same month last year.
The plant, which would be functional in 2010, would produce up to 70,000 trucks in its initial phase of operation. The company said it plans to export from the plant to markets whose product requirements are similar to those of the Indian market. The investment plan is valued at about Rs 4,500 crore (Rs 45 billion).
Hero Sure helps the customer get the best price for his vehicle on the basis of a transparent evaluation process.
Hero Honda, the world's largest two-wheeler company, is scouting for a partner for its proposed foray into the four-wheeler segment.
Hero MotoCorp sold 254,813 Splendors, about 4,000 more than the 250,681 Activas sold by its rival Honda Motorcycles and Scooters India.
In what may pave the way for Honda Motor's exit from Hero Honda, their joint venture with India's Hero Group, the latter has agreed to royalty payments of eight per cent of overall sales per annum to the Japanese automaker in return for a technology makeover and a stake sale.
Hero Honda Motors Ltd on Wednesday reported a 20 per cent growth in net profit for the quarter ended June 2004 at Rs 190 crore against Rs 158 crore in the corresponding period last year, buoyed by a 33 per cent surge in motorcycle sales volume.
India's largest motorcycle maker Hero Honda Motors Ltd said on Thursday it posted a net profit of Rs 581 crore (Rs 5.81 billion) for the year ended March 31.
Bike market leader Hero Honda has chalked out a Rs 320 crore (Rs 3.2 billion) investment plan for 2006, which includes about Rs 250 crore (Rs 2.5 billion) for setting up a third plant, Pawan Kant Munjal, managing director said.\n
The wheels turn for bicycles, as manufacturers go back to the basics. After motorised two-wheelers overtook cycle sales in the country, manufacturers are focusing on commuter segment again and reviving entry-level cycles.
A century-old European bicycle brand gets a makeover under its new Indian owner. But is there room for yet another premium commuter bike?
'I'm tempted to say that he's in a better place now, but I'm quite sure he's not.' 'There was no better place for him than the basketball court, and now he'll never set foot on one again. Because he's gone,' says Dhruv Munjal.
Tata Sons chairman Natarajan Chandrasekaran was paid Rs. 113 crore as remuneration for 2022-23 (FY23), including Rs. 100 crore as commission on profit. Chandrasekaran, 60, often referred to as Chandra, received a remuneration of Rs. 109 crore in 2021-22 (FY22). With this, Chandra has emerged as one of the highest-paid chief executive officers (CEO) in Corporate India for FY23.
Mirroring the increase in the earnings of their companies, the chief executives and promoters of India's top listed firms gained handsomely from the boom last financial year. Their remuneration includes salaries, perquisites or perks, and profit-linked commissions.
"The two-wheeler industry is one of the very few industries which has witnessed a degrowth during the last fiscal due to lack of funding options in rural areas," Hero Honda Managing Director Pawan Munjal said on the sidelines of Hero Mindmine Summit.
With a million-odd electric vehicles (EVs) - two-wheelers, e-rickshaws, buses and passenger cars - expected to hit the road this calendar year, the shift from gasoline-powered vehicles has become irreversible. Now the question is whether the supply chain is ready for this shift. Key components - the high-powered lithium-ion battery and the cells which go with it, the electric motor, and the electronics powered by chips - account for nearly 60 per cent of the cost of an EV.
Since the Covid pandemic, bicycle sales have surged, orders are pouring in, and stores are already feeling a shortage. 'I have not seen this kind of excitement around bicycles and you are talking to a 57-year-old man,' said Pankaj M Munjal, chairman and managing director, Hero Motors Company (HMC), the largest Indian bicycle producer;
'It is going to be extremely rapid and anybody who is not there, be it investor, manufacturer, supplier, will miss out.'
EV players suggest a reduction in the goods and services tax on batteries from 18 to 5 per cent as it would help push demand.
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