Hero MotoCorp partners with Terrafirma Motors to foray into Philippines
Hero MotoCorp, an Indian multinational motorcycle and scooter manufacturer, has partnered with Terrafirma Motors (TMC), a part of the Columbian Group of Companies, to foray into the Southeast-Asian market.
As part of the partnership and its expansion plans, Hero MotoCorp will commence its operations in the Philippines, launching its motorcycles in the archipelagic country.
Terrafirma Motors will assemble and distribute Hero MotoCorp motorcycles in the Philippines, as per the terms of the partnership.
Sanjay Bhan — Hero MotoCorp Head of Global Business said: “In keeping with our R4 (Recalibrate, Revitalise, Revolutionise and Revive) strategy, we are always keenly exploring new opportunities in global markets.
“Our partnership with Terrafirma Motors Corporation (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 Philippines will definitely create an impact and strengthen our footprint in this key market.”
Hero MotoCorp joins forces with Terrafirma Motors to foray into Philippines. Photo courtesy of Hero MotoCorp Ltd.
Terrafirma Motors will also establish an assembly facility of 29,000 square meters at its existing main manufacturing facility located in Laguna City with operations slated to commence in the second half of fiscal year 2024.
Bienvenido Sanvictores Santos — Terrafirma Motors Chairman said: “Hero MotoCorp, the world’s largest two-wheeler manufacturer, has been the most trusted brand partner for more than 100 million customers all over the world.
“Terrafirma Motors Corporation (TMC) is a customer-centric automotive company with the vision to be the ultimate choice for value-based products and services in the Philippines.”
Spanning over 43 countries in Asia, Africa, the Middle East, and South and Central America, Hero MotoCorp operates eight production plants, including half a dozen in India, and one each in Bangladesh and Colombia.
Hero MotoCorp recently launched its first electric vehicle (EV), the VIDA V1 in India.