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Hero Moto readying plan to enter new global markets

Munjal said that the inputs from consultancy McKinsey are being used for revising strategies for overseas markets towards enabling the automaker improve its market share in those geographies.

, ET Bureau|
Mar 27, 2018, 09.53 AM IST
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Apart from reviving electric mobility plan, the automaker is preparing strategies for venture into new global markets, expanding capacities to meet demand both through organic and mergers and acquisitions.
HYDERABAD: Upbeat on the outlook for two-wheelers across the world, Hero MotoCorp, the world’s largest two-wheeler maker, is reworking its strategy for overseas markets with key inputs from global consultancy McKinsey as well as drawing from its experiences in Nigeria and Columbia following geopolitical constraints.

Apart from reviving electric mobility plan, the automaker is preparing strategies for venture into new global markets, expanding capacities to meet demand both through organic and mergers and acquisitions, while also gunning for higher share in scooters and premium products.

Speaking to a small group of journalists on the sidelines of a foundation stone laying ceremony for its eighth global manufacturing facility at Chittoor in Andhra Pradesh on Friday, chairman Pawan Munjal elaborated multi-fold strategies to grab higher market share, both domestic and overseas.

“McKinsey is working with us to improve our efficiencies and get bigger sales in new geographies that we have gone to. Specific to Columbia and Nigeria, where after our entry into those markets because of geopolitical reasons and oil, those markets have come down. So, being a new entrant into those markets, we needed much bigger initiatives and bring in new innovative ideas to grab more market share,” said Munjal.

He said that the inputs from consultancy McKinsey are being used for revising strategies for overseas markets towards enabling the automaker improve its market share in those geographies.
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