Hero MotoCorp to debut in Philippines' market after pact with Terrafirma Motors
Oct 26, 2022
New Delhi [India]/Manila [Philippines], October 26 : One of the world's largest motorcycle manufacturers, Hero MotoCorp, on Wednesday said it is set to commence its operations in the Philippines. The company said it was partnering with Terrafirma Motors Corporation (TMC), a part of the Columbian Group of Companies, to bring motorcycles to the country.
As part of the partnership, TMC will be the exclusive assembler and distributor of Hero MotoCorp motorcycles in the Philippines. The company will set up an assembly facility of 29,000 sq m in its existing latest principal manufacturing facility situated in Laguna City and start its operations in the second half of fiscal year 2024.
Sanjay Bhan, Head of Global Business, Hero MotoCorp, 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."
He also said the trust and technology prowess of Hero MotoCorp combined with TMC's automotive expertise and network in the Philippines would definitely create an impact and strengthen our footprint in this key market.
Bienvenido Sanvictores Santos, Chairman, Terrafirma Motors Corporation, 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. This is a coming together of two visionary companies and the new partnership will lead us to new horizons by enabling us to deliver modern, technologically superior and eco-friendly mobility solutions to our customers here."
Earlier this month, Hero MotoCorp launched its first electric vehicle (EV), the VIDA V1 in India. Bringing in an era of sustainability and clean mobility, VIDA V1 - the new age fully -- integrated EV is designed and developed at Hero's latest R&D hubs, the centre of innovation and technology (CIT) in Jaipur and the Hero Tech Centre Germany near Munich.
