Hero MotoCorp, world's largest two-wheeler manufacturer, on Thursday launched its operations in Turkey, in line with its plan of reaching 50 global markets by 2020.
The company has tied up with Asya Makina of Turkey as the distributor of Hero MotoCorp range of two-wheelers in Turkey through a network of 50 outlets spread across the country.
Pawan Munjal, MD & CEO of Hero MotoCorp, launched brand 'Hero' and also introduced the 125cc motorcycle – Glamour and the 150cc bike Thriller and the 100cc scooter Pleasure, which are compatible with Euro III emission norms.
"The commencement of our operations in Turkey is a significant milestone in our overall global expansion plans. I am sure with their rich experience in this region and knowledge of the local customer, we will be able to achieve our immediate short-term goal of 5% market share in Turkey. Going forward, we will also be bringing more bikes from our wide-ranging portfolio," said Munjal.
"We are targeting to be present in as many as 50 global markets by the year 2020, with over a million unit sales coming from overseas operations. Therefore, our launch in Turkey is a significant move as part of our long-term strategy," he added.
Hero products are currently sold in Peru in Latin America; Guatemala, Honduras and El Salvador in Central America; Kenya in East Africa; Burkina Faso and Ivory Coast in West Africa; and Sri Lanka and Nepal in Asia.
The company also plans to set-up local assembly plants in Tanzania and Uganda in the future.