One of the world’s largest two-wheeler manufacturers, Hero MotoCorp, on Wednesday announced to commence its operations in the Philippines.
The company informed that it has partnered with Terrafirma Motors Corporation (TMC), a part of the Columbian Group of Companies, to bring motorcycles to the country.
TMC will be the exclusive assembler and distributor of Hero MotoCorp motorcycles in the Philippines, the company said in a regulatory filing. It will provide an assembly facility of 29,000 sq m in its existing latest principal manufacturing facility situated in Laguna City and starts its operations in the second half of the fiscal year 2024.
“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,” said Sanjay Bhan, Head of Global Business, Hero MotoCorp.
He further added, “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.”
Currently, Hero MotoCorp has a presence in 43 countries in Asia, Africa, the Middle East, and South and Central America. It has eight manufacturing facilities, including six in India, and one each in Colombia and Bangladesh.