Hero MotoCorp looks to tap the Philippines market, enters partnership with TMC

27 Oct 2022 , 07:28 AM

Hero MotoCorp, a manufacturer of two-wheelers, announced on Wednesday that it has collaborated with Terrafirma Motors Corporation to assemble and distribute its vehicles in the Philippines.

The business announced in a regulatory filing that Terrafirma Motors Corporation (TMC), a member of the Columbian Group of Companies, will be the sole manufacturer and distributor of Hero MotoCorp motorcycles in the Philippines.

TMC also stated that it would build a 29,000 square metre assembly facility at its current primary manufacturing location in Laguna City and begin operations in the second part of the fiscal year 2024.

The partnership will allow TMC to “provide modern, technologically superior, and environmentally sustainable mobility solutions to our consumers here,” according to TMC Chairman Bienvenido Sanvictores Santos, who talked to ET.

Hero MotoCorp is currently present in 43 countries in South and Central America, Asia, Africa, and the Middle East. There are eight manufacturing facilities for it, with six of them in India and one each in Bangladesh and Colombia.

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