Hero MotoCorp surpassed the 100 million production mark and rolled out the 100 millionth bike, the Xtreme 160R from its Haridwar plant. To find out more about the achievement, CNBC-TV18 caught up with Chairman Pawan Munjal who said that the company's vision is to become the future of mobility.
"The new vision of the company going forward is 'be the future of mobility'. The mission behind the vision is to create, collaborate, and inspire. That is how we are going to get to our vision," Munjal said.
When asked about the company's partnership with Harley Davidson, he said, "Hero is already on a journey towards premiumisation. Hero has been rolling out various new products and with this objective our partnership with Harley Davidson is a solid step in that direction."
Munjal added that Hero will have a range of high capacity engines to drive volumes. "In the premium segment, the volumes are not like what we have in the 110cc or 125cc. Yet, among the premium segment bike, there will be some which will have slightly higher volumes and there will be others which will have moderate volumes. We would want to be present in both segments," he said.
He elaborated that Hero will look at launching 10 different products every year and said that the company has increased its market share in the commuter segment and will continue to drive volumes.
On the electric vehicles (EVs) front, he revealed that Hero will soon bring an EV product in the market. "There is a very strong focus on electrification and that is the way forward. We are vigorously working on it and sooner rather than later, we will bring in our products in market."
Munjal highlighted that the government needs to look at reducing GST rates and added that 28 percent GST was too high.
"In terms of the two wheeler industry, what has to be done is the level of GST. For somebody like Hero or many other players in the two wheeler industry where we are selling our products to the common man, 28 percent is a very high rate. This must be brought down," he explained.For the full interview, watch video.