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Hero Motors to invest in automotive transmissions

BL reported that Hero Motors said that it will invest INR 100 crore in association with Austrian firm BRP Powertrain for manufacturing automotive transmissions in India.

The companies have signed a five year MoU for manufacturing the transmissions at Hero Motors' Gaziabad facility with an installed capacity of 100000 units per annum.

Mr Pankaj Munjal MD of Hero Motors told reporters that "This MoU is significant step in expanding the existing long - term strategic alliance with BRP Powertrain. We will invest INR 100 crore to execute the contract."

He added that under the MoU the company would manufacture transmissions worth USD 250 million in the next five years.

Mr Munjal said that Hero Motors had already invested INR 45 crore with BRP Powertrain for setting up the manufacturing base for producing transmissions in the last two years.

(Source : Business Line)

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