Hero MotoCorp forayed into Nepal in 2014 and, over the years, has established itself as a leading player in the country, with overwhelming response for its brands such as the Super Splendor and Xpulse 200 motorcycles. Nepal is one of the key markets for the company in Asia, said the company in a press release on Monday.
The Chaudhary Group (CG), a prominent leader in Nepal’s business landscape, operates an expansive network of over 160 companies and 123 brands worldwide, backed by a dedicated team of over 15,000 workers. The group's operations span the fast-moving consumer goods (FMCG) industry, financial services, energy and infrastructure development, hospitality sector, and cutting-edge electronics sector.
Hero MotoCorp and CG Motors will set up a state-of-the-art greenfield facility for assembling products in Nepal. The facility will be located in Nawalpur district and have a capacity of 75,000 units per annum. Operations will begin in March 2024.
Commenting on the collaboration, Sanjay Bhan, head – of global business at Hero MotoCorp, said, "We are excited to partner with the Chaudhary Group in Nepal. With their vast expertise and diversified business knowledge, Chaudhary Group will provide an enormous fillip to our operations here. Nepal is an extremely important market for us and it is our continuous endeavour to provide the best products, services and experiences to our customers here."
"In the near future, we plan to further strengthen our operations across the country and introduce a slew of new products that will excite the market. We are confident of expanding our presence in the market with our new partner and look forward to solidifying this collaboration," he added.
Nirvana Chaudhary, managing director, Chaudhary Group said, "We are thrilled with our collaboration with Hero MotoCorp, who are globally recognised as the leading manufacturer of motorcycles and scooters. This partnership marks CG Motors' ambitious reentry into the automotive market, leveraging Hero MotoCorp's renowned products and services."
"Our deep understanding of the local market dynamics will be instrumental in driving business growth. We look forward to the establishment of a cutting-edge assembly unit, confident that this alliance will significantly strengthen and redefine the brand's presence in the country," Chaudhary added.
