Hero MotoCorp Limited announced a cumulative investment of over Rs 3,200 crore in Andhra Pradesh and broke ground for its second Global Parts Centre in Tirupati with an investment of over Rs 750 crore. The facility will serve as a strategic nerve centre for Hero MotoCorp's domestic and international spare parts operations.
100% of Hero MotoCorp's electric vehicle portfolio is designed, engineered and manufactured at the Tirupati plant. The plant's annual production capacity is expected to scale to 1.2-1.5 million units with this investment.
The expansion is expected to generate around 4,000 employment opportunities, aligning with the national vision of Viksit Bharat 2047 and the Government of Andhra Pradesh's SwarnAndhra vision. The investment aims to transform Tirupati into a manufacturing and electric mobility hub.
Hero MotoCorp launched the Dr. Brijmohan Lall Munjal Heroes of Tomorrow Scholarship program in partnership with the Government of Andhra Pradesh. The initiative will provide full tuition coverage for meritorious students pursuing engineering degrees at state IIITs across 28 districts.
Hero MotoCorp will deploy VIDA electric scooters and provide specialized road safety training to women police personnel across Tirupati district. The foundation stone ceremony was held on the 103rd birth anniversary of Dr. Brijmohan Lall Munjal, Founder and Chairman Emeritus of Hero MotoCorp.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.