Hero global design centre in Manchester

New Delhi, January 27

Hero Cycles today opened a global design centre in Manchester, UK, at an investment of £2 million (about Rs 17 crore) to develop next generation bikes based on latest technology.

The company is working on increasing its revenue share from overseas markets from around 20% currently to 60% by 2018. It did not provide the revenue figures.

“As we focus on global expansion plans, we need to harness global talent and have a design centre that is located closer to some of our targeted markets,” Hero Cycles CMD Pankaj Munjal said.

With major expansion plans in Europe, the Global Design Centre (GDC) will help the company produce technology and design to cater to differentiated products to suit the needs of different European markets, he added.

The bikes designed at the GDC will be made at Hero’s plant in Sri Lanka and exported to Europe, Africa and India. — PTI