Auto Expo 2012: Hero reveals hybrid scooter Leap
“We expect a growth of 18 per cent in the two wheeler segment,” Pawan Munjal, MD and CEO of Hero Moto Corp told NDTV Profit. Leap has been fully developed by Hero MotoCorp. There has been no involvement on part of Honda, the company said.
Two-wheeler maker Hero Motocorp unveiled its first hybrid scooter – Leap at Auto Expo 2012 in Delhi on Friday. It has been fully developed by Hero MotoCorp. There has been no involvement on part of Honda, the company said.
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Pawan Munjal, MD and CEO, Hero Moto Corp told NDTV Profit that the company has developed the Hero Leap with technological support from an international consultant. In December 2010, the company parted ways with the Japanese auto giant Honda. The Munjal family bought out the Japanese partner.
“We expect a growth of 18 per cent in the two wheeler segment,” Pawan Munjal said.
Munjal said that the technology could be used to launch new products in future. However, he said that the product will not be launched any time soon.
"We have to work a lot for launching it commercially. So it will take some time."
The company is also looking to export Leap to countries in Africa and Latin America, Munjal also told NDTV profit. South East Asia is another market that the company wants to tap. Its exports have risen 24 per cent in December 2011.
“We sold over 6 million units in 2011, highest by any motorcycle manufacturer,” he had told reporters in New Delhi on the eve of Auto Expo 2012. Rural markets contribute about 45 per cent of that number.
Hero Motocorp had also launched a scooter and two bikes on Wednesday. The three new models include Ignitor, a 125 cc bike, aimed at college goers and early jobbers while Maestro, 110 cc scooter, positioned exclusively at males. Passion xpro 110 cc model is targeted at the deluxe segment. However, these bikes are not meant for export.
Anil Dua, senior VP for marketing and sales at Hero MotoCorp said that the three Ignitor, Maestro and Passion xpro models reflect the technological support from Honda. Although the joint venture with Honda was dissolved, the company had a technology support deal.
See photo gallery: What was unveiled at Auto Expo 2012
Over the past one month, Hero MotoCorp shares fell 13.7 per cent while the BSE Sensex shed only 5 per cent value.
Analysts believe that with the launch of new products, the company could face a pressure on profits due to an increase in expenditure.
(With input from PTI)