Hero Cycles Ltd launches aluminium cycle plant

Hero Cycles Ltd launches Hero Cycles Aluminium Cycle Plant in Ghaziabad. The company will share plans to upgrade its entire cycle manufacturing to aluminium, ushering in a new era of techinically advanced cycles in India.

Hero Cycles Limited, the largest manufacture of cycles in the world, has produced a total of 5.09 lakh vehicles in the month of July. Reaching this landmark target is a step forward in the company’s endeavor to double its sales to 10 million by 2018 while it is targeting sales of 6 million in the current year.

With daily production of 19,000 cycles per day, Hero Cycles is the largest producer of cycles in the world. The company constantly endeavors to expanding manufacturing processes, using the latest technology and is currently concentrating on the high end segment. Increased production and augmented demand has led to company to increase its market share to 43% in the organized sector and 39% in the unorganized sector.

Their premium brand of cycles includes Urban Trail and Sprint. The company has announced their intention to set up two new plants in India by 2014. Investment to the tune of INR 200 crores have been set aside for these new plants, one of which will be in Bihar while the other plant is to be set up in Mangli in Ludhiana. These plants will have installed capacity of 1 million cycles per annum.