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www.PowersportsBusiness.com NEWS Powersports Business • January 26, 2015 • 7 India-based OEM announces expansion plans at EICMA Hero MotorCorp Ltd, the world's largest manu- facturer of two-wheelers, announced at EICMA in Milan, Italy, that it plans to enter the U.S. and Brazilian markets in 2016. Also, Hero, based in India, will begin selling in Europe by the end of 2015. "Today, one of out every 10 bikes sold globally is a Hero bike and every second two- wheeler sold in India is from Hero," said Pawan Munjal, vice chairman, chief executive officer and managing director of Hero MotorCorp Ltd. "This places us in a unique position to expand our business into new markets across conti- nents. Having already stamped our presence in Asia, Africa, and Latin and Central America, we are now looking at stepping into the European market by the end of 2015 with our hybrid scooter Leap making its debut here. While we are looking for potential partners, we are also open to M&A opportunities to be able to make quick inroads in these markets. This is in line with our vision of making Hero a truly global brand in its range of quality products, scale of operations and geographical footprint." In its first phase of entering the European market, Hero will be launching its products in Italy, Spain and France, with the U.K. and Germany to follow. Following the launch of the Leap hybrid scooter, Hero will launch addi- tional scooters and motorcycles. New Delhi-based Hero recently announced an investment of $800 million in building capacity across the globe in the next few years, adding to its current presence in 20 countries. The announcement in Milan of the Euro- pean expansion was appropriate due to two of Hero's strategic partners being based in Bolo- gna — Engines Engineering (technology) and Magneti Marelli (fuel injection). Hero is setting up manufacturing plants in Colombia and Bangladesh that are expected to go online in 2015-16. In partnership with its local distributors, Hero has set up assembly plants in Kenya, Tanzania and Uganda. In 2013, Hero became the fastest company in the world to produce 50 million two-wheel- ers. With four plants in India and an additional two underway, the company will be able to produce 7.5 million motorcycles and scoot- ers annually in that country alone. Add the overseas facilities, and that total becomes more than 12 million. By 2020, the company plans to be in 50 countries with 20 assembly facilities worldwide. PSB Hero Motocorp targets 2016 for U.S. V-TWIN EXPO CONTINUED FROM COVER "The dealer attendees and exhibitors are upbeat," Betlach said. "We're still doing the same things we've always done with the show. It's not about gimmicks. It's just a good, straightforward wholesale show. And it's looking good. Everyone that I've been talking to in the V-twin world has been very up about their business." Attendees are in for an extra treat this year with the announcement that a special showing of "On Any Sunday: The Next Chapter" will be provided. Attendees are invited to view the movie at 6 p.m. Saturday, Feb. 7 at the Duke Energy Convention Center. The floorplan will be familiar to attend- ees, with Drag Specialties, Biker's Choice and, making its debut, HardDrive Parts, among the lineup of vendors. "The reception for the show is good this year, for sure as good as last year," Betlach said. "Our exhibitors and dealer registrations are right on par with last year. We're looking good. I think people are really doing better this year. And I'm getting a lot of positive comments about the show staying the way it is." PSB Hero showcased its all-new HX 250R sport bike for the Indian market at EICMA, fea- turing the company's first in-house built motor following its separation from Honda.