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This story is from October 20, 2006
Hero Honda to invest Rs 800cr
Both Bajaj Auto and TVS Motors are also setting up new plants to meet the growing demand for two-wheelers.
In the first phase, the firm will set up a greenfield plant in Haridwar. This plant, which will have a capacity of half a million units, will be set up by mid-2007. Along with the ancillaries, HHML will bring in an investment of around Rs 1,900 crore over the next three years at its new Haridwar facility.
"The initial investment in the new plant will be Rs 400 crore, which will take the capacity up by half a million units.
The initial plans are to make Splendor Plus and Passion Plus at the new facility, and possibly make the other models too once the capacity is ramped up," said Hero Honda MD Pawan Munjal.
This will be HHML's third plant in the country that will take its total capacity to 4.4 million units by mid next calendar. In addition, it is planning another greenfield facility in Rajasthan.
Though HHML is a clear market leader with nearly 45% share in the two-wheeler market, the company has off late been under some pressure due to slipping market share, mainly to Bajaj Auto.
Both Bajaj Auto and TVS Motors are also setting up new plants to meet the growing demand for two-wheelers.
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