"It has just been over two years since we commenced our solo journey, and in such a short span of time, we have made significant upgradation of our existing line-up, incorporating next generation technology and features," said Pawan Munjal, managing director and chief executive, Hero MotoCorp.
"As the market leader, this is also a reiteration of our capability to develop indigenous technologies."
The company unveiled new models of HF Dawn, HF Deluxe, Splendor Pro, Super Splendor, Passion, HF Deluxe Eco, Glamour, Glamour FI, Pleasure and Xtreme which incorporates the company's new innovative features and designs.
The two-wheeler manufacturer is trying to spur up its in-house technology development at its research and development (R and D) centre and has also tied up with three international companies for technology alliances.
The company said that some of the new models feature latest innovative technology developed in-house by the two-wheeler manufacturer like i3S technology (idle stop and start system) which shuts the engine when idling and turns it on when needed.
Other innovative features which will appear in some new models include integrated braking system (IBS) for which the company has already filed for patent. The company will also file product featuring electronic immobiliser security device.
Hero MotoCorp can use erstwhile partner Honda's technology inputs till 2014. Both the companies ended there 27-year-old joint venture two years ago.
According to Munjal, the company also plans to enter markets in Turkey and Egypt soon. The two-wheeler major is currently on an international expansion drive after ending its joint venture with Honda.
In August, the company entered Peru and announced plans to expand in the continent to Ecuador. In July, the company launched its operations in Kenya, where it has set up its first international assembly unit.
In the short-term, the company plans to launch its brand of products in 10 more international markets by the end of this year.
In the long term, the company envisions an annual production capacity of 12 million units per year manufactured in over 20 facilities across the globe.
The company also aims to have a turnover of Rs.60,000 crore per annum by 2020 from last fiscal's turnover of around Rs.25,000 crore.
--IANS (Posted on 10-10-2013)