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Hero Cycles pull out Rs 900 cr business plan from China

Wednesday, 08 Jul 2020
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Hero Cycles is moving towards self-reliance and will withdraw around Rs 900 crore trade deals with China in a phased manner. 
 
The company used to buy from various parts of the world including China and import vehicles, bicycles and high-end bicycles. The company is now designing them in its German R&D facility. Detailed engineering, componentry and frame are being done by the company and are localising them. 
 
The company’s daughter company in England had 600 percent growth and is making record sales.

 

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