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.