Bigger India
India’s Hero Cycles on The Cusp of Becoming World’s Largest Bicycle Manufacturer
With startling ambition, Hero Cycles CEO Pankaj Munjal told CI.N in September of last year that the firm is looking to take its current 5% global market share towards 8%.
Hero Cycles now lays a legitimate claim to being the world’s largest bicycle maker by volume having matched, if not bettered, Giant’s output figures.
Giant produced 6.6 million bicycles in 2014, but that figure has declined in recent years with UK managing director Ian Beasant confirming to CI.N that today’s annual output sits between 5 and 5.5 million bicycles made.
Meanwhile, Hero Cycles has this week issued a statement that claims the Indian bicycle maker now produces 19,000 bicycles per day and around 5.2 million per year. The business has significantly ramped up its investments in recent years, producing everything from budget bicycles for its domestic market to the high-end electric bicycles rolling off production lines recently.