Gurgaon: Hero MotoCorp, India's largest two -wheeler maker on Thursday unveiled 15 new products that will hit the market during the six months of the current fiscal.
The company also said it will enter new markets of Turkey and Egypt in the next few months, while it is also working on a low cost bike for the entry level segment.
The new products showcased include refreshed top-end bike Karizma R, ZMR, Splendor I-Smart and new variant of scooter Pleasure.
"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 up gradation of our existing line-up, incorporating next generation technology and features. This is also a reiteration of our capability to develop indigenous technologies...," Hero MotoCorp Managing Director and CEO Pawan Munjal told reporters here.
Last month, Hero MotoCorp had announced that it would introduce over 15 new offerings by March next year as it seeks to consolidate the leadership position.
The offerings include a refreshed version of its high-end bike Karizma. This is Hero's first commercial production model in which US-based partner Erik Buell Racing (EBR) has played a major development role since their tie-up.
A majority of the new offerings will hit the market in the ongoing October-December quarter as the company looks to cash in on the festive season in India.
Apart from refresh of existing models, the others will have innovations developed by the company's R&D team, for which patents have been sought.
Munjal said that when Hero MotoCorp announced its new identity in 2011, 50 new products were promised in three years.
"Today we have 15, so there are 35 more to come in the coming years," he added.
On the development of a low-cost bike, Munjal said: "In our R&D we are always working to bring the cost down. We are working on a bike that will be less expensive than our current entry level bike HF Dawn but not drastically cheaper."
He declined to share further details of the bike. HF Dawn is currently priced at Rs 37,000.
Hero MotoCorp had said its first bike without the technology of erstwhile partner Honda would hit the market by 2014.
First Published: Thursday, October 10, 2013, 15:30