Annual General Meeting

Chairman's speech, Hero Motocorp Ltd. 2012

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To sustain our efforts to emerge as a global player, we are in the process of setting up a new International Business organisation. As we had promised in our message last year, we have taken rapid strides to create a technology platform and an R&D ecosystem. Necessary blueprint has been finalised to bring into reality one of the India's largest Auto Industry Technology & Integrated R&D Centre near Jaipur.

This facility once established would have labs for components, engine and complete vehicle testing more specifically variety of test tracks, mulating the actual road conditions prevailing in India and other parts of the world, apart from the requisite infrastructure facilities. Moreover an advanced design studio with the most up-to-date software for design and simulation would also be created.

The Company has tied up with AVL, Austria, a global leader in engine design and development, to develop different categories of engines and US motor biking firm, EBR.

As stated in my earlier speech, the Company proposes to raise the bar by bringing in technologically-advanced twowheelers with value-added features in the financial year 2013. In this direction and to be able to meet growing demand for the products, the Company has initiated to enhance the capacity at its three existing plants. A state-of-the-art Parts Centre would soon be established to cater to the rising volumes. The existing distribution network would be strengthened with these initiatives in pipeline.

True to Charles Darwin's Theory of Evolution, that it's not always the strongest species that survive, nor the most intelligent, but the ones who are the most receptive to change. Having tasted success in our first full year as Hero, I would like to take inspiration from the power of these words as we soar into the future.