Hero MotoCorp Limited has officially formed a wholly owned subsidiary in Brazil, named Hero MotoCorp do Brasil Ltda. This move aligns with the company’s international expansion strategy and follows a resolution passed by its Board of Directors on May 8, 2024.
The newly formed entity is currently not operational and has no revenue. It has been created to engage in the manufacturing and distribution of two-wheeler vehicles, along with associated parts and accessories. The venture is fully in line with Hero MotoCorp’s core business focus.
As a wholly owned subsidiary, Hero MotoCorp will maintain 100% ownership and full control. Following its incorporation, the new entity will be classified as a related party. The promoters, promoter group, and group companies have no direct interest in this transaction. This initiative does not involve any acquisition. The subsidiary is being established in compliance with the necessary legal and regulatory approvals in Brazil. Investment into the entity will be phased over time.
Hero MotoCorp had previously announced its intent to establish the Brazilian subsidiary during the May 8, 2024 board meeting, which also covered other significant business updates. At the same meeting, the Board approved the audited financial statements—both standalone and consolidated—for the year ending March 31, 2024. The Board also recommended a final dividend of ₹40 per equity share (2,000%), which is subject to approval by shareholders at the upcoming 41st Annual General Meeting (AGM).
If approved, the dividend will be disbursed within 30 days following the AGM. To facilitate this, the Register of Members and Share Transfer Books will be closed from August 2 to August 12, 2024 (both days inclusive). The Board meeting began at 11:20 am and concluded at 2:35 pm on May 8, 2024.
Hero MotoCorp, headquartered in New Delhi, India, has been the world’s largest manufacturer of motorcycles and scooters for an impressive 24 consecutive years. With a presence in 48 countries across Asia, Africa, and Latin America, the company proudly serves a customer base of over 120 million riders.
Its electric mobility division, VIDA, powered by Hero, leads the charge in innovation and sustainability, reinforcing the brand’s commitment to a cleaner future. Hero MotoCorp also holds strategic collaborations with Harley-Davidson and Zero Motorcycles, and has invested in leading EV startups like Ather Energy and Euler Motors. Hero MotoCorp operates eight state-of-the-art manufacturing facilities—six in India, one in Colombia, and one in Bangladesh—along with two advanced R&D centers: the Centre for Innovation and Technology (CIT) in India, and the Tech Centre Germany (TCG) near Munich.
Notably, Hero MotoCorp is the only Indian two-wheeler company listed on the prestigious Dow Jones Sustainability Index (DJSI), a testament to its global standards in sustainability and governance. Beyond mobility, the company is a passionate promoter of sports worldwide—supporting golf, football, field hockey, and cricket. Its Hero MotoSports Team Rally represents India on the world rally racing stage, while golfing legend Tiger Woods serves as Hero’s Global Corporate Partner.
