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Hero MotoCorp has officially announced that it has entered Spain's two-wheeler market in partnership with Noria Motos.
Noria Motos is a subsidiary of ONEX group and is involved in the distribution and import of motorcycles in Spain.
The deets: under the partnership, the company will launch through three models exclusively developed to suit the Spanish terrains
Noria Motos will operate in more than 30 outlets which will later expand to 50 outlets by 2026.
Zoom out: the move makes Spain the 50th country where Hero MotoCorp has its presence. It's part of the company’s broader strategy to expand into key markets in Europe. The partnership also comes at the backdrop of Hero’s recent foray into Italy.
The motorcycle market in Spain is steadily growing at the rate of 5.4% and is expected to reach a valuation of $2.31 billion by 2030. Hero Moto Corp can optimise its strong investment in R&D, wide product portfolio and high quality to compete against legacy players and become a trusted name in the Spanish market.
TechSci Research
