Gilera Motors Argentina (GMA) will make new investments to rapidly expand all business operations for Hero MotoCorp's products. This is expected to generate nearly 500 new jobs in the region, the company said in a regulatory filing.
Further, GMA has also expanded its plant in Carlos Spegazzini province of Buenos Aires to completely renovate its infrastructure and adapt the latest automotive technologies that are incorporated in Hero MotoCorp products, it added.
''We are happy to rapidly expand our operations in Argentina. We have already made significant progress since announcing our new association with Gilera Motors Argentina in October,'' Hero MotoCorp Head - Global Business Sanjay Bhan said.
The company has already inaugurated a flagship store and is focussed on scaling up sales and service across the country, he added.
GMA is one of the leading companies in the motor vehicle sector in Argentina and one of the most experienced motorcycle manufacturers in Latin America.
Gilera Motors Argentina Director Ramiro Di Liscia said, ''our association will have a multiplier effect on the local economy, generating investment and new direct and indirect jobs. We are adding nearly 500 new jobs already and expect more benefits to the local economy as we further expand our operations in the future.'' The new investment and new facilities that Gilera Motors Argentina is making will boost the industry in the country. Customers will also benefit from the latest technologies of Hero MotoCorp products such as the Xpulse 200 and Hunk 160R, which comply with Euro 3 and Euro 4 standards, GMA Vice-President Omar Caruso said.