History/Milestones
The success of the Hero Group lies in the determination and foresight of the first generation Munjal brothers, who shared their vision with their workers and led the Group to a position, where its name has become synonymous with top-quality two-wheeler companies.
The flame was kindled by the Munjal brothers in 1956 with the flagship company Hero Cycles. Mr. Satyanand Munjal, Mr. Brijmohan Lall Munjal and Mr. O.P. Munjal continue to carry the torch and are actively involved in the routine operations of the Hero Group.
The saga is being continued with the same zeal by the second and third generations of the family and by the large working force of the Hero Group. The spirit of enterprise which dominates the progress of the Group is characteristic of the land where it all began – the City of Ludhiana in Punjab – home to some of India’s finest workers and entrepreneurs.
The Hero Group is a thriving example of three generations of a family working and striving together to ensure quality, satisfaction and extensive growth.
Milestones
1956: Hero Cycles Limited was established.
1961: Rockman Cycles Industries Limited was established which, today, is the largest manufacturer of bicycle chains and hubs.
1963: Pioneered bicycle exports from India – a foray into the international market.
1971: Highway Cycles was set up to meet the demands of Hero Cycles. Today, it is the largest manufacturer of single-speed and multi-speed freewheels.
1975: Hero Cycles Limited became the Largest Manufacturer of Bicycles in India.
1978: Majestic Auto Limited was established and the Hero Majestic Moped was introduced.
1981: Munjal Castings was established.
1984: Hero Honda Motors Limited was established as a joint venture with Honda Motors of Japan, to manufacture motorcycles.
1985: Munjal Showa Limited was established to manufacture shock absorbers and struts and today, it is among the top two shock absorber manufacturing companies in India. In the same year, the 100cc Hero Honda Motorcycle arrived and by 1988, it was the No. 1 among all motorcycles in India.
1986: Hero Cycles Limited entered the Guinness Book of Records as the Largest Bicycle Manufacturer in the World.
1987: Hero Motors, a division of Majestic Auto Limited, was set up in collaboration with Steyr Daimler Puch of Austria. Gujarat Cycles Limited, now known as Munjal Auto Industries Limited, was also established to manufacture and export state-of-the-art bicycles and allied products in its fully automated plant at Waghodia. Sunbeam Auto Limited, earlier a unit of Highway Cycles Limited, was established as an ancillary to Hero Honda. It is the largest die casting plant in India.
1988: "Hero Puch" from Hero Motors Limited was introduced. This revolutionary machine immediately set new records of petrol efficiency and usable power in 50- 65cc machines.
1990: Hero Cold Rolling Division was established and is now one of the most modern steel cold rolling plants.
1991: Hero Honda received National Productivity Council's Award. Out of 200 contenders, the company was chosen for the prestigious Economic Times-Harvard Business School Association Award.
1992: Munjal Showa Limited received National Safety Award.
1993: Hero Exports was established as the International Trading Division for Group and non-Group products.
1995: Hero Corporate Services Limited was established as the service segment for the Hero Group Companies, ancillaries, suppliers, dealers and other associates.
1996: Hero Winner, a large-wheeled scooter, was introduced by Hero Motors Limited with a choice of 50cc and 75cc engines. Munjal Showa Limited received British Council's National Safety Award.
1998: Hero Briggs and Stratton Auto Private Limited were set up to produce four-stroke two-wheeler engines in various cubic capacities. Munjal Auto Components was established to manufacture gear shafts and gear blanks for motorcycles.
2000: Hero Honda emerged as the market leader in motorcycles, with sales of over a million motorcycles and a strong market share of 47%. The group diversified into IT and IT Enabled Services (ITES) through its service segment – Hero Corporate Services Limited.
2001: Hero Global Design was established to offer engineering services in CAD/CAM/CAE related to New Product Development, Design, Engineering and Manufacturing.
2002: Hero Cycles tied up with the National Bicycle Industries, a part of the Matsushita Group, to manufacture high-end bicycles. In the same year, Fastener World and Easy Bill came into being. Easy Bill was established to offer utility bill collection & retail services. The Hero Group also got into a strategic tie-up with LiveBridge Inc., USA.
2004: Tie-up with Bombardier-Rotax GmbH for scooter engines.
2004: Tie-up with Aprilia Scooters, Italy.
2004: Hero Honda continued as the World's largest manufacturer of two-wheelers with annual sales volume of 2.07 million motorcycles and a market share of 48%.
2004: Retail Insurance business was established.
