| Type | Private company |
|---|---|
| Industry | Bicycles |
| Founded | 1956 |
| Headquarters | Ludhiana |
| Key people | Brijmohan Lal Munjal |
| Revenue | 1,650 crore (US$313.5 million) 2010-2011[1] |
| Website | www.herocycles.com |
Hero Cycles Limited, based in Ludhiana Punjab, India, is the world's largest bicycle[2] and related products manufacturing company of India.[3]
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Hero group was established by the four Munjal brothers, namely, Satyanand Munjal, Om Prakash Munjal. Late Dayanand Munjal and Late Raman Kant Munjal. The brothers hailed from a small town called Kamalia, now in Pakistan. The brothers established a business of bicycle spare parts in the year 1944 in Amritsar. After partition and independence of India, the brothers moved to Ludhiana and started a bicycle unit called Hero Cycles in 1956. By 1975, Hero cycles became the largest bicycle manufacturer in India. In 1984, Hero group joined Honda Motors of Japan to create Hero Honda Motors Limited which soon became one of the market leader in motor-cycle sales in India. In 1986 Hero Cycles Limited entered the Guinness Books of World Records as the largest bicycle manufacturer in the world. By the year 2004, Hero Honda became the world' largest manufacturer of two-wheelers with over 48% market share in India. In year 2006, Hero Honda entered the scooter production with launch of its new model - Pleasure.[4]