Hero MotoCorp extends shutdown of plants across India till May 16 – COVID-19 Impact

Two-wheeler market leader Hero MotoCorp on Sunday said it is extending the shutdown of its plants across India by another week till May 16 in view of the prevailing COVID-19 situation in the country.

The shutdown also includes the Global Parts Center (GPC) in Neemrana and R&D facility – the Centre of Innovation and Technology (CIT) in Jaipur, Hero MotoCorp said in a statement.

Last month, the company had announced temporary stopping of operations at all its six manufacturing units located at Dharuhera and Gurugram, Haryana; Chittoor in Andhra Pradesh; Haridwar in Uttarakhand; Neemrana in Rajasthan, and Halol in Gujarat with a total yearly production capacity of 90 lakh units.

“The company is continuously monitoring the situation and is ready with its business continuity plans to be able to quickly resume and scale up operations as and when the situation improves,” the statement added.

The extension of suspension of operations at the plants is also in line with its commitment to the safety and welfare of its people and to break the chain of the spread of COVID-19, Hero MotoCorp said, adding all of its corporate offices have already been in Work from Home (WFH) mode.

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Krishna Rath is a SEBI Registered Investment Adviser, and since 2015 has been educating netizens on investments and insurance. Krishna is a fee only SEBI RIA and is Odisha's first SEBI RIA. With background in IT, Krishna is changing the advisory space with new innovations in AdvisoryTech.

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