In the interest of expanding production capacity, motorcycle producer Hero Honda plans to spend Rs 500 crore for its new Indian plant. The company currently operates two plants in northern India which can produce 2.4 lakh motorcycles a month. Hero Honda, which holds a 50 percent marketshare, also plans to export products to Sri Lanka, Bangladesh, Columbia, Nepal, and Peru and will release a new scooter and a new motorcycle this year.

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