| | DECEMBER 20239Hero MotoCorp, the world's largest manufacturer of two-wheelers, said that it will launch its electric scooter line in Europe early in 2019. The business intends to launch the VIDA V1 line of electric scooters in the UK, France, and Spain by the middle of 2024."Hero MotoCorp Executive Chairman Pawan Munjal stated at the EICMA motor show here that he is confident the company will soon establish itself as a trusted brand in key markets in the region, just as it has done in other parts of the world, with this foray into Europe with our electric vehicles". He continued, "The company's attitude is implemented through its products and services to have a clean, equitable, and hospitable planet for future generations".Hero MotoCorp CEO Niranjan Gupta said the company is collaborating with credible partners in the UK, Spain, and France to start commercial operations in each of these markets by mid-2024. "We will first introduce our electric scooter VIDA V1 in these countries and then expand our offerings with high-capacity premium ICE motorcycles and scooters, which are showcased here".The company, which specialises in offering affordable, high-quality personal mobility solutions, is optimistic that consumers worldwide would find value in the new product line, according to Gupta. The first to hit numerous European markets, starting in Spain and France, will be the VIDA V1.The business plans to begin operations in the UK at the same time. Hero MotoCorp plans to commence commercial operations in this location by the middle of 2024. It will gradually begin supplying these nations with its high-end line of ICE motorcycles and scooters. Hero MotoCorp stated that it has distributors selected for every one of these nations and is working to complete the business agreements. In bid to limit China's influence in South Asia, the US will contribute $553 million to the development of a port facility in the capital of Sri Lanka by Indian billionaire Gautam Adani.The US government agency's largest infrastructure investment in Asia and one of its largest worldwide is the finance for the deepwater West Container Terminal in Colombo provided by International Development Finance Corp. It is expected to support the economic expansion of Sri Lanka as well as "its regional economic integration, notably with India, a vital partner to both countries", DFC said in a statement.The US funding suggests that efforts to lessen Beijing's influence over Sri Lanka are resumed after the country overspent on Chinese port and highway projects prior to last year's economic collapse, leaving it heavily indebted to Beijing. India aspires to shift the regional power dynamics as well.The funding is a component of the $9.3 billion worldwide DFC investment acceleration programme for 2023. According to a US official, US involvement in development projects in the Indo-Pacific is demonstrated by the financing of the port in Sri Lanka. China, the island nation's largest foreign direct investor, had made approximately $2.2 billion in investments as of the end of the previous year. Publicly, US officials have denounced Sri Lanka's little-used southern Hambantota port, claiming it is part of China's "debt-trap diplomacy" and unsustainable.According to DFC, it will collaborate with sponsors Adani Ports & Special Economic Zone Ltd. and John Keells Holdings Plc., depending on their "local experience and high-quality standards". Because of its close proximity to international shipping lines, the port of Columbo is among the busiest in the Indian Ocean. All container ships travel through its waters in over half of cases. The DFC stated that it need additional capacity despite running at over 90 percent utilisation for the past two years. HERO MOTOCORP PLANS TO LAUNCH IN EU MARKETSUS OFFERS $553 MN FINANCING FOR ADANI PROJECT AT SRI LANKA PORTIN FOCUSIN FOCUS
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