By Kosaku Narioka

Hero MotoCorp Ltd. plans to raise prices of its vehicles by up to 1,500 Indian rupees ($20.38) starting from Jan. 1 to help offset rising material costs, the Indian motorcycle maker said late Wednesday.

The company said there had been a steady rise in costs of materials such as steel, aluminum, plastics and precious metals, and that the price increases would vary across models.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

12-16-20 2103ET