Utilize the input text as a context reference, choose the right relationship between Hero Cycles and Ludhiana from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

From a modest beginning of bicycle spare parts business in Amritsar in 1944 with his brothers to being one of the largest bicycle manufacturers in the world, Munjal, known as the father of the cycle industry in the country, scripted a successful business story.The Hero Cycles factory was set up in 1956 in Ludhiana with a capacity for producing 25 cycles a day.

Answer: headquarters_location