Hero MotoCorp in technology alliance with Italian firmSeptember 13th, 2012 - 6:40 pm ICT by IANS
New Delhi, Sep 13 (IANS) Two-wheeler producer Hero MotoCorp Thursday said it has roped in Italian design firm Engines Engineering to develop internal capabilities in design and engines after the firm’s break-up with Honda.
The Italian company comes in as Hero Motocorp’s third technological partner after the latter’s break-up with Honda.
“I am sure the partnership with Engines Engineering, along with our other technology alliances, will result in offering cutting-edge technology and visionary styling in all our future products,” said Pawan Munjal, chief executive of Hero MotoCorp.
The new partnership will allow the company to replace Honda’s technologies with its own on its current range of two-wheelers.
Hero MotoCorp currently has agreements with US-based super bike and engine maker Erik Buell Racing (EBR) and Austria-based AVL.
Munjal had earlier said the company will also buy minority equity stakes in each of the three companies to ensure a better grip on its partners.
The company will first buy minority equity stake in its first technology partner EBR and then in AVL.
“I see this as a long-term partnership and there is immense scope to expand this alliance as we go along,” Munjal said.
Technology alliances will allow the company to shore up its international operations, which require different sets of modifications in the motorcycles than in those sold in India.
The company further said that it is making fresh investments for augmenting production capacity in scooter and 125 cc bike categories.
The company is scaling up its scooter production to over 60,000 units a month from about 40,000 units till a year ago, as it has received a good response to its new 110cc scooter, Maestro.
In terms of 125cc products, the two-wheeler major is scaling up its overall production capacity of to 75,000 units a month from about 60,000 units about a year back.
- Hero MotoCorp ropes in new technology partner - Sep 06, 2012
- Hero MotoCorp unveils new range of two-wheelers - Jan 04, 2012
- Auto firms bullish on electric vehicles after government plan - Sep 06, 2012
- Hero MotoCorp ties up with Erik Buell Racing - Feb 23, 2012
- Hero Honda is now Hero MotoCorp Limited - Jul 29, 2011
- Hero MotoCorp to set up manufacturing plants in Africa - Mar 20, 2012
- Hero MotoCorp Q2 profit rises 19.4 percent - Oct 18, 2011
- Hero to merge investment arm with self, invest Rs.2,575 crore - Jun 04, 2012
- Hero MotoCorp expects sales to pick up in festive season - Sep 05, 2012
- Hero launches hybrid concept scooter - Jan 06, 2012
- Hero MotoCorp launches new motorcycle Impulse - Oct 17, 2011
- HMSI launches its second 110 cc bike for mass market - May 15, 2012
- Hero MotoCorp's July sales up 14.82 percent - Aug 02, 2011
- Hero MotoCorp's August sales up 18.6 percent - Sep 01, 2011
- Honda to make 100cc bike in India - Mar 21, 2011
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