New Delhi: The world’s major two-wheeler maker, Hero MotoCorp has signed a technology sharing with US motorcycle firm Erik Buell Racing (EBR), the reports said.
Munjals-owned Hero MotoCorp will acquire technology from EBR without sharing profits or possession. Following its December 2010 breakup with Honda, the Indian company had been investigate for latest technology to compete enhanced in the domestic two-wheeler segment where it seizes 56% market share.
Hero MotoCorp managing director and CEO Pawan Munjal said that “It’s a very flexible partnership where they will develop cutting-edge technology based on our needs and market demands.”
EBR, a specialist in modified superbikes, is already working on some of Hero MotoCorp’s products and will develop latest bikes and scooters that are expected to hit the market in 2013. Hero does not plan to launch 1,000cc and above superbikes instantly and will gradually move up the value chain.
BR has already developed a fusion scooter concept, Leap, which was showcased by Hero at the Auto Expo in New Delhi prior this year.
EBR chairman Eric Buell said that “We are already customising technologies for Hero MotoCorp using the frugal Indian engineering expertise that would be available for developing different kinds of two wheelers. After Leap, we plan to bring in some bikes that would have a global appeal and can be locally manufactured.”
Individually, Hero also announced plans to enter motorcycle racing by sponsoring two teams-Hero and AMSOIL, Hero-in the AMA Pro Racing National Guard Superbikes Championship in the USA.