Hero MotoCorp And Erik Buell Racing developing 250cc sports bike
The motorcycle is being developed in collaboration with Hero Moto's American technology partner Erik Buell Racing (EBR), two persons involved with this closely-guarded project who did not want to be named told ET.
One of those persons added: "Hero is determined to showcase to the world its capability and competence in bringing world-class products with superior technology on its own in quick time. It is currently working on several models ranging from low-engine displacement to higher-powered motorcycles and scooters. However, the first bike on a new platform to hit the market will be a 250cc motorcycle."
A group of young and highly-skilled engineers from Hero Moto's R&D centres in Gurgaon and Dharuhera have been stationed at the EBR centre at East Troy in Wisconsin, US for the past several months, and are working very closely with EBR engineers on this project, the persons close to the project said. The high-powered 250cc bike with cutting-edge technology and next-generation styling has been jointly conceptualized, designed and developed by Hero and EBR engineers.
"While the initial development is being done at the EBR centre, the complete development and manufacturing of the bike will be done at Hero's plants in India," said a source.
Image Courtesy SWADE Industries/ Troutman-Design
Image Courtesy SWADE Industries/ Troutman-Design
NEW DELHI: Hero MotoCorp, the world's largest two-wheeler maker, has signed a technology-sharing deal with US motorcycle firm Erik Buell Racing (EBR), a year after ending a 27-year-old pact with Japan's Honda Motors.
Munjals-owned Hero MotoCorp will buy technology from EBR without sharing profits or ownership. After its December 2010 breakup with Honda, the Indian company had been scouting for new technology to compete better in the domestic two-wheeler segment where it holds 56% market share. "It's a very flexible partnership where they will develop cutting-edge technology based on our needs and market demands," Hero MotoCorp managing director and CEO Pawan Munjal said, adding that the company will first develop bikes bigger than its top-end 225cc Karizma ZMR.
EBR, a specialist in customised superbikes, is already working on some of Hero MotoCorp's products and will develop new bikes and scooters that are likely to hit the market in 2013. Hero does not intend to launch 1,000cc and above superbikes immediately and will gradually move up the value chain. Hero MotoCorp, earlier known as Hero Honda, competes with Bajaj, TVS, Honda and Yamaha in the domestic two-wheeler segment, which is forecast to grow 10%-12% in the next fiscal year. It had grown into the world's largest-selling bike brand on the back of technology from the Japanese automaker, with which it was sharing equity and paying royalty on every product. Honda, which operates its own subsidiary in India, is currently Hero's closest rival in the domestic market. Hero, one of largest business houses in India, posted its highest quarterly profit at Rs 613 crore in the quarter ended December 31. The company, which is reported to have cash reserves of more than Rs 4,000 crore, plans to enlarge its R&D setup at Daruhera into a full-fledged design and engineering centre with EBR's help.
"We are open to all options as we move into being a diversified automotive company," Munjal said. EBR has already developed a hybrid scooter concept, Leap, which was showcased by Hero at the Auto Expo in New Delhi earlier this year. "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," EBR chairman Eric Buell said, adding, "After Leap, we plan to bring in some bikes that would have a global appeal and can be locally manufactured."
Separately, 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. "As a company to nurture sporting talent, we intend to develop a full-fledged team for racing and would gradually develop teams from India," Munjal said.
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