India, Sept. 6 -- The world's largest two-wheeler manufacturer Hero MotoCorp on Thursday said it has roped in other partners to provide technology as it looks to reduce its dependence on erstwhile partner Japan's Honda Motor Corporation before the new emission norms are introduced in 2015. Hero stopped short of naming the European design house that will provide end-to-end solutions on all kinds of two-wheelers to the company but said an official announcement would be made shortly. It said the partnership was signed two weeks ago. Since its divorce with Honda in December 2010, Hero has already roped in two technology partners - US superbike company Erik Buell Racing and Austrian engine manufacturer AVL. The company said it may not need any more partners as it seeks to become a diversified global two-wheeler company.
"This company has end-to-end capability in all kinds of two-wheelers," said Pawan Munjal, MD, Hero MotoCorp. "It is a European company that has expertise in engines, technology and even in hybrid and electric vehicles. Ours is a long-term arrangement, and there is every likelihood that sooner rather than later we will financially get involved in this company as well as our other two partners in terms of equity participation."
Munjal also said it will soon spread its wings around the world and is looking at assembling two-wheelers in at least four other locations outside India. As part of its 26-year old joint venture with Honda, Hero was constrained from exporting or assembling its products overseas. It already exports its vehicles to Bangladesh and Sri Lanka and plans to start selling them in Guatemala by October and in Nigeria by end of this year.
Published by HT Syndication with permission from Hindustan Times.
