Erik Buell Racing (EBR), an American motorcycle sport company which manufactures street and racing motorcycles, has closed operations. Two-wheeler giant Hero Motocorp Ltd holds a 49% stake in the company. EBR has also filed for bankruptcy protection from creditors.
Back in 2013, Hero MotoCorp, an Indian motorcycle giant, purchased stake in the company for $30 million. One of the products, New Delhi-based Hero developed in partnership with EBR is a sports bike HX. This product is scheduled to be launched in the second half of this fiscal year.
A Hero spokesperson said, “The Company is confident that its future product line-up would not be affected despite EBR ceasing operations”.
New Delhi : Country's largest two-wheeler maker Hero MotoCorp aims to enter European markets, including Italy, Spain and France, by end of next year, with the launch of its hybrid-scooter 'Leap' in these countries.
In the first phase of its foray into Europe, the company plans to launch its products in Italy, Spain and France followed by the UK and Germany in the next phase of expansion, Hero MotoCorp Ltd (HMCL) said in a statement.
To begin with, the company will launch its first serial-hybrid scooter 'Leap' in these markets, and subsequently bring more models including scooters and motorcycles, it added.
New Delhi - Country's leading two-wheeler maker Hero MotoCorp on Wednesday launched two new products in the market to cash-in on the festive season.
The company launched 100 cc Splendor Pro Classic, which has a cafe racer styling, priced at Rs 48,650 (ex-showroom Delhi) and another 100 cc on-road-off-road bike Passion Pro TR at Rs 51,550 (ex-showroom Delhi).
Commenting on the launches, the company said: "Having kicked-off the festive season with record 6-lakh plus sales in September, Hero MotoCorp has lined-up a slew of new products, including refreshes and variants in the festive season."
New Delhi: Country's largest two-wheeler maker Hero MotoCorp on Friday reported a 8.67 percent increase in its total sales at 5,29,862 units in July 2014.
It had sold 4,87,545 units in the same month last year, Hero MotoCorp said in a statement.
During July, Hero MotoCorp become the first Indian two-wheeler maker to have a manufacturing facility in Latin America, where it has set up its wholly-owned subsidiary in Colombia 'HMCL Colombia SAS'.
"All the recent launches by the company, including the new Xtreme, Karizma and ZMR are driving volumes across market," Hero MotoCorp said.
Sao Paulo: India's largest two-wheeler maker, Hero MotoCorp, plans to set up a plant in South India, its sixth overall, to cater to the domestic market and take its overall annual capacity to 12 million units.
"We are looking to set up a plant in South India. It will be utilised to service the market there. We are scouting for land at the moment," Hero MotoCorp Manging Director and CEO Pawan Munjal said.
He, however, did not share the details regarding the timeline for the completion as well as the location of the plant.
Sao Paulo: Hero MotoCorp, India's largest two-wheeler maker, is looking to start selling bikes in the US next year, hoping to create a niche market for its products.
The company, which entered as many as 18 global markets in the past one-and-a-half years, is confident that its motorcycles will be accepted well in the US.
"For the developed western markets (US) currently, we are not that much focused on bigger motorcycles. Right now, what we are looking at is taking some of our current products and try creating a niche market," Hero MotoCorp Managing Director and Chief Executive Officer Pawan Munjal said here.
Sao Paulo: India's largest two-wheeler maker Hero MotoCorp is planning to enter Brazil by 2016 as it looks to consolidate position in the fast growing South American market.
It also plans to begin work on its manufacturing facility in Columbia in the next two months, investing USD 70 million.
"We are looking to enter Brazilian market around the Olympics in 2016. We are developing some engines specifically for this market. Its an attractive market for us," Hero MotoCorp Managing Director and CEO Pawan Munjal.
New Delhi, May 28 : Two-wheeler major Hero MotoCorp Wednesday reported a 3.44 percent decline in its standalone net profits for the fourth quarter ended-March.
The company recorded a net profit of Rs. 554.43 crore during the January-March quarter as against that of Rs. 574.23 crore in the same quarter of previous fiscal.
New Delhi/Dhaka, April 21 : Two-wheeler major Hero MotoCorp Monday said it had forayed into Bangladesh through a joint venture (JV) partnership with the Nitol Niloy Group.
"In addition to being our first overseas JV, this is also where our first manufacturing plant outside of India will come up," said Pawan Munjal, managing director and chief executive, Hero MotoCorp in a statement.
"Once operational by the second quarter of Financial Year 2015-16, the plant will have an annual capacity of 150,000 units. We are aiming to have around 20 percent of market share here in the first year of our operation."
Hero MotoCorp's recently unveiled smart bike, the Splendor iSmart, boasts stop-&-start i3S technology that promises to cut costs for the owner by preventing wastage of fuel by shutting down the engine when idling.
The stop-&-start i3S technology is the most notable feature in the new Splendor bike. It prevents wastage of fuel by shutting down the engine during short halts at places such as a traffic signal. The engine re-starts when the clutch is pressed.
New Delhi, March 13 : Two-wheeler manufacturer Hero MotoCorp Thursday launched a new variant of its entry-level motorcycle Splendor priced at Rs. 47,250 (ex-showroom Delhi).
The new variant -- Splendor iSmart -- comes with idle stop and start system technology (i3S) which helps in conserving fuel.
"Our customers will love the new i3S technology which makes this motorcycle truly smart, giving them more for every drop of fuel. We have applied for a patent for this technology which may be later extended to several other models," said Anil Dua, senior vice president, marketing and sales, Hero MotoCorp.
Japanese automaker, Hero MotoCorp Ltd has said that its sales have risen 6.85 per cent to 16.80 lakh two-wheelers during the third quarter of 2013 compared to the third quarter of 2012.
The company's EBITDA margin (earnings before interest, taxation, depreciation and amortization stood at 13.06 per centduring the third quarter till December 2013. The joint entity has been a leader in the market and has recorded strong sales in the domestic market.
New Delhi, Dec 3 : Automobile major Hero MotoCorp Tuesday said it has entered a joint venture (JV) agreement with Magneti Marelli of Milan, Italy, to produce engine systems for the two-wheeler market.
"This is our first JV since charting our solo journey and as an immediate opportunity and focus area, the new firm shall be taking up development and manufacturing of next-generation fuelling systems," said Pawan Munjal, managing director and chief executive officer, Hero MotoCorp.
Hero MotoCorp, India's leading two-wheeler manufacturer, on Thursday announced the appointments of two senior executives - Rajat Bhargava and Marcus Feichtner.
Rajat Bhargava, a former senior partner at global consultancy firm McKinsey & Co, has joined the company as the head of Strategy & Performance Transformation division with immediate effect; while Marcus Feichtner has been appointed as the head of the `engine design & development' division of the company.
Two-wheeler giant Hero MotoCorp on Wednesday reported better-than-expected results for the three months ended September 30 this year, thanks to a combination of higher realisation, higher margins and higher other income.
Hero MotoCorp said that it enjoyed a growth of 10 per cent in revenues to Rs 5,726 crore in the July to September quarter of this year, as against revenues of Rs 5,187 crore in corresponding period of last year.
Net profit jumped by 9 per cent to Rs 481.41 crore, while other income climbed by 16 per cent to Rs 115 crore year-on-year in the quarter under review.
New Delhi, Oct 1 : Two-wheeler maker Hero MotoCorp Tuesday reported a 15.8 percent growth in September sales at 468,670 units from 404,787 units sold in the corresponding month of last year.
According to the company, its sales in the second quarter of 2013-14, grew by 6.3 percent at 1,416,211 units from 1,332,805 units sold in the corresponding quarter of the previous fiscal.
"Our performance in September is a result of the strong retail growth we have reported throughout the first half of this financial year," Anil Dua, senior vice-president, marketing and sales, Hero MotoCorp, said in a statement.
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Two-wheeler giant Hero MotoCorp has declared that it would not accept any indiscipline and insubordination by workers at its plans.
Hero MotoCorp has been suffering labour unrest at its Haridwar manufacturing facility since late last month. The unrest seems to be spreading across its network as workers' union HMCWU at its Gurgaon plant has also threatened to go on a strike as a protest against the suspension of nine employees.
Jaipur, Sep 9 : Hero MotoCorp Ltd (HMCL), one of the world's largest two-wheeler manufacturers, Monday commenced construction of its Rs. 450 crore centre of global innovation and research & design (R&D)' at Kukas near here.
Hero MotoCorp managing director and CEO Pawan Munjal laid the foundation stone of the centre here in the presence of the company's global technology partners -Erik Buell of Erik Buell Racing (EBR), US; Alberto Strazzari of Engines Engineering, Italy and Markus Feichtner of AVL, Austria.
New Delhi, Sep 2 : Two-wheeler manufacturer Hero MotoCorp Monday reported a four percent growth in August sales at 459,996 from 443,801 units sold in the corresponding month of last year.
"Registering growth in both retail as well as despatch sales despite weak market sentiments has come about due to several initiatives undertaken in recent times," Anil Dua, senior vice-president, marketing and sales, Hero MotoCorp, said in a statement.