Hero Motocorp, country’s largest two wheeler manufacturer, has entered into a long term agreement with Erik Buell Racing to source technology in a view to strengthen its presence in the high end bike segment.
With this agreement, the company could introduce a product using EBR technology. Tentatively, by 2013, the company will launch a product using EBR technology.
The Chief Executive Officer of the company, Pawan Munjal said, the company will not straightway launch a 1,000 cc or a 1,200 cc bike using EBR technology but would move up gradually.
However, the company needs to clarify certain things which will be addressed gradually. Hero clearly states that the present technology partnership will not replace the current technology. The move is to have a multiple technology sources for different segments and to enhance its own R&D capability.
The shares of Hero Motocorp were down 0.14% to Rs.2,143.20 per share in the Mumbai market close. The scrip has hit an intraday high of Rs.2,195 and an intraday low of Rs.2125.50 in BSE
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