India Hero MotoCorp have been making huge strides in the global automotive market of late and the company took a step further in this direction with the announcement of this latest partnership. This time around, Hero MotorCorp have linked up with Magneti Marelli, the Italian electronics and technology firm, in a joint venture.
The new brand will be call HMC-MM Auto Ltd with Hero MotoCorp and Magneti Marelli holding 6- and 40% ownership respectively. Capital to the tune of US$ 8.5 million will initially be invested into this firm and will be used to develop components like electronic fuel injection systems, immobilisers and traction and slip control, among others. Magneti Marelli joins the likes of America's Eric Buell Racing, AVL and Engines Engineering who have all entered into strategic partnership with Hero Motocorp in the recent past.