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Hero MotorCorp Buys Half of Erik Buell Racing

According to a press release from Hero MotorCorp, the U.S. arm of Hero, HMCL (NA), has agreed to purchase 49.2% of Erik Buell Racing for $25 million. HMCL (NA) is said to have transferred $15 million to EBR with the remaining $10 million to be paid within the next nine months. Hero says it will have two members and one observer sitting on the EBR board of directors but Erik Buell will continue as Chairman and CEO of the company.

Erik Buell Racing to Attend Motodays Fiera Roma

Erik Buell Racing is continuing to expand its European presence by appearing at Motodays Fiera Roma, one of Europe’s largest motorcycle trade shows. Held March 6-9 in Rome, Motodays will be an important event for EBR’s plans to establish a European dealer network. EBR opened its first European office last month in the Netherlands, but Motodays will be the European motorcycle show debut of the company and its 1190RX sportbike.

Hero MotoCorp Forms Joint Venture with Magneti Marelli

Indian manufacturer Hero MotoCorp is teaming up with electronic fuel injection expert Magneti Marelli in a new joint venture. Hero will hold a 60% share in the company with Magenti Marelli controlling the other 40%. The two companies are initially investing a combined US$8.5 million into the joint venture, with a planned  investment of US$27 million total over the next ten years.