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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.

Hero Moto Unveils Leap Hybrid Scooter Concept, Claims 235 MPG

Indian manufacturer and former Honda partner Hero MotoCorp has unveiled a new hybrid scooter prototype at the 2012 Auto Expo in New Delhi. The Hero Leap runs on a series hybrid powertrain with the battery-powered electric motor providing most of the power and the gasoline engine acting as a range extender, charging the battery and supplying power when the battery runs low. Hero claims fuel economy of up to 100 km/l, which translates to an eye-popping 235 mpg.

Piaggio Reports First Half 2011 Results

The Piaggio Group reported slight increases in net sales and net profit over the first six months of 2011 compared to the same period in 2010. Net sales increased 1.1% to 830 million euros (US$1.19 billion) over the first six months of 2011, compared to 820 million euros (US$1.18 billion) in the first half of 2010. Piaggio reported a net profit of 33.3 million euros (US$47.9 million), a slight increase from the net profit of 33.1 million euros (US$47.6 million) reported last year.