Hero MotoCorp will deliver its first baby on Thursday, a little over a year after it divorced Honda, its partner of 27 years. The company will unveil a new petrol-electric hybrid scooter, developed without any Honda DNA, according to a highly placed company source. The Munjal family-owned Hero MotoCorp developed the scooter with active participation of an overseas engineering company. The new scooter would also be the first global product from Hero MotoCorp, which is now free to sell bikes and scooters anywhere in the world. The new scooter is aimed primarily at overseas markets, with cheaper versions for local buyers. It would deliver a fuel efficiency of 100 km per litre.
On Wednesday, Hero MotoCorp unveiled three products - a 110cc scooter Maestro, and two motorcycles, the 125cc Ignitor and 100cc Passion XPro - all developed with technological support from Honda. The Japanese company will cease all tech supplies to Hero MotoCorp from 2014. However, the company has not announced the price of the three models and will be announced at the time market launch. While, the Maestro will be launched in the market during this month, the two new motorcycle models will hit the market later this year. Maestro will be targeted at male customers in the age group of 18 to 24 while the Ignitor and XPro will be looking for executives and college going students. According to an agreement signed between the two erstwhile partners, Hero can use the Honda brand till 2014. Hero Group and Honda had signed a new licensing agreement in March, under which the Indian firm will pay its Japanese counterpart 45 billion yen (about Rs 2,450 crore) till 2014.
Company Name | CMP |
---|---|
Bajaj Auto | 9943.00 |
Hero MotoCorp | 5787.50 |
TVS Motor | 2502.40 |
Eicher Motors | 4925.75 |
Atul Auto | 554.80 |
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