Hero MotoCorp Approves Closure Of North America Subsidiary

Hero MotoCorp, India's largest two-wheeler manufacturer by volume, has approved the dissolution and closure of its wholly-owned subsidiary, HMCL (NA) Inc. in the USA. The resolution to dissolve the wholly-owned subsidiary, HMCL (NA) was taken after a Board Meeting held on October 23, 2019 and was approved by the Board. The process of dissolution is expected to be complete in the next six months, and HMCL (NA) will initiate the process of dissolution with the Delaware Secretary of State. There will be no buyers for the subsidiary and it will be completely dissolved, HMCL said in a filing with the Bombay Stock Exchange.

In 2013, Hero MotoCorp had announced plans to roll out the company's two-wheelers in the United States and Canada, appointing its erstwhile partner, Erik Buell Racing as the exclusive distributor with plans to eventually set up manufacturing and assembly plants in North America. While the thoughts then was that North America could have a market for smaller displacement motorcycles, although primarily the US and Canadian markets have traditionally been for heavier and more powerful bikes, with engine capacity of over 600 cc.

In July 2013, Hero MotoCopr acquired 49.2 per cent stake in Erik Buell Racing. But by 2015, EBR filed for receivership and ceased all operations. By then, EBR also passed into new ownership, and Hero acquired EBR's consulting business. While that partnership failed to take off without any meaningful venture into new product development, it seems now Hero MotoCorp has put its ambitious North America plans on hold, at least for the time being, with the dissolution of the subsidiary.



from CarandBike - Latest News

Comments

Post a Comment

Popular posts from this blog

Brixton 1200 To Rival Triumph Bonneville T120

Image
A 1200 cc modern classic with similar design lines as Triumph's iconic Bonneville series, has reportedly been cleared for production. The bike was showcased as a concept at last year's EICMA motorcycle show, and from the looks of it, this is a model developed in China with the Triumph Bonneville T120 in its sights. The Brixton brand though is part of Austria's KSR Group, which imports bikes from several Chinese manufacturers, including CF Moto. And while the new Bonneville rival will be manufactured in China, the design and engineering has been created at KSR's design centre in Krups, Austria. Also Read: Triumph Bonnville T120 First Ride Review The Brixton 1200 cc motorcycle has not been named yet, or a launch timeline announced So far, the company has not committed to a launch date yet, but says that it will eventually make it to production. And from the looks of it, that may well be sometime later this year, maybe even at the EICMA 2020 show in Milan, Italy, in
Read more

Honda 850 cc Parallel-Twin Engine Revealed In Patent Filings

Image
Latest patent images from Japan seem to indicate that Honda may be working on an all-new 850 cc, parallel-twin engine. And the new engine, with more displacement to meet the Euro 5 emission regulations, will replace the current engine on the Honda NC750 range, with the engine and chassis shares amongst several Honda models including the Honda NC750S naked bike, the NC750D Integra scooter, the NC750X adventure tourer, as well as the Honda X-ADV adventure scooter. None of these models are offered on sale in India, but with new emission regulations looming around the corner in Europe, Honda is possibly looking to explore an increase in displacement to meet those norms. Also Read: Middleweight Honda Africa Twin Expected To Be Introduced New Honda 850 cc engine likely to be used in several new Honda models The hike in displacement is a solution followed by several brands, which allows the engines to be cleaner, but not at the cost of performance. And from the looks of the latest pate
Read more

Indian FTR 1200 Rally Revealed

Image
Indian Motorcycle took the wraps off the Indian FTR 1200 Rally, which is an off-road biased version of the standard Indian FTR 1200 . The FTR 1200 Rally looks more of a scrambler than a flat-tracker and boy, does it look good! There are a few changes on the Rally compared to the standard model such as ProTaper handlebars, which are 50 mm higher. This results in a more upright seating position. The alloy wheels are swapped out for Aluminium spoke wheels wrapped in knobby Pirelli Scorpion Rally STR rubber. The FTR 1200 Rally also gets a new Titanium smoke paint scheme along with the Indian headdress logo along with a brown seat, giving the motorcycle a stripped out retro look. There is a new rally windscreen as well, which sits atop the headlamp. Also Read: Indian FTR 1200 Review (The Indian FTR 1200 Rally gets the same engine as the standard FTR 1200. No mechanical changes) The FTR 1200 gets a new liquid-cooled 1,203cc V-twin engine which makes 120 bhp and 120 Nm of peak torque
Read more