India – The two companies have agreed to establish a joint venture aimed at the production of powertrain systems for the two-wheeler market, in which Hero MotoCorp will hold a 60% stake and Magneti Marelli the remaining 40%.
The construction of a production plant for the JV is planned for 2015, at a location which has yet to be decided. Nonetheless, operations will begin immediately, with the partners starting to co-operate in design and development. The resultant products will be available both to Hero and the broader two-wheeler market in India.
The main objective of the JV is to build a portfolio of advanced solutions for the powertrain control of two and three-wheel vehicles which raise the technological level of the products available today by using electronics, including Magneti’s “ride-by-wire” technology.