New Delhi: Two-wheeler maker Hero MotoCorp and its Italian partner Magneti Marelli on Wednesday inaugurated the first autonomous production and development centre of their joint venture at Manesar in Haryana.
The new centre will serve as a production facility and innovation hub to develop new-generation fuelling systems for Hero MotoCorp's two-wheelers, the company said in a statement.
Hero holds a majority stake of 60 per cent in the joint venture HMC-MM Auto Ltd while Magneti Marelli holds the remaining 40 per cent.
Speaking on the occasion, Hero MotoCorp vice chairman, managing director and chief executive Pawan Munjal said, "India is a growing participant in the global value chain, and is a place where companies can design, develop and manufacture innovative products efficiently. I am confident that this company will set a new technological paradigm."
"One of our core objectives is to position ourselves as a technologically driven, forward looking company, and we will continue to push the envelope in terms of skill, scale, leadership and best practices."
Magneti Marelli CEO Eugenio Razelli said the partnership with Hero in India is crucial for the company.
"Together we have the possibility of bringing a technical revolution in one of the most important two-wheelers market in the world, aiming at a better mobility, great market results and matching innovation, quality and affordability," he said.
For Magneti Marelli, this is also the 10th industrial plant in India.
The JV will help build electronic fuel injection (EFI) systems, which will be used in Hero's two-wheelers. Additional functionality such as immobilisers, traction and slip control, multi map, flexi fuel and multi-fuel management will also be available with the above technology, the company added.
HMC had entered formed a joint venture with Magneti Marelli to form a new entity in December 2013.
via Business - Google News http://ift.tt/1HI2k2B
Put the internet to work for you.
0 comments:
Post a Comment