Hero MotoCorp Ltd. has announced the extension of its partnership with Harley-Davidson Motor Company, Inc., to further expand the Harley-Davidson X440 motorcycle into new variants and develop a new motorcycle. The collaboration, which originally began in October 2020, aims to strengthen both companies’ presence in the global motorcycle market, with a particular focus on both domestic and select international markets.
The partnership will involve the development of new motorcycles, leveraging Hero’s extensive manufacturing capabilities and Harley-Davidson’s renowned design expertise. The new variants of the X440 will cater to a broader range of customer preferences and demands. Additionally, the collaboration will include contract manufacturing, design, and development, focusing on bringing innovative motorcycles to market.
The deal involves design and development charges, as well as the price of the motorcycles and other related charges. Despite the significant scope of this collaboration, it is not classified as a related party transaction, and both companies are operating at arm’s length.
Hero MotoCorp, with a turnover of INR 37,455 crore for FY24, and Harley-Davidson, with a turnover of USD 5.84 billion for CY2023, are poised to benefit greatly from this partnership. The extension of the collaboration will allow both companies to tap into new market segments, enhance their product offerings, and boost their brand visibility in the motorcycle industry.
