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Hero MotoCorp co-owned Erik Buell Racing files for bankruptcy

Hero MotoCorp is in a technical venture with Erik Buell Racing

Overdrive|May 03, 2015, 19:16:14 IST

Hero MotoCorp co-owned American motorcycle manufacturer Erik Buell Racing (EBR) has declared bankruptcy. The sudden turn of events has left all of its 126 employees without a job.

The company owes an amount of $20 million to creditors and is seeking court protection. EBR was formed after Harley-Davidson dropped Buell Motorcycle Co. back in 2009.

The company’s founder, Erik Buell had invested his own money into the company. Hero MotoCorp had bought a 49.2 per cent stake in Erik Buell Racing in 2013. Apart from infusing life into the company, Hero sought to gain the technical expertise of EBR. The upcoming Hero HX 250R is reportedly a result of the technical collaboration with EBR. The new Hero Karizma ZMR, in fact, has a similar rear end design as the EBR 1190 RX.

Erik Buell said , “The turn we recently took, ...Continue Reading...

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Hero MotoCorp co-owned Erik Buell Racing files for bankruptcy

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Tesla's Cybercab to feature built-in Starlink antenna, bringing satellite internet to robotaxis

US rejects Tesla bid to avoid recall of nearly 20,000 vehicles over headlight issue

IIT Kanpur study finds no evidence E20 petrol damages engines, says mileage impact is minimal

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