Hero Group and Magna Steyr under accord

Hero Group is a topic of discussion all over the country because of the major change it is going through these days. Honda group is taking an exit from the company leaving behind Munjal group behind to shoulder the responsibility. With this change, Hero group is taking some essential steps to come out with bright colours without affecting the high brand image.

In one of the major step, Hero group announced its tie-up with the Pune based company Magna Steyr. The main motto behind the tie up is the high quality technology assistance from the company.
Magna Steyr is expertised in making drivetrains, electronics, interiors, engines, seating, exteriors and functional development for automobiles. The company is expected to give a lot in terms of technological assistance.

Hero Group is looking forward for many changes in the company. For this purpose they are also coming up with absolutely new branding strategies as well.

The contract with Honda group is expected to end in the year 2014. this contract includes the technological assistance which Honda group has to offer to the Munjals lead Hero Honda. For further assistance, the company has also tied up with the Magna Steyr. This is certainly going to prove lucrative to the company. Though it is hard to imagine Hero Honda without Honda, but still looking at the tough work Hero group is going through to maintain the standards leaves good hopes for the company.

Press Release:

Hero Honda officials said, “Hero Motors and Magna Steyr India announced on Thursday they have entered into a business development and technical assistance agreement,”

“global recreation market, as well as the India automotive industry,” they added.

“The alliance uniquely positions Hero Motors to provide end-to-end solutions for powertrain products worldwide,” Hero Motors Managing Director Pankaj Munjal said.