India's Hero MotoCorp in deal with European partner

NEW DELHI, Sept 6 Thu Sep 6, 2012 4:37am EDT

NEW DELHI, Sept 6 (Reuters) - Hero MotoCorp Ltd, India's largest motorcycle maker, has signed an agreement with a European design and technology partner, Managing Director Pawan Munjal said, its third partner since its split from Japan's Honda Motor Co.

The company will announce the name of its new partner soon, he said.

In December 2010, Hero's founders said they would end a joint venture partnership with Honda Motor by buying out the Japanese auto maker's 26 percent stake.

In February this year, Hero announced a partnership agreement with U.S. superbike company Erik Buell Racing, and in March signed a research deal with Austrian engine manufacturer AVL. (Reporting by Henry Foy and Anurag Kotoky; Editing by Anand Basu)