India's Hero Motorcorp has taken a 49.2-percent stake in Erik Buell Racing at cost of $25 million; $15 million of that is in immediate investment, the remaining $10 million to come over the next nine months. The two companies formalized a partnership in February last year, when Hero sponsored EBR's two bikes in the AMA Pro Racing series and Buell sent engineers to India to help Hero develop new products.
Erik Buell Racing has gotten its hands on $20 million from foreign investors in a first step toward starting production on a range of new, affordable bikes. The cash will be used to hire more staff and expand the company's current Milwaukee production facility to 54,000 square feet. Details are skinny at the moment, but Buell says EBR plans to start selling a $20,000 bike in line with the current EBR 1190RS (seen above), though with less hardcore components. That price tag puts the newcomer in t