HeroMoto Corp to form jt venture with Magneti Marelli for powertrains.

The country's largest motorcycle maker HeroMoto Corp announced a joint venture with Milan-based Magneti Marelli for the manufacture of new generation powertrains.

Both companies will be investing $8.5 million in the joint venture firm HMC-MM Auto Ltd. in the next three years and around $27 million over the next ten years.

HBL