Hero MotoCorp said it has entered into a strategic partnership with US-based Erik Buell Racing for technology and design collaboration to develop high-speed motorcycles.
The cabinet meeting chaired by Chief Minister D V Sadananda Gowda approved the deferred VAT payment to the tune of 40 per cent for a period of ten years and the company will pay the arrears from the eleventh year.
Bicycle makers have asked the government to exclude the product from proposed Goods and Services Tax (GST) and has demanded withdrawal of all current duties.
Disruptive technologies are game changers that herald a new era, toppling established market leaders within a short span. The battery-operated electric two-wheelers is one such technology.