American motorcycle marque Erik Buell Racing (EBR) has decided to shut shop, relinquishing the services of 126 employees after a shockingly early retirement. Having sold a 49% ownership stake to Hero Motocorp, EBR was all set to bring Hero motorcycles and scooters to the US market before declaring bankruptcy.
In an attempt to explain the reason for shutting down, Erik Buell said “The turn we recently took, after we thought we were moving forward, was unexpected. We thought we had secured funding, but in the end, we were not able to get the funding in place” thus implying that their financial benefactors perhaps weren’t as forthcoming with the money as expected.
EBR was relying on this crucial bit of funding to further develop their 1190 line-up and its derivatives, but it’s unlikely that the projects will be fully realised. The recently formed alliance was also supposed to bring a new level of technical expertise to Hero’s stables. Hero’s expansion of its performance bike lineup was being aided by EBR who helped develop upcoming motorcycles like the Hero HX 250R and the 620cc Hero Hastur.
While Erik Buell has made allusions to new beginnings, it is uncertain whether he will
continue to be associated with Hero Motocorp as an independent entity.
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