Hero Acquires Unfinished R&D from Erik Buell Racing

Hero MotoCorp Ltd (HMCL) has filed paperwork with the Bombay Stock Exchange stating that its wholly-owned subsidiary, HMCL Americas, has entered into a settlement agreement with Erik Buell Racing, which sees the American arm of the Indian brand acquire “certain consulting project” from EBR for $2.8 million. The filing with the Bombay Stock Exchange reads: “”As part of the settlement agreement, HMCL Americas Inc has agreed to acquire the ownership of certain tangible and intangible assets of EBR Entities, free and clear of all encumbrances, for a consideration of USD 2.8 million.” The move is not surprising, since the projects and research in question are unfinished consulting work Erik Buell Racing was doing for Hero MotoCorp as a client.

These Are Not the Eagerly Awaited Suzuki GSX-R250 & All-New GSX-R1000…But They Should Be

These images are very likely not of the hopefully-soon-to-be-released Suzuki GSX-R250 & GSX-R1000 sport bikes, as their purveyor, Japanese magazine Young Machine, has a fairly horrible track record with these sort of things…but that doesn’t mean that we should ignore them. After all, here we see two very attractive offerings, which we hope the folks at Hamamatsu will take a long look at, as the Suzuki GSX-R1000 rendered here would be an attractive update to a name that was once the superbike to beat.

2015 Suzuka 8-Hour Endurance Race Results

In Japan, the Suzuka 8-Hour is a huge deal, but for the rest of the world, it ranks on par with the rest of the FIM Endurance World Championship. That’s kind of a shame, really, as the Endurance World Championship is the only motorcycle championship where we still see different tire manufacturers competing against each other, the bikes are beautifully technical in their own special way, and in the case of Suzuka, there are often heavy-hitters at play. This year was no different, with Yamaha fielding its “Yamaha Factory Racing Team” with two MotoGP stars, Pol Espargaro and Bradley Smith, along with factory test rider and MotoGP podium-finisher Katsuaki Nakasuga.

Recall: KTM 1290 Super Duke R

Attention 2014 KTM 1290 Super Duke R owner, KTM North America is recalling 640 units of “The Beast” for a fuel leak that may occur from the threaded inserts at the rear of the gas tank. Obviously, a fuel tank poses a safety hazard to the rider, not only for its propensity to combust, but its ability to degrade traction to the rear tire. As such, KTM will notify affected owners, and KTM dealers will seal the threaded inserts to prevent future fuel leaks. If the motorcycle shows evidence of an existing fuel leak at the threaded insert, the gas tank will be replaced. Of course, these repairs will be performed free of charge. The recall on the KTM 1290 Super Duke R is expected to begin in August 2015.

Erik Buell Racing Acquired by the Flying Spaghetti Monster

Social media and some assorted motorcycle news websites (first here, and now here) are feverishly reporting that Erik Buell Racing has been out-right acquired by Hero MotoCorp, during the company’s receivership auction, thus confirming the wet-dream conspiracy theories of Buellistas around the world. The report was first started by the stalwart news source Motorcycle.in.th, and was then elevated quickly into the realm of semi-truthfulness by a bevy of other news outlets. With the journalistic bar now set so low, Asphalt & Rubber feels comfortable reporting that there is indeed a new owner for Erik Buell Racing, but it is not Hero MotoCorp, but instead the Flying Spaghetti Monster — deity to the Church of the Flying Spaghetti Monster.

Official Details & Photos of the 2016 Honda Africa Twin

Honda has officially dropped details and photos on its highly anticipated adventure-tourer, the 2016 Honda Africa Twin. A continuation of the legacy by the same name, the new Honda Africa Twin is an off-road focused machine that will go head-to-head with the big ADV bikes already on the market. Built around a 998cc parallel-twin engine, which makes 94hp and 72 lbs•ft of torque, the Africa Twin tips the scales at the curb at 503 lbs (standard model, first photos after the jump) / 534 lbs (DCT/ABS models, shown above). What we think ADV riders will come around to is Honda’s off-road built dual-clutch transmission, which will have the benefit of making shifts while out of the saddle much easier, and giving clutch-free operation, much like a Rekluse clutch.

Gear Review: Arai Corsair-X Helmet

When it comes to helmet brands, Arai Helmet is perhaps one of the best known in the business; and when it comes to the Japanese company’s flagship model, the track-focused Corsair reigns supreme. So, it’s a big deal when Arai decides to update its ready-to-race helmet offering, creating the Arai Corsair-X in the process. This week, we got to test the new Corsair-X in the flesh, spending a full-day riding at Thunderhill Raceway in Willows, California on Monday — melting away in the 104°F heat — as well as riding around my new hometown of Portland, Oregon. So let’s cut the fluff, breakdown what’s new with the Corsair-X, and talk about what our impressions are of this top-of-the-line helmet.

Honda Africa Twin Specs Leaked with Hi-Res Photo

Last night we brought you a leaked video of the new Honda Africa Twin, which revealed the off-road oriented adventure bike in all its glory. Today, we get to see the leaked specs of the Honda CRF1000L (the model designation of the Africa Twin), along with what looks like an official high-resolution photo. The spec-sheet for the Africa Twin has long been something of interest for ADV fans, with the obvious questions being 1) how much horsepower will it make? and 2) how much will it weight. The answers are 94hp, and 458 lbs dry (467 lbs with ABS, 489 lbs with DCT).

Finally, Here is the Honda Africa Twin in All Its Glory

Honda has been teasing a six-part video series about the Honda Africa Twin, and the final installment has just leaked onto the internet. As you would expect, the video finally gives us the full monty on what the Honda CRF1000L will look like, along with some great action footage. Perhaps even better, the final installment of Honda’s video series also features a very interesting discussion with HRC riders, Honda engineers, and stakeholders to the Africa Twin brand. The discussion is very insightful to the development of the 1,000cc adventure bike platform, including off-roading’s first dual-clutch transmission (DCT).

New Kawasaki Ninja ZX-10R Coming for 2016

Superbike fans should rejoice to the news that Kawasaki has an all-new ZX-10R in the works for the upcoming model year. The news comes from Germany’s reliable Speedweek publication, which interviewed Guim Roda, the Team Manager of Kawasaki’s World Superbike racing effort. Talking to Speedwekk, Roda said “we will have a new Kawasaki ZX-10R in 2016. The concept will be the same but, with some details and changes, it will be even more competitive. Given that the current rules are very restricted, the motorbikes have to be developed with an eye on the sport. We are heading on a path that Aprilia, Ducati and BMW have already taken for this year by bringing out new bikes.”

GoPro Looking to Raise $100 Million with IPO

05/22/2014 @ 2:21 pm, by Jensen Beeler10 COMMENTS

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Small affordable video cameras are changing the way motorcycle enthusiasts record their two-wheeling adventures, and one name has dominated the market: GoPro. The San Francisco Bay Area company is looking now to continue that growth; and to help achieve that goal, GoPro is searching for $100 million in capital.

According to documents filed on Monday with the Securities and Exchange Commission (SEC), GoPro will look for that money with an initial public offering (IPO).

Planning to be listed at GPRO on the NASDAQ exchange, GoPro disclosed $985 million in revenue last year, up 87% from 2012; while net income topped $61 million, nearly double the $32 million GoPro earned in 2012.

MIC Leaks Harley-Davidson’s Q1 Sales Figures

04/24/2012 @ 5:29 pm, by Jensen Beeler26 COMMENTS

For a while now I have been trying to figure out what exactly the Motorcycle Industry Council (MIC) does, because while the MIC “exists to preserve, protect and promote motorcycling through government relations, communications and media relations…” the industry group does a pretty poor job of doing much of anything along the lines of its mission statement, if it does anything really at all. Showing signs of life though, the MIC is making headlines today after it disclosed Harley-Davidson’s Q1 2012 earnings, ahead of the publicly-traded company’s shareholder meeting. Nice.

The move caused a bit of a shuffle over in Milwaukee, as the Bar & Shield brand had to make an emergency filing with the SEC that it had in fact found a 25.5% sales gain in the first three months of the year (bravo to Harley, by the way). For those that aren’t as a familiar with the MIC, the nonprofit group is essentially comprised of representatives from the various motorcycle OEMs, aftermarket, and other industry businesses, and is the corporatation-focused counterpart to the American Motorcyclist Association (AMA), which supposedly has the best interests of motorcyclist at its heart.

Zero Motorcycles Gets $17 Million Investment

03/17/2011 @ 2:36 pm, by Jensen BeelerComments Off on Zero Motorcycles Gets $17 Million Investment

Using strictly the Charlie Sheen sense of the word, Zero Motorcycles is WINNING right now. Announcing today that it closed another round of financing, Zero has $17 million of a $26 million round confirmed ($9 million still outstanding). The funding continues to be lead by the Invus investment group, who have been the major financial backbone at Zero Motorcycles. A funding round of that size can only mean one thing for a motorcycle company: going into mass production. Surely enough Zero states its intended use of the funds will go towards ramping up its US-based production plans.

Out of all the electric motorcycle vehicle players, Zero has been the most active in the funding department lately, closing round after round of capital investment. With those investments we’ve already seen changes at the Santa Cruz company, with the 2011 Zero Motorcycles line-up featuring upgrade motorcycles, as well as founder Neal Saiki departing the company.

5 Interesting Facts from Harley-Davidson’s Annual Report

02/25/2011 @ 5:19 pm, by Jensen Beeler16 COMMENTS

While we’re still poring over Harley-Davidson‘s annual report, making Excel spreadsheets, and winning at bullshit bingo, a couple interesting facts have struck us about the company and some of the trends it is experiencing. While it’s been mostly doom and gloom around Harley-Davidson in 2010, the Milwaukee-based company does appear to be solely in business because of the strong cost-cutting CEO Keith Wandell has been able to achieve during his tenure. Despite the moaning and groaning from the Bar & Shield loyal about Wandell’s non-motorcycle riding lifestyle, the CEO knows how to trim the fat, which is exactly what this HOG needed. Find five interesting facts for you to mull over this weekend after the jump.

Zero Motorcycles Raises Another $2 Million

02/03/2011 @ 5:59 am, by Jensen Beeler3 COMMENTS

Zero Motorcycle continues to raise money despite the wallowing economy, dropping another $2 million into its war chest during a $2.4 million round. The news of this funding comes shortly after we’ve gotten word that the Santa Cruz company plans on building a production facility for its electric motorcycles, and as of yesterday secured distribution in Mexico. While Zero hasn’t said what it plans to do with these newly acquired funds, we imagine the purpose will go something along the lines of the famous Daft Punk song “Harder, Better, Faster, Stronger”.

Harley-Davidson Pays Back $297 Million in Loans

12/13/2010 @ 9:07 am, by Jensen Beeler10 COMMENTS

Harley-Davidson filed papers today with the SEC disclosing that the company has bought back $297 million in papers (essentially paying off a loan) from Davis Selected Advisers, L.P to the tune of $380.8 million. Taking the loan amount at 15% interest, Harley-Davidson borrowed roughly $600 million from Davis Select and Warren Buffett ($300 million each, despite what other blogs seem to think) back in February of 2009. This announcement marks the first step Harley-Davidson has taken in repaying that debt, and with the added $100 million in interest payments, it’s easy to understand why.

Brammo Raises $12.4 Million in Series B Funds

09/22/2010 @ 10:56 am, by Jensen Beeler1 COMMENT

Brammo Inc. filed the appropriate forms with the SEC yesterday stating that it has raised $12.4 million in Series B funds, in what is still an open round of financing. Brammo hopes to raise a total of $30 million in the Series B offering, with the use of funds likely going towards expanding Brammo’s reach into the Asian and European markets, as well as building out the company’s product line into other target segments.

Also in the Form D filing with the SEC we get a glimpse of the people behind the company’s management, which includes a presence from Brammo’s initial investors Best Buy & the clean-tech venture capital group Chrysalix, as well as Brammo’s CFO Bruce Gilpin. New to the ranks is David Kurtz from Alpine Inc., an oil and gas exploration and development firm that is leading the Series B round with another firm that is so far unknown.

MV Agusta Purchase Terms & Details

08/09/2010 @ 8:47 pm, by Jensen Beeler18 COMMENTS

After Asphalt & Rubber broke the news about the MV Agusta purchase last week, many of the details about Harley-Davidson’s sale of MV Agusta to the Castiglioni were known or rumored at the time of the purchase’s announcement later in the day; however the exact figures and terms of the agreement were not officially known. Having filed the appropriate forms with the SEC, Harley-Davidson (a publicly traded company) has had to disclose the terms of MV Agusta’s sale, which don’t paint a favorable picture for the Milwaukee brand, but show how Castiglioni “bought” his company back despite bids coming from other parties.

Zero Motorcycles Raises Additional $5.5M in Funding

01/06/2010 @ 4:03 pm, by Jensen Beeler2 COMMENTS

Zero Motorcycles has raised an additional $5.5 million in its Series A funding, bringing it’s total war chest to just over $10.5 million in funding to date. The Invus Groups seems to have lead, if not solely financed, the Series A round, and retains two seats on Zero’s Board of Directors. The funding is reported to “help grow the company”, which in these financial climates could mean anything from paying looming costs to amounting cash for harder days ahead. Whatever the reason, it’s a positive sign for Zero Motorcycles, and an early high-point to their 2010 accomplishments.