It appears as if the Hero group has decided to go solo after its split with Honda.  It is being reported by some websites that Hero has managed to entice about 150 engineers from Bajaj, Mahindra and Yamaha to set up R&D verticals of its own which will involve developments in engine technology, chassis technology and design.  This probably means that there will be no collaboration with another manufacturer and that Hero will join Bajaj and TVS in becoming a pure Indian company with abilities of its own.