New Delhi, March 25 (IANS): Two-wheeler major Hero MotoCorp inaugurated at Manesar on Wednesday the first autonomous 'production and development centre' of its joint venture (JV) with Milan-headquartered Magneti Marelli.

"India is a growing participant in the global value chain, and is a place where companies can design, develop and manufacture innovative products efficiently," said Pawan Munjal, vice-chairman, managing director and chief executive officer, Hero MotoCorp.

"Hero's vision is to be a part of this global value chain. We have crafted an exciting vision -- to use electronics in order to achieve better engine performances, reduced energy consumption and control emissions," Munjal added.

According to the company, the new centre will serve as a production facility and innovation hub to develop new-generation fuelling systems for Hero MotoCorp's two-wheelers.

Hero MotoCorp holds majority stake of 60 percent in the JV company -- HMC-MM Auto -- while Magneti Marelli holds the remaining 40 percent.