Hero MotoCorp – New Name Of Hero Honda

Published: Friday, August 19, 2011, 15:49 [IST]

Hero Honda, India's largest two-wheeler manufacturer has officially changed its name to Hero MotoCorp after its shareholders approved the name change. It may be recalled that Hero Motors and Honda decided to end their 26 year joint venture last year. Hero Motors bought Honda's 26 per cent stake in Hero Honda by paying Rs.3,841.83 crore.

Hero MotoCorp in its statement said: “As a result of the separation of the joint venture partners i.e. Hero Group and Honda and subsequent to the sale of entire shareholding by Honda to Hero Investments Private Limited, the word 'Honda' needs to be dropped from the name of the company, i.e. Hero Honda Motors Ltd."

Hero Motors believes the name MotoCorp indicates the company's global presence and ambitions. Hero MotoCorp wants to explore international markets as it is now an independent company. Its association with Honda Motors had prevented it into entering the international markets. While Hero is planning to focus on the international market, Honda is considering India as its primary growth engine and has increased production of two-wheelers. The company will also open a new manufacturing plant in 2012.