Hero Honda, one of the biggest two wheeler manufacturers in India, now operates as a solely by Hero Group, The shareholders of Hero Honda have approved the changing of the name of the company to Hero MotoCorp Ltd, post the exit of Japan’s Honda from the Munjals-promoted firm.
Honda Motors separated the partnership after 27 long years. The joint venture of Hero Honda was the biggest manufacturer of motorcycles in India with a domestic market share of almost 50%.
While the company has the rights to use the Hero Honda name till 2014, it is keen on promoting new product, to be introduced under the new name. In March, the company hired London based international brand specialist, Wolff Olins to give the world’s largest two-wheeler maker a new look.
According to the Hero Group, it has kept INR 100 crore aside for developing the company’s new brand identity, including brand architecture, name, logo and positioning. They also plan exporting in Southeast Asian, West Asian, African and Latin American markets, where the Japanese manufacturer Honda already had a presence.
Also see – Hero Honda To Change Name To Hero Moto