Honda Siel Cars India (HSCI) yesterday announced the change in its name to Honda Cars India Limited (HCIL) after it parted ways with former partner Usha International Ltd. (UIL), thus ending a 16-year joint venture in India. Honda bought out UIL’s 3.16 percent remaining stake in Honda Siel Cars India for Rs 180 crore. The name change will be with immediate effect as per the fresh certificate of incorporation issued by the registrar of companies.
HCIL is now a 100% Honda subsidiary in India and its product range includes Honda Brio, Honda Jazz, Honda City, Honda Civic and Honda Accord which are produced at the Greater Noida facility. The Honda CR-V is imported from Japan as Completely Built Units. Currently, HCIL has a strong sales and service network with 137 facilities in 85 cities spread across the country.
Commenting on the development, Mr. Hironori Kanayama, President & CEO, Honda Cars India Limited, said –
“We are committed to the Indian market and will continue to delight our customers with latest products from Honda, which will enrich their lives and enhance their lifestyles. Honda’s quality, superior technology and overall ownership experience is what has endeared this brand to our customers since inception and same philosophy will drive us in future.”
Also see – Honda India to phase-out Civic soon