Hero Honda is Now Hero MotoCorp Ltd

Hero Honda Motors Ltd(HHML) officially renamed as Hero MotoCorp Ltd. In the run-up to the unveiling of its new global brand identity, the world's largest two-wheeler manufacturer has received the necessary statutory approval from the Registrar of Companies (RoC) for the changeover to the new name. India’s number one two wheeler maker in terms of sales has formally announced that the name change that will come into effect from Friday, 29th of July 2011. This comes as Honda of Japan sold 26 percent stake in the joint venture company to the Hero Group. As part of the deal Honda will be compensated with royalty payouts depending on net sales. Honda was in contract with the Hero Group till 2014 and both companies had agreed to their share technology. But since, Honda came into India as a separate entity, things weren’t going well between the two partners.
Honda then decided to prematurely end the contract and part ways with the Hero Group. Until now, Hero was depending on Honda of Japan for technical support. Now, with Honda becoming one of the major competitors in the market, poses a different challenge to the newly christened Hero MotoCorp. The bike maker sure has big plans to promote the new brand as the company plans to unveil the new brand in London on August 9 as India’s largest two-wheeler maker. According to Pawan Munjal, the name change marks a beginning of a new era of innovations. The bike maker plans to expand their footprint not just in India but also across markets all across the world. The bike maker will also work to further strengthen its hold over the Indian two-wheeler market in the years to come.