Honda exited the joint venture through a series of off-market transactions by giving the Munjal family, which held a 26% stake in the company. From the beginning, the Hero Group relied on their Japanese partner Honda for technology. Under the joint venture, Hero Group could not export to international markets (except Bangladesh, Nepal and Sri Lanka) and the termination would mean that Hero Group could now export. The Hero Group would buy out the 26% stake of the Honda in JV Hero Honda. Termination of Honda joint venture and the renaming Hero Honda Passion Hero Karizma Rīy December 2010, the board of directors of the Hero Honda Group had decided to terminate the joint venture between Hero Group of India and Honda of Japan in a phased manner. The technology in the bikes of Hero Motocorp (earlier Hero Honda) for almost 26 years (1984–2010) has come from the Japanese counterpart Honda. It maintains global industry leaders to date. In 2001, the company became the largest two-wheeler manufacturing company in India and globally. A popular advertising campaign based on the slogan 'Fill it – Shut it – Forget it' that emphasized the motorcycle's fuel efficiency helped the company grow at a double-digit pace since its inception. Munjal family and the Honda group both owned a 26% stake in the company.ĭuring the 1980s, the company introduced motorcycles that were popular in India for their fuel economy and low cost.
A joint venture between the Hero Group and Honda Motor Company was established in 1984 as the Hero Honda Motors Limited at Dharuhera, India. "Hero" is the brand name used by the Munjal brothers for their flagship company, Hero Cycles Ltd. This decision came 18 months after its split from Hero Honda. In June 2012, Hero MotoCorp approved a proposal to merge the investment arm of its parent Hero Investment Pvt. Hero Honda started its operations in 1984 as a joint venture between Hero Cycles of India and Honda of Japan. As of 27 May 2021, the market capitalization of the company was ₹59,600 crore (equivalent to ₹700 billion or US$8.7 billion in 2023). It is one of the world's largest two-wheeler manufacturer and has a market share of about 46% in the Indian two-wheeler industry. Hero MotoCorp Limited (formerly Hero Honda) is an Indian multinational motorcycle and scooter manufacturer headquartered in New Delhi.
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