Shareholders approve to rename Hero Honda as Hero MotoCorp

Endeavouring to establish its independent flagship in the two wheeler market the legendary two wheeler manufacturing company Hero Honda  has finally received the approval from its shareholders to change its name into Hero MotoCorp Ltd from its existing name of Hero Honda Motors Ltd.

As reported earlier the joint venture of Hero Group of India and Japanese legendary automobile company Honda came to end during last December after successfully dominating the Indian bike market for 26 years. The Hero Honda brand of motorcycles launched with their alliance brought the revolutionary changes in the bike market of India breaking the dominance of Yezdi and Rajdoot brand of erstwhile motorcycles in India. After termination of their joint venture both the groups are in process of rejuvenating their potentials and building their separate flagship in market. However according to newly agreement between both the groups Hero group shall be entitled to pay the sum of 45 billion yen (Rs, 2450 Crore, INR) to Honda Motors for using its name as an affix behind the motorcycles manufactured by HHML.

Recently Hero group has re-launched Hero Honda Glamour, Hero Honda Glamour Fi and Hero Honda Karizma ZMR under its flagship with certain modifications. The change of name will also be introduced in the upcoming models of these bikes.

Addressing to shareholders in EGM the sources of HHML said, after the termination of joint alliance between Hero Group and Honda and by selling of entire shares of company to Hero Investments Private Limited by Honda, it was necessary to avoid the use of Honda as the brand name of company as Hero Honda Motors Limited. The sources further added that the user of word ‘MotoCorp’ will be helpful in strengthening company’s position and projecting company owing the independent recognition in the global market.