Nov 21, 2016 02:03 AM
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(Updated Nov 21, 2016 01:39 PM)
Hero Honda started its operations in 1984 as a joint venture between Hero Cycles(sometimes called Hero Group, not to be confused with the Hero Group food company of Switzerland) of India and Honda of Japan.[7] In 2010, when Honda decided to move out of the joint venture, Hero Group bought the shares held by Honda.[8][9] Subsequently, in August 2011 the company was renamed Hero MotoCorp with a new corporate identity.[10]
In June 2012, Hero MotoCorp approved a proposal to merge the investment arm of its parent Hero Investment Pvt. Ltd. with the automaker. The decision comes 18 months after its split from Hero Honda.[11]
"Hero" is the brand name used by the Munjal brothers for their flagship company, Hero Cycles Ltd. A joint venture between the Hero Group and Honda Motor Company was established in 1984 as the Hero Honda Motors Limited at Dharuhera, India. Munjal family and Honda group both owned 26% stake in the Company.
