Hero Honda days over, time for Hero MotoCorp Ltd

New Delhi, Jun 20: Hero Honda is all set for a new name after share-holders of the company approved the changing of the name of the company to Hero MotoCorp Ltd. The decision comes post the exit of Japanese automobile company Honda from the firm.

In its communication to shareholders for the extraordinary general meeting held on Jun 17, the company had said, "As a result of the separation of the joint venture partners i.e. Hero Group and Honda and subsequent to the sale of entire shareholding by Honda to Hero Investments Private Limited, the word 'Honda' needs to be dropped from the name of the company, i.e. Hero Honda Motors Ltd."

And added, "The word 'MotoCorp' would help in projecting the company a global motor vehicle company having a global footprint in the motor vehicle industry."

In Dec 2010, the Hero Group and Honda, the Japanese automobile firm agreed to bring to an end their two-and-a-half decade old relationship, with the former agreeing to buy out the latter's 26 per cent stake in Hero Honda for Rs 3,841.83 crore.

However under a new agreement, the two partners had, signed a new licensing agreement under which Hero Honda will pay Honda nearly Rs. 2,450 crore to the Japanese firm till 2014.

OneIndia News