Hero Honda
| Public company | |
| Traded as | : : BSE SENSEX Constituent |
| Industry | Automotive |
| Founded | January 19, 1984 |
| Founder | Dr. Brijmohan lal Munjal. |
| Headquarters | Gurgaon, India |
|
Key people
|
Dr. Brij Mohan Lal Munjal (Chairman Emeritus) (Dead ) Pawan Munjal (Chairman, MD & CEO) |
| Products | Motorcycles, Scooters |
| Revenue |  ₹241.66 billion (US$3.8 billion) (2013) |
| ₹33.22 billion (US$520 million) (2013) |
|
| ₹21.18 billion (US$330 million) (2013) |
|
| Total assets | ₹53.08 billion (US$820 million) (2013) |
|
Number of employees
|
5,842 |
| Parent | Hero Cycles |
| Website | |
Hero Motocorp Ltd., formerly Hero Honda, is an Indian motorcycle (<250cc) and scooter manufacturer based in New Delhi, India. The company is the largest two-wheeler manufacturer in India where it has a market share of about 46% in the two-wheeler category. The 2006 Forbes list of the 200 World's Most Respected Companies has Hero Honda Motors ranked at #108. On 31 March 2013, the market capitalisation of the company was ₹308 billion (US$4.8 billion).
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. In 2010, when Honda decided to move out of the joint venture, Hero Group bought the shares held by Honda. Subsequently, in August 2011 the company was renamed Hero MotoCorp with a new corporate identity.
In June 2012, Hero MotoCorp approved a proposal to merge the investment arm of its parent Hero Investment Pvt. Ltd. with the automaker. This decision came 18 months after its split from Hero Honda.
"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.
During the 1980s, the company introduced motorcycles that were popular in India for their fuel economy and low cost. A popular advertising campaign based on the slogan 'Fill it – Shut it – Forget it' that emphasised the motorcycle's fuel efficiency helped the company grow at a double-digit pace since inception. In 2001, the company became the largest two-wheeler manufacturing company in India and globally. It maintains global industry leadership to date. The technology in the bikes of Hero Motocorp (earlier Hero Honda) for almost 26 years (1984–2010) has come from the Japanese counterpart Honda.
By 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 Hero Group would buy out the 26% stake of the Honda in JV Hero Honda. Under the joint venture Hero Group could not export to international markets (except Nepal, Bangladesh and Sri Lanka) and the termination would mean that Hero Group could now export. Since the beginning, the Hero Group relied on their Japanese partner Honda for the technology in their bikes. Now there are concerns that the Hero Group might not be able to sustain the performance of the joint venture by itself.
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Wikipedia