Hero MotoCorp will be the new name for Hero Honda Motors, a change necessitated by the end of the equity partnership between Hero Honda and Honda Motors of Japan. Honda sold its stake in the company to the Hero group and agreed to continue technical support for another 5 years.
Hero Honda announced today that it has got approval from the registrar of companies for the name change and is now seeking shareholder approval for the same. The company said that the decision to use MotoCorp was to “project the company as a global motor vehicle company having a global footprint in the motor vehicle industry.”
The company is also amending its Articles of Association to reflect the change from a dual promoter structure to a sole promoter structure. An extraordinary general meeting will be held on June 17 to approve these changes.