Its official and its been approved now.
A few weeks back we reported that Hero Honda is planning to rename itself as Hero Moto. The company’s new name has now been finalized as Hero MotoCorp Limited, at least by the Registrar of Companies. According to Hero, 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.”
Hero Honda has spent close to Rs. 175 crore on its rebranding exercise, to make sure the brand is as identifiable with its patrons as Hero Honda after the name change. Honda will continue to supply technical support to Hero till 2014.
The shareholders of Hero Honda have approved the changing of the name of the company to Hero MotoCorp Ltd, post the exit of Japan’s Honda from the Munjals-promoted firm. The proposal was approved by the shareholders at the extraordinary general meeting of the company which was held today.
The Hero Group and Honda have now signed a new licensing agreement under which Hero will pay Honda around Rs 2,450 crore till 2014.
There has been rumours of a diesel-powered ‘big’ bike and a dirt bike going to be launched by ‘hero’ is this their first step in creating a new ‘moto’ image for themselves?
We will find out soon…