![]() ![]() ![]() India’s Munjal family, owner of the diversified Hero Group, owns a 26 percent stake in the joint venture. For example, MSIL, the largest passenger car manufacturer in India, has pursued a strategy of inter-firm partnership, but its home-country rival, Honda. ![]() “We can now capitalise on diverse market opportunites including large export markets and new product categories and segments,” Hero Honda chief executive Pawan Munjal told reporters in New Delhi. The Hero Group, for its part, hopes to explore new products and export opportunities now it has been released from a ban on exporting to markets where Honda has a presence. Selling out of the venture gives Honda the freedom to go it alone in the world’s second-largest market for two-wheelers, where it is building its second wholly-owned motorcycle plant. Hero Honda, which makes the CD range of bikes, Splendour, Glamour and Pleasure scooters, is India’s largest motorcycle manufacturer, with more than half the domestic market. Honda’s stake in Hero Honda, formed in 1984, has a market value of nearly $2 billion. The companies did not disclose financial details of the deal on Thursday. File photo of a worker cleaning a Hero Honda logo inside its showroom in Hyderabad April 19, 2010. ![]()
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