Honda announced end of joint venture with Usha International and signed an agreement on complete divestment by UIL from Honda Siel Cars India. The company now will be a 100% Honda subsidiary in India.
Honda Japan plans to rejig the Indian operations and will have its new identity for car business in India by September-end.
“We have applied for the name change just a week back and it usually takes two to three weeks time. By the end of this month, the name change should happen,” HSCI Senior Vice President and Director Raman Kumar Sharma said”.
“The Honda name will of course be there in the identity. We will continue to have two different companies for two wheeler business and car business,” he said without disclosing the new name of the company that has been suggested to the Registrar of Companies.
Honda also plans to launch the Brio Automatic and the City with CNG option to end the year with new variant introductions. The will also shrink its car line-up by discontinuing the Accord and Civic petrol while increasing its focus on the Brio, Jazz and the City.
Honda may slip the new CR-V in India by 2013 and we can only hope the diesel will make it this time.
Source:ET
