HSCI changes name to Honda Cars India
New Delhi: Japanese auto major Honda has changed the name of its Indian operations to Honda Cars India Ltd following the breakup of its joint venture with Usha International of the Shriram Group.
The erstwhile JV, Honda Siel Cars India (HSCI), will now become a 100 percent subsidiary of Honda in India.
"The name change will be with immediate effect as per the fresh Certificate of Incorporation issued by the Registrar of Companies, NCT of Delhi and Haryana," Honda Cars India Ltd (HCIL) said in a statement.
Last month, Honda bought out Usha International's entire 3.16 percent stake for Rs 180 crore in the joint venture, which was established in December 1995.
HCIL President & CEO Hironori Kanayama said the company was committed to the Indian market and would continue to bring latest products from Honda.