Honda evades query on future of ties with Hero | autos | Hindustan Times
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Honda evades query on future of ties with Hero

autos Updated: Nov 30, 2010 22:06 IST
Sumant Banerji

With reports of an impending divorce in the Hero Honda joint venture flying thick and fast, Honda Motor Corporation chose to evade questions on the future of the tie up.

The joint venture, which completed 25 years last year and is one of the most successful global automobile tie-ups, is reportedly living its last days, with the Munjal family of the Hero Group negotiating to buy out Honda's 26% stake in the firm. A clutch of private equity firms are reported to be part of the deal.

"We are right now focussed on the Brio and though there have been many snippets about the joint venture, we would not like to comment," said Fumihiko Ike, president and CEO, Asian Honda.

Honda president Takanobu Ito paid tribute to the longevity of the relationship. "I was in India last year to celebrate the 25th year of the joint venture... I was and remain very happy and delighted to have this 25-year-old-venture."