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Corporate April
12, 2001 |
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| Honda Announces Two-Wheeler Business Plan for India |
Tokyo, April 12, 2001 --- Honda
Motor Co., Ltd., together with Hero Honda Motors Ltd., a joint venture company,
and subsidiary Honda Motorcycle & Scooter India (Private) Ltd. (HMSI), today
announced their two-wheeler business plans for India, targeting annual sales
of 1.75 million units in FY 2003.
This number represents 25% of the world-wide seven million unit target that
Honda set last May for two-wheeler production and sales.
India represents one of Honda's most important production and export bases
for finished products and parts in the two-wheeler market. In collaboration
with local partners, Honda is investigating how to fully utilize their respective
strengths.
Through a 17-year cooperative relationship with Honda, Hero Honda has grown
to become a leading motorcycle manufacturer and in FY 2001, produced and
sold about 1.03 million motorcycles. In the future, with an additional investment
of 3 billion rupees, production capacity will be increased to 1.5 million
units. The future line-up will be expanded to include a new model in addition
to the "JOY," which will be introduced tomorrow.
On April 12, the new company HMSI conducted a line off of the "Honda Activa,"
its first model, and plans to increase production capacity to 250,000 units
by FY2003. HMSI has applied to the State of Haryana for the purchase of
a plot of land measuring 100,000 square meters located next to the existing
factory, to be used for future production expansion.
Honda will actively support both companies to enable them to fully develop
their growth potential in both local and overseas markets in a spirit of
"mutual benefit and prosperity"
Outline of Hero Honda Motors Ltd.
| Established : |
January 1984 |
| Capital : |
399.375 million rupee (about 1.16 billion yen) |
| Capitalization ratio : |
Honda Motor Co., Ltd. 26%
Hero Group 26%
Others 48% (listing) |
| Location : |
New Delhi |
| Representative : |
President Brijmohan Lall |
| Number of employees : |
3,800 |
| Major production model : |
Splendor 100cc, Passion 100cc, CBZ |
Outline of Honda Motorcycle & Scooter India (Private) Ltd.
| Established : |
October 1999 |
| Capital : |
2 billion rupees (about 5.8 billion yen) |
| Capitalization ratio : |
Honda Motor Co., Ltd. 100% |
| Location : |
Gurgaon district in the suburbs of Delhi, India |
| Representative : |
President Haruo Takiguchi |
| Number of employees : |
327 |
| Production capacity : |
100,000 units/year established |
(* 1 Rupee = 2.9 yen as of April 5, 2001) |
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