New Delhi, December 10, 2004 --- Honda Motor Co., Ltd. today announced that Hero Honda Motors Ltd., a Honda motorcycle production and sales joint venture in India, commemorated the company's 20th anniversary, together with two key production milestones - cumulative production of 10 million units, and production of 5 million units of the Splendor model. Honda Motor Co., Ltd. President & CEO Takeo Fukui and Hero Honda Chairman Brijmohan Lall Munjal joined with more than 2,000 Hero Honda associates and business partners at a ceremony at Hero Honda's Gurgaon Plant.
Based on Honda's longstanding commitment to "build products close to the customer," Honda established Hero Honda as a joint venture in India in 1984, and began local production in 1985. Hero Honda expanded its operation focusing primarily on smaller motorcycles, with annual production in 2003 reaching a Honda world record for a single location of 1.85 million units. At the end of November, year-to-date production for this year totaled 2.26 million units, already surpassing the previous yearly record total set in 2003.
"The 10 million unit production milestone was achieved because Indian customers recognized the quality and value of motorcycles produced by Hero Honda," said Fukui. "I would like to express my sincere appreciation to our distributors, customers, associates, and partners who supported this achievement."
Hero Honda Motors Ltd,
|Start of Production||:||May 1985|
|Location||:||New Delhi, India|
|Capital Investment||:||399.375 million rupee|
|Capitalization Ratio||:||26% Honda Motor Co., Ltd.
26% Hero Group.
48% other shareholders
|Representative||:||Brijmohan Lall Munjal, Chairman
Pawan Kant Munjal, President
Akio Kazusa, Vice-President
|Business||:||Production and sales of motorcycles|
|Employment||:||Approx. 7,500 associates (as of November 2004)|
|Annual Capacity||:||2.5 million units (two plants with capacity of 1.25 million each)|
|Production Models||:||Splendor (100cc), CD-Dawn (100cc) and others|