Honda Siel Cars Limited (HSCI) has changed its name to Honda Cars India Limited (HCIL) after buying out its partner Usha International limited ending a sixteen-year-old joint venture. 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.
Speaking on the development, Hironori Kanayama, President & CEO, Honda Cars India Limited said, “Honda’s quality, superior technology and overall ownership experience is what has endeared this brand to our customers since inception and same philosophy will drive us in future.”
We had earlier reported that Honda had purchased the 3.16 per cent Siel owned through Usha international for Rs 100 a share, making the sale worth RS 180 crore. Just like Honda two-wheelers, Honda Cars India is now also a wholly owned subsidiary of Honda Motors, Japan.
