New Delhi, March 21 (IANS) Within three months of announcing its exit from the joint-venture firm Hero Honda, Japanese auto maker Honda Motors said Monday it would introduce a low-cost 100-cc bike in India next year and invest heavily in the country to expand production capacity.
“Until now we had not entered the mass segment because of the joint venture. Now we can. From next year we plan to introduce a mass segment motorcycle in 100cc category in India,” Shinji Aoyama, outgoing president and Chief Executive Officer of Honda Motorcycle and Scooter India Pvt Ltd, a wholly owned subsidiary of Honda Motor, told reporters here.
Aoyama said Honda Motors target to become number one motorcycle maker in India in 10 years.
India’s Hero Group and Honda Motors announced in December last year that they had decided to part ways from the joint venture firm Hero Honda established in 1984.
Currently, Hero Honda is the world’s largest manufacturer of two-wheelers and controls more than half of the India’s motorcycle market.