After parting ways with its 16-year-long associate Usha International Ltd. (UIL) recently, Honda Siel Cars India Limited (HSCI) has now decided to change its name with immediate effect. HSCI will be known as Honda Cars India Limited henceforth.
Honda has bought out UIL’s 3.16 percent stake for a whopping Rs 180 crore. HCIL is now a 100 percent Honda subsidiary in India.
Throwing more light on this, Hironori Kanayama, president and CEO, Honda Cars India Limited (HCIL), commented, “We are committed to the Indian market and will continue to delight our customers with the latest products from Honda, which will enrich their lives and enhance their lifestyles. Honda’s quality, superior technology and overall ownership experience is what has endeared this brand to our customers since its inception, and the same philosophy will drive us in the future.”