type public company traded as bse 500182 nse heromotoco bse sensex constituent industry automotive founded january 19 1984 founder dr. brijmohan lall munjal headquarters gurgaon india key people dr. brijmohan lall munjal chairman emeritus died 2015 pawan munjal chairman md & ceo 1 products motorcycles scooters revenue 241.66 billion us 3.6 billion 2013 2 operating income 33.22 billion us 490 million 2013 3 net income 21.18 billion us 310 million 2013 2 total assets 53.08 billion us 790 million 2013 number of employees 5 842 2 parent hero cycles website www.heromotocorp.com hero motocorp ltd. formerly hero honda is an indian motorcycle 250cc and scooter manufacturer based in new delhi india . the company is the largest two wheeler manufacturer in india . 2 in india it has a market share of about 46 % share in 2 wheeler category . 2 4 the 2006 forbes 200 most respected companies list has hero honda motors ranked at 108 . 5 on 31 march 2013 the market capitalisation of the company was 308 billion us 4.6 billion . 6 contents 1 history 2 company timeline 3 termination of honda joint venture 4 sports association 5 formation of hero motocorp 6 49 % stake in erik buell racing 7 operations 8 products 8.1 current lineup 8.2 discontinued 8.3 in development 8.4 prototype 9 company performance 10 listings and shareholding 11 employees 12 awards and recognition 13 initiatives 14 see also 15 references 16 external links history edit hero honda started its operations in 1984 as a joint venture between hero cycles sometimes called hero group not to be confused with the hero group food company of switzerland of india and honda of japan . 7 in 2010 when honda decided to move out of the joint venture hero group bought the shares held by honda . 8 9 subsequently in august 2011 the company was renamed hero motocorp with a new corporate identity . 10 in june 2012 hero motocorp approved a proposal to merge the investment arm of its parent hero investment pvt. ltd. with the automaker . the decision comes 18 months after its split from hero honda . 11 hero is the brand name used by the munjal brothers for their flagship company hero cycles ltd. a joint venture between the hero group and honda motor company was established in 1984 as the hero honda motors limited at dharuhera india . munjal family and honda group both owned 26 % stake in the company . during the 1980s the company introduced motorcycles that were popular in india for their fuel economy and low cost . a popular advertising campaign based on the slogan fill it shut it forget it that emphasised the motorcycle s fuel efficiency helped the company grow at a double digit pace since inception . in 2001 the company became the largest two wheeler manufacturing company in india and globally . 2 it maintains global industry leadership to date . 2 the technology in the bikes of hero motocorp earlier hero honda for almost 26 years 1984 2010 has come from the japanese counterpart honda . 12 company timeline edit 1956 formation of hero cycles in ludhiana hero majestic auto limited 1975 hero cycles becomes largest bicycle manufacturer in india 1983 joint collaboration agreement with honda motor co. ltd. japan signed shareholders agreement signed 1984 hero honda motors ltd. incorporated 1985 hero honda motorcycle cd 100 launched . 1989 hero honda motorcycle sleek launched 1991 hero honda motorcycle cd 100 ss launched 1994 hero honda motorcycle splendor launched 1997 hero honda motorcycle street launched 1999 hero honda motorcycle cbz launched 2001 hero honda motorcycle passion and hero honda joy launched 2002 hero honda motorcycle dawn and hero honda motorcycle ambition launched 2003 hero honda motorcycle cd dawn hero honda motorcycle splendor plus hero honda motorcycle passion plus and hero honda motorcycle karizma launched 2004 hero honda motorcycle ambition 135 and hero honda motorcycle cbz star launched 2005 hero motocorp supersplendor hero honda motorcycle cd deluxe hero honda motorcycle glamour hero honda motorcycle achiever and hero honda scooter pleasure 2007 new models of hero honda motorcycle splendor nxg new models of hero honda motorcycle cd deluxe new models of hero honda motorcycle passion plus and hero honda motorcycle hunk launched 2008 new models of hero honda motorcycles pleasure cbz xtreme glamour glamour fi and hero honda motorcycle passion pro launched 2009 new models of hero honda motorcycle karizma karizma zmr and limited edition of hero honda motorcycle hunk launched 2010 new models of hero honda motorcycle splendor pro and new hero honda motorcycle hunk and new hero honda motorcycle super splendor launched 2011 new models of hero honda motorcycles glamour glamour fi cbz xtreme karizma launched . new licensing arrangement signed between hero and honda . in august hero and honda parted company thus forming hero motocorp and honda moving out of the hero honda joint venture . in november hero launched its first ever off road bike named hero impulse . 2012 new models of hero motocorp maestro the musculine scooter and ignitor the young generation bike were launched 2013 hero motocorp unveiled line up of 15 updated products including karizma r zmr xtreme pleasure splendor pro splendor ismart hf deluxe eco hero motocorp supersplendor passion pro and xpro glamour and glamour fi etc. it also introduced three new technologies engine immobilizer in new xtreme integrated braking system ibs in new pleasure and i3s idle stop and start system in new splendor ismart 13 2014 hero motocorp launched splendor pro classic xtreme sports and new models of karizma zmr karizma r maestro and pleasure . 2014 in october 2014 hero updated its 100cc engine range on passion pro and splendor pro classic 2014 hero invests 25 million into american motorcycle manufacturer ebr erik buell racing termination of honda joint venture edit in december 2010 the board of directors of the hero honda group had decided to terminate the joint venture between hero group of india and honda of japan in a phased manner . the hero group would buy out the 26 % stake of the honda in jv hero honda . 14 logo of hero honda as the company was known till august 2011 under the joint venture hero group could not export to international markets except nepal bangladesh and sri lanka and the termination would mean that hero group can now export . since the beginning the hero group relied on their japanese partner honda for the technology in their bikes . so there are concerns that the hero group might not be able to sustain the performance of the joint venture alone . 15 the japanese auto maker will exit the joint venture through a series of offmarket transactions by giving the munjal family that held a 26 % stake in the company an additional 26 % . honda which also has an independent fully owned twowheeler subsidiary honda motorcycle and scooter india hmsi will exit hero honda at a discount and get over 1 billion for its stake . the discount will be between 30 % and 50 % to the current value of honda s stake as per the price of the stock after the market closed on december 16 2010 . 16 the rising differences between the two partners gradually emerged as an irritant . differences had been brewing for a few years before the split over a variety of issues ranging from honda s reluctance to fully and freely share technology with hero despite a 10 year technology tie up that expires in 2014 as well as indian partner s uneasiness over high royalty payouts to the japanese company . another major irritant for honda was the refusal of hero honda mainly managed by the munjal family to merge the company s spare parts business with honda s new fully owned subsidiary honda motorcycle and scooter india hmsi . 16 as per the arrangement it will be a two leg deal . in the first part the munjal family led by brijmohan lal munjal group will form an overseas incorporated special purpose vehicle spv to buy out honda s entire stake which will be backed by bridge loans . this spv would eventually be thrown open for private equity participation and those in the fray include warburg pincus kohlberg kravis roberts kkr tpg bain capital and carlyle group . 17 honda will continue to provide technology to hero honda motorbikes until 2014 for existing as well as future models . 18 sports association edit this section does not cite any sources . please help improve this section by adding citations to reliable sources . unsourced material may be challenged and removed . july 2016 learn how and when to remove this template message hero motocorp began its association with the prestigious indian open golf tournament in 2005 . the tournament has helped catapult the popularity of golf in india . illustrious golfers from around the world participate in this annual event which boasts of the largest prize fund sanctioned solely by the asian tour . hero motocorp the india s largest manufacturer of two wheelers took over title sponsorship of the world challenge hero world challenge hero is committed to sponsor hockey and promote and popularize the sport which is popular in india inly after cricket . in 2010 hero motocorp extended its support to hockey by sponsoring the hockey world cup 2010 that was held in india . 2 years after this hero motocorp was also the sponsor of the fih road to london 2012 tournament . the company is proud to associate with and will continue to endorse this great sport in the future . our association with cricket goes a long way . hero motocorp has in the past sponsored major cricket tournaments in association with international cricket council icc including the cricket world cup and the champions trophy . hero has also been associated with ipl . formation of hero motocorp edit the name of the company was changed from hero honda motors limited to hero motocorp limited on 29 july 2011 . 2 the new brand identity and logo of hero motocorp were developed by the british firm wolff olins . 19 the logo was revealed on 9 august 2011 in london to coincide with the third test match between england and india . 19 hero motocorp can no1800 266 0018w export to latin america africa and west asia . 19 hero is free to use any vendor for its components instead of just honda approved vendors . 19 on 21 april 2014 hero motocorp announced their plan on a us 40 million joint venture with bangladesh s notiol niloy group in the next five years . 20 also hero updated its 100cc engine range in 2014 for 100cc bikes except hero dawn . 49 % stake in erik buell racing edit in july 2013 hmc acquired 49.2 % 21 shareholding in erik buell racing a motorcycle sport company which produced street and racing motorcycles based in east troy wisconsin united states . ebr filed for bankruptcy in 2015 22 and hero motocorp proceed to acquire certain assets for us 2.8 million . 23 operations edit hero motocorp has four manufacturing facilities based at dharuhera neemrana and gurgaon in haryana and at haridwar in uttarakhand . these plants together have a production capacity of 7.6 million 2 wheelers per year . read more hero motocorp has a sales and service network with over 6 000 dealerships and service points across india . it has a customer loyalty program since 2000 called the hero honda passport program which is now known as hero goodlife program . hero goodlife it is reported that hero motocorp has five joint ventures or associate companies munjal showa ag industries sunbeam auto rockman industries and satyam auto components that supply a majority of its components . 24 the company has a stated aim of achieving revenues of 10 billion and volumes