Hero Group, Honda Motor renew pact

Japan's Honda Motor Company on Wednesday renewed its technical collaboration agreement with Hero Honda Motors for 10 years.

The agreement was signed between Honda Motor Company's managing director and chief operating officer for regional operations (Asia and Oceania) S Toshida and Hero Honda Motors managing director Pawan Munjal.

Hero Honda Motors had inked an equity and technical collaboration agreement with Honda Motor Company in 1984, which was renewed in 1994. Today, the agreement was extended for another 10 years.

Hero Group and Honda Motor Company hold 26 per cent each in Hero Honda Motors while the rest is held by the public.