Hero Honda Hero Honda was formed as a joint venture between Hero Group and Honda Motor Company, a Japanese conglomerate, in 1984. The joint venture formed was named Hero Honda Motors Ltd. Hero Group planned to enter the two-wheeler segment and had a foothold in the Indian market. Honda Motor wished to enter the Indian market and had the relevant technology and experience in selling products. The joint venture benefited both the parties by making Honda a well-known brand and providing Hero Honda with the relevant technology. Since 2001, the company is the largest two-wheeler manufacturer globally. In 2010-11, Hero Group bought Honda's stake in the company, and it was renamed Hero MotoCorp.