Honda to quit scooter joint venture in India
Asian Economic News, Sept 14, 1998
TOKYO, Sept. 8 Kyodo
Honda Motor Co. will dissolve a joint venture with Kinetic Engineering Ltd. of India producing motor scooters, as demand for them in the country is unlikely to increase, company officials said Tuesday.
Honda owns 51% of the joint venture, Kinetic Honda Motor Ltd., capitalized at some 150 million rupees (about 3.6 million dollars), and will sell its shares to other Indian companies, they said.
The Japanese automaker will continue providing the Indian partner with technical support, but scooters produced will be branded Kinetic, not Honda, according to the officials.
Honda has another joint venture in India producing 100 cc motorcycles and will focus on managing that, they said.
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