Aug 11, 2012: Honda Motor Corp, Japan based automobile major announced its buy out of Usha International for 180 crore. Usha has been a JV partner for Honda for the last 16 years. Usha International owner Siddharth Shriram will no longer be chairman and director of Honda Siel, which manufacturers the City, Jazz, Civic, Accord and CRV in India.
This buy out makes Honda the sole owner of the company.
