Founding Chairman of Honda Cars India, Siddharth Shriram, passes away

He was also the Chairman of multiple other companies during his lifetime, thereby cementing his name amongst the industry doyens.

By:May 19, 2021 11:13 AM

Siddharth Shriram, the founding Chairman of Honda Cars India, has passed away. It is being reported that the 76-year old passed away due to Covid-19 complications. He was earlier admitted to a hospital in Gurugram. He was also the former chairman of Usha International. Through the latter, he forged a relationship with Honda Japan for bringing in small cars to India as well as power products. Due to this the company called Honda Siel Cars India Limited was formed in 1995, with the first new car to be launched under this banner being the Honda City in 1998. HSCIL though sold off its 3.16 per cent share to Honda Japan in 2021. The company is now known as Honda Cars India Limited and sells a variety of car models. There are factories in Greater Noida as well as Rajasthan.

 

HCIL currently has the Honda Jazz, WR-V, City (old and new generations), and the Amaze on sale in the Indian market. The company recently announced a restructuring wherein its Greater Noida plant will not be used for making cars. At the same time, the Honda Civic and CR-V models were axed for the Indian car market. There are no talks of any new models coming in though the BR-V replacement shown in Indonesia might be just apt for our market as well. The Honda N7X is a petrol model though we believe the 1.5-litre that HCIL has might be shoehorned into it. A diesel 7-seater adds a bit more appeal for the Indian market conditions.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Latest Auto News