Speaking to NDTV in Davos, Pawan Munjal, MD and CEO of Hero Group, said both Hero Group and Honda have recently signed final binding agreement and Hero Group will now be buying shares of Honda. After the split, Honda will continue to provide technology support to the Munjal-led Hero Honda for new and existing products. Munjal said the group will be pursuing independent R&D plans while also aggressively looking at export markets.
