Hero Motocorp Ltd., formerly Hero Honda, is an Indian motorcycle and scooter manufacturer based in New Delhi, India. Hero Honda started in 1984 as a joint venture between Hero Cycles of India and Honda of Japan.[4] The company is the largest two wheeler manufacturer in India.[5] The 2006 Forbes 200 Most Respected companies list has Hero Honda Motors ranked at #108.[6] In 2010, when Honda decided to move out of the joint venture,[7] Hero Group bought the shares held by Honda.[8] Subsequently, in August 2011 the company was renamed Hero MotoCorp with a new corporate identity.[9] On 4 June 2012,Hero Motocorp approved a proposal to merge the investment arm of its parent Hero Investment Pvt. Ltd. into the automaker. The decision comes after 18 months of its split from Honda Motors.[10]