Amidst persistent rumors of an impending split between Hero Honda and HMSI (Honda), lets try to unearth what could be the implications if the split really does take place

(Photo Credit: ibiTimes)
"Hero" Splendor, "Hero" Passion, "Hero" Karizma..!! How does it sound?
After years of my ears getting tuned to hearing the name "Hero Honda" being uttered in unison, it really sounds quite odd to my ears.
In any case, Hero can’t rely forever on Honda for technology..
Of late there has been a lot of (bad?) press about an impending split between India’s Hero Group and its Japanese technology partner Honda. Although there has not been any official confirmation of the same, but something tells me that this time there is some fire somewhere for this smoke to appear.
News about the Hero and Honda split:
Hindustan Times, Business Standard, The Economic Times, The Hindu Businessline
If the news of the split between Hero and Honda is really true then this is a really BIG deal. After all the 25 plus year old Joint Venture has resulted in making Hero Honda as the "Largest Two Wheeler manufacturer in the world"..!!
But why would Hero and Honda want to split one of the most profitable joint venture in the history of two wheelers? What could be the implication for both Hero and Honda? Who might profit? Who might lose? Will the competition stand to gain from this split?
More of that a little bit later, but first..
What is a Joint Venture?