Formerly known as Hero Honda, the company was a joint venture between Hero Cycles, India and Honda which started in 1984. The company did exceptionally well, but in 2010 Honda took a decision to move out on its own. Hero bought Honda's shares and in August 2011 the company was renamed Hero MotoCorp and received a new brand identity. Hero MotoCorp can now export to Latin America, Africa and West Asia. On 21 April 2014, Hero MotoCorp announced their plan on a $40 Million joint venture with Bangladesh's Notiol Niloy Group in the next five years. The company is the largest two wheeler manufacturer in the world and in India it has a market share of about 46% share in 2-wheeler category. Hero MotoCorp has four manufacturing facilities based at Dharuhera, Neemrana and Gurgaon in Haryana and at Haridwar in Uttarakhand. These plants together have a production capacity of 7.6 million two-wheelers annually.