 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Honda to build fifth plant in China: report
Tokyo (AFP) Dec 19, 2009 Japan's Honda Motor plans to build its fifth car plant in China to cope with mounting competition in the fast-growing auto market, according to a press report Saturday. The new plant, with an annual capacity of 120,000 units, will boost Honda's production in China by 20 percent to 730,000 units a year, the business daily Nikkei said. It will be built next to the existing factory of Honda's Chinese joint venture Dongfeng Honda Automobile in the central city of Wuhan and is due to be operational by 2011, the report said. Initial investment in the project is estimated at 20-30 billion yen (220-330 million dollars), the report added. No one was immediately available at Honda's head office in Tokyo to confirm the report. Car sales in China are forecast to exceed 13 million units this year with the communist nation replacing the United States as the world's biggest auto market, Nikkei said. Dongfeng Honda's annual production capacity is 200,000 units and the new plant will mainly produce the next all-new Civic subcompact model. Honda also assembles the Accord and other vehicles at two plants belonging to joint venture Guangqi Honda Automobiles based in the southern city of Guangzhou -- at an annual rate of 360,000 units. It also has another plant in China producing an annual 50,000 cars for export mainly to Europe, the daily said. Other Japanese carmakers are also trying to expand their share of the Chinese market, in which Volkswagen, South Korea's Hyundai, General Motors and Toyota all have significant stakes. Share This Article With Planet Earth
Related Links Car Technology at SpaceMart.com
Rising affluence sees Beijing cars pass four million markBeijing (AFP) Dec 19, 2009 Mao Chunchun and her husband stand in the sprawling Yayuncun Auto Market on the outskirts of Beijing eyeing Hyundai sports utility vehicles on offer for as much as 250,000 yuan (36,600 dollars). The couple are hunting for their third car just as Beijing traffic hits a new milestone with four million registered vehicles, according to state media. The spiralling number of cars on the roads ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2009 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook