Honda Motor Co. in Talks for Joint-venture in China

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Last updated at: (Beijing Time) Friday, June 07, 2002

Honda Motor Co. in Talks for Joint-venture in China

Honda Motor Co. is in talks with Guangzhou Automobile Group to establish its second passenger car joint-venture in China, Kyodo News reported Friday.

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Honda Motor Co. is in talks with Guangzhou Automobile Group to establish its second passenger car joint-venture in China, Kyodo News reported Friday.

The Japanese automaker will open the plant in the southern Chinese city of Guangzhou with operations slated to start as early as 2004, Kyodo said.

Honda hopes to acquire a majority stake in the new venture, which would be built at an estimated cost of 30-40 billion yen ( about 234 to 312 million U.S. dollars).

The new plant would be located near Guangzhou Honda Automobile Co., Honda's first joint venture set up in 1998 with Guangzhou Automobile, which is under the control of the Guangzhou municipal government.

It would have an annual output of 100,000 vehicles. They would most likely be subcompacts with engine capacities of less than 2000 cc and not only be marketed in China but also exported, Kyodo added.

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