Company Honda Automotive Announced its joint venture with Guangzhou in China, and on this basis, Honda electric vehicles will be manufactured in China from now on.
Honda and Guangzhou joint venture will start operations with a capacity of 120,000 units in 2024. The initial cost of building the plant will be 3.49 billion yuan. Follow us with this news to get acquainted with the details of Honda and Guangzhou self-manufacturing cooperation in China.
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Honda electric cars in China
According to Honda, the Japanese company has partnered with Guangzhou-based China to build an electric car plant. The plant is located in China’s Guangdong Province and requires an initial investment of about 3.49 billion yuan ($ 522 million) to build, provided by two factories.
According to the statement, the carmaker is scheduled to start operating in 2024. This factory has a production capacity of about 120,000 units.
According to Honda, there is another plant in China that has started a joint venture with Dongfeng Motor Group. The plant also produces electric vehicles and is expected to start operating by 2024.
According to the Japanese automaker, China’s annual car production capacity will increase by 16%. With this increase in capacity, about 1.73 million units will be produced in the next two years.
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