Japan's Honda Motor Co Ltd (NYSE:HMC) said Tuesday its subsidiary Yachiyo Industry Co Ltd will spend about 50 billion yen to build a new mini-vehicle plant in central Japan, aimed at improving efficiency and increasing market competitiveness.
The company plans to start assembling engines in the first half of 2009. It plans to begin assembly of mini-vehicles from the second half of 2010, said Honda.
The total annual production capacity of the new plant and an existing plant is 240,000 units, which is almost the same as the current output level, the company said.
( 1 US dollar = 102.10 yen)
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Tuesday, March 11, 2008
Japan's Honda unit to build new mini-vehicle plant for 50 billion yen
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