Honda to build original cars in China
Honda Motor Co. said Wednesday it would become the world's first foreign automaker to develop and market cars under an original brand in China.
Honda President Takeo Fukui told a Tokyo news conference vehicles bearing the new brand - which he did not identify but said would be different from the existing Honda brand - will be sold in China as early as 2010. Guangzhou Honda Automobile Co., the company's auto joint venture in China, will establish a $246 million research and development subsidiary in the southern China city of Guangzhou, formerly known by the English-language name Canton, the Kyodo News service reported. The R&D subsidiary, to be located in a compound covering more than two square miles, will have a full-scale test course, Fukui said. The joint venture has received approval from China to begin engine production, he added. (monstersandcritics.com)
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