Honda to build original cars in China

Automotive

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)

ADVERTISEMENT

GKI raises 2022 GDP growth forecast  Analysis

GKI raises 2022 GDP growth forecast 

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group Appointments

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group

Budapest City Council to take out HUF 32 bln development loa... City

Budapest City Council to take out HUF 32 bln development loa...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.