Japan's Honda is building a new factory in China as it looks to reach further into the booming Chinese auto market, though nothing official has as yet been announced. The company said on Tuesday that its first plant would be built at an unspecified location near Shanghai. Honda, along with its partner Dongfeng Motor Group, is experiencing explosive growth in China with sales for the joint venture rocketing 48% for the year to date, primarily due to the popularity of the XR-V SUV, as well as the recently launched Civic sedan. In China, vehicle sales strengthened in September for a consecutive fifth month, rising to a three-and-a-half year high.
Japan's Honda is building a new factory in China as it looks to reach further into the booming Chinese auto market, though nothing official has as yet been announced. This would also mark a 20% boost from Honda's current Chinese factory capacity of 1.08 million units - it already has several factories in China. Honda, along with its partner Dongfeng Motor Group, is experiencing explosive growth in China with sales for the joint venture rocketing 48% for the year to date, primarily due to the popularity of the XR-V SUV, as well as the recently launched Civic sedan. In China, vehicle sales strengthened in September for a consecutive fifth month, rising to a three-and-a-half year high.