(MENAFN) The Japanese automaker, Honda, announced in a statement on its website that it will invest USD436m with Dongfeng Motor Group in a new factory in China.
In details, it confirmed a Reuters poll released on October that cited sourced saying Honda will build new factory by 2019 with annual production capacity of 120,000 vehicles.
As Honda had an explosive growth in China during the past two years, in spite of the economic slowdown, attracting consumers with strong new offerings in the rapidly growing sport-utility vehicle (SUV) segment
However, Honda sales increased 28.3% year-on-year in the first 11 months this year.
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