Honda Stops Two Factories In China Due To Falling Demand For Gasoline Cars
Date
7/25/2024 3:12:34 PM
(MENAFN- AzerNews)
By Alimat Aliyeva
The Japanese Honda Corporation is ceasing production at its two
gasoline car factories in China, where demand for Chinese-made
electric vehicles is sharply expanding in an environment of intense
competition, Azernews reports.
According to her, the company currently has six factories in
China. One of them will be closed, the other will suspend work.
These enterprises can produce a total of 290 thousand gasoline cars
per year. This is 20% of Honda's capacity in China.
At the same time, the corporation intends to launch two electric
vehicle production plants in China. Thus, Honda hopes to maintain
its weakening position in the extremely promising Chinese market,
NHK notes.
According to the TV company, other Japanese automakers in China
also found themselves in a difficult situation. Due to intense
competition, Mitsubishi decided in October last year to completely
withdraw from China. Nissan, according to NHK, is also facing the
need to seriously rethink its strategy in China, including shutting
down work at one of the factories.
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