WUHAN, China, July 25, 2011 - Dongfeng Honda Automobile Co., Ltd., an automobile production and sales joint venture of Honda in China, today held a ceremony to commemorate the 1 million unit milestone in cumulative automobile production. Attending the ceremony were leaders from local governments as well as Seiji Kuraishi, operating officer for Honda regional operations in China.
Dongfeng Honda has produced the CR-V since 2004, the Civic since 2006 and the Spirior since 2009, expanding its product lineup in accordance with the expanding needs of Chinese customers. The CR-V has been very popular among Chinese customers as a market-leading model and the industry’s best-selling vehicle in the SUV segment for four consecutive years since 2007. The cumulative production of CR-V since 2004 has reached 500,000 units.
Reflecting its strong sales, Dongfeng Honda has been expanding annual production capacity of its auto plant from the initial capacity of 30,000 units to 120,000 units in 2006 and to 240,000 units in 2010. In addition, Dongfeng Honda is currently constructing a second plant, which is scheduled to become operational in 2012 with an initial production capacity of 100,000 units, and an expansion of capacity to 120,000 units is already scheduled in 2013. With this expansion, the total annual production capacity of Dongfeng Honda will reach 360,000 units in 2013. Combined with the capacity of Guangqi Honda Automobile Co., Ltd., and Honda Automobile (China) Co., Ltd. (an export automobile production plant), Honda’s total annual automobile production capacity in China will reach 890,000 units in 2013.
|April 2004:||Began production of CR-V|
|April 2006:||Introduced Civic|
|July 2009||Cumulative production reached 500,000 units|
|September 2009:||Introduced Spirior|
|July 2011:||Cumulative production reached 1 million units|
|Capital:||US$ 350 million|
|Capitalization ratio:||50% Dongfeng Motor Group Co., Ltd.
40% Honda Motor Co., Ltd.
10% Honda Motor (China) Investment Co., Ltd.
|Employment:||Approximately 4,700 associates (as of June 30, 2011)|