News Releases 2002

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November 22, 2002

Honda Receives Government Certification in China for AutomobilePlant Exclusively for Exports

November 22, 2002, Tokyo - Honda Motor Co., Ltd. has announced that it has received government certification for a passenger car plant project exclusively for exports which it is planning for Guangzhou, China. Following the signing of a memorandum of understanding between three companies, Guangzhou Auto Group Corp., Dongfeng Motor Corp. and Honda Motor Co., Ltd. in July of this year, an application for the project was submitted to the Chinese government for certification. Having gained approval, Honda will now consider concrete details of the business plan between the three companies.

An outline of the approved project is shown below:

Production model  :  1-1.5L passenger vehicle
Production volume  :  50,000 units/year
Sales territory  :  Europe/Asian region (total production volume for export)
Capital investment  :  U.S.$193 million
Investment percentage  :  Honda Motor Co., Ltd. 65%
Guangzhou Auto Group Corp. 25%
Dongfeng Motor Corp. 10%
Location  :  Guangzhou Export Development District
Start of production  :  Latter half of 2004