BEIJING, China, November 5, 2013 - Honda Motor (China) Investment Co., Ltd. (HMCI), a wholly-owned Honda subsidiary in China, announced the establishment of a new wholly-owned subsidiary, Honda Motor China Technology Co., Ltd., with the goal of further strengthening Honda's automobile R&D, parts procurement and production functions in China. The existing functions of the Guangzhou Branch of HMCI will be transferred to the new company and further localized to expand Honda's automobile business in China. The new company is scheduled to become operational in January 2014 and already has a plan to build a new company facility in the city of Guangzhou and move into the new building in January 2016.
Honda has been making good progress in further localizing its business in China. For instance, among 12 brand-new or fully-changed all-new models which will be introduced to China during the three year period from 2013 to 2015, five of them are China exclusive models including two locally developed models. HMCI made a decision to establish a new subsidiary to reinforce automobile development, procurement and production functions necessary for its plans of further localization and expansion of operations in China.
Striving to provide good products to its customers with speed, affordability and low CO2 emissions, Honda will continue offering products that focus on its customers in China.
About Honda Motor China Technology Co., Ltd.
|Capital investment:||400 million R.M.B.|
|Representative:||Seiji Kuraishi, President|
|Location:||Guangzhou Economic and Technological Development Zone,
Guangdong Province, China
|Employment:||366 associates (as of November 2013)|
|Key business:||Automobile R&D, procurement planning and production planning|