JAPAN: Honda starts car exports from China
Honda Motor on Friday began exporting Chinese-made Jazz [Fit] compact cars to Europe, the Associated Press (AP) reported.
Honda executives and local Chinese officials attended a ceremony to see off the first shipment of 150 cars at the southern port of Guangzhou, the report said.
According to AP, Honda said it expects its Chinese joint venture with China's Guangzhou Auto Group Co., Ltd. and Dongfeng Motor Group Co., Ltd. to produce 10,000 of the cars this year, all of which will be exported to Germany and other European markets.
The Associated Press noted that Honda is the first company to begin full-scale exports of Chinese-made cars to Europe - its Chinese joint venture, Honda Automobile (China) Co., Ltd. was established in September 2003 with an investment of $82 million and has an annual production capacity of 50,000 cars.
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