Honda 's joint venture with China's Denway Motors will launch a cheaper car later this year aimed at the middle and low-end slice of China's booming car market, a company official told Reuters. "We will launch our first economy car in the middle of this year," Zeng Qinghong, vice general manager of Guangzhou Honda Automotive Co. Ltd., told Reuters this week on the sidelines of the annual session of the National People's Congress, or parliament.