Honda subsidiary Yachiyo Industry on Tuesday confirmed earlier newspaper reports it would build a new minivehicle plant at Yokkaichi in Mie prefecture, southwest of Nagoya, in central Japan, with engine production set to start in 2009, and car production a year later.
Production capacity, when combined with an older nearby plant, will total 240,000 a year, and the new plant would make minivehicles such as the Life and Zest models, Honda said in a statement.
The automaker is investing JPY50bn ($US491m; EUR320m) in the new plant as part of an effort to strengthen its mini-vehicle business, it said.
Honda said it would consolidate minivehicle component production on the one site and divide production of four model lines by type between existing and new factories.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData