Honda plans to set up a new plant to manufacture key components for hybrid cars, the Nihon Keizai Shimbun reported, according to Kyodo News.
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The plant, due to go on-line in 2008, will enable the car maker to quadruple annual output of electric motors to 200,000 units and reduce the cost of making a small hybrid car scheduled to be released in 2009, the business daily said.
The facility, expected to cost about JPY8bn, will have floor space of about 15,000m2 and will be built on the site of Honda’s Suzuka factory in Mie Prefecture.
