Honda Motor Co. is spending $246 million to develop a new brand of car for the Chinese market.
From Market Watch:
A joint venture between Honda Motor Co. (7267.TO) and Guangzhou Automobile Group Co. is looking to strengthen its research and development operations in a bid to produce vehicles that better suit the tastes of Chinese consumers.A spokesman at Honda Motor (China) Investment, which is in charge of Honda’s operations in China, said Tuesday that Guangzhou Honda Automobile Co. is considering new R&D projects so it will be able to design vehicles specifically for the Chinese market on its own in the future. [Full Text]
See also the supplementary article from Market Watch on Honda’s China operations.
