Honda Invests Big in Electric Vehicle Joint Venture

Honda Motor, together with the electric vehicle company it established in partnership with Sony, whose name we have told you recently, is in this field. that you plan to make a large investment had announced.

Now, it has been learned that the automotive giant will make a huge investment in the electric vehicle manufacturing factory called Guangzhou Automobile Group in China. Let’s take a look at the details of Honda’s investment together.

Honda invests $522 million in electric vehicle manufacturing plant in China

Honda Motor has purchased an electric vehicle factory in Guangdong province, China for 3.49 billion yuan ($522 million) announced its intention to invest. The electric vehicle plant, a joint venture with Guangzhou Automobile Group, 120.000 pieces of production with its capacity It aims to be operational in 2024.

Honda also stated that another electric car plant in China, in a joint venture with Dongfeng Motor Group, is scheduled to start operations in 2024. The Japanese automaker expects annual auto production capacity in China to increase by about 16% in two years. to reach 1.73 million units predicts.

Honda appears keen to strengthen partnerships after shareholders’ criticism that its electric vehicle strategy is lagging behind other major manufacturers. What are you thinking? Please do not forget to share your thoughts with us in the comments.