China is definitely one of the most lucrative automobile markets in the world as it is growing rapidly. So, it is natural that automakers would like to have a strong foothold in China’s auto market. In fact, China is one of the fastest growing auto markets in the world. Keeping this in mind, Japanese auto maker Honda is now planning to open up a new plant in China, having seen demand rising in India.
Honda already has 4 car plants in China and the new plant will help Honda increase its production capacity in China significantly. This fifth plant will churn out 120,000 units per year, and thus, leading Honda’s total China production to 730,000 per year, 20% increase from the current capacity of production.
It is pretty much understandable that Honda does not want to lose its market to any other automaker in this highly potential Chinese market. After the economic recession is over, China’s auto market is gradually becoming stronger and stronger as government has also taken some good initiatives.
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