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Honda Confirms Plans for New Brazil Car Factory
Honda Motor Co. intends to double its vehicle production capacity in Brazil by erecting a new 1 billion-real ($435 million) assembly plant in Itirapina, Brazil.
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Honda Motor Co. intends to double its vehicle production capacity in Brazil by erecting a new 1 billion-real ($435 million) assembly plant in Itirapina, Brazil.
The facility, which is scheduled to begin making subcompacts in 2015, will add 120,000 units of capacity. The company says it will hire 2,000 employees in Itirapina, which is about 120 miles northwest of Sao Paulo.
Honda currently produces the City, Civic and Fit small cars at its first Brazilian plant, which is located in Sumare. The company says it will set up a new R&D center there before year-end.
The Brazil investments will help Honda meet its target of selling 6 million vehicles worldwide in the fiscal year that ends in March 2017 half of them in emerging markets. Such countries accounted for one-third of the 3.81 million units the company sold in 2012.
Honda boosted its sales in Brazil to 135,000 vehicles last year compared with a 6% gain in the overall market to 3.63 million units.
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