Honda Motor to spend 150-200 mln usd on building second plant in India |
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Published
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Mon, 15 Jan 2007 03:46
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TOKYO (XFN-ASIA) - Honda Motor Co plans to invest 150-200 mln usd in building a car plant in India to meet growing demand there, the company said.A Honda Motor spokesman said the plant, to be built in the western state of Rajasthan, would be the company's second in India.'We are considering an investment in a range between 150 mln usd and 200 mln usd,' the spokesman said.'We will begin construction later this year, as soon as we finish selecting an exact location and purchase it.'Honda Motor plans to begin operating the plant within two years. Initially, it will have the capacity to produce 50,000 small and medium-size cars a year, and this could rise to 200,000 cars a year in future.Once the auto maker brings the new factory up to its maximum capacity, its total output in India will be 300,000 cars a year, five times what it produces now.Honda hopes to sell 60,000 cars in India in the fiscal year ending March, having sold 43,000 in the last fiscal year, the spokesman said.
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