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8/18/2021, 4:48 PM (Source: TeleTrader)
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Honda to boost China EV production - report

Honda Motor is planning to invest 3 billion yuan ($462 million) in its factory in Guangzhou, China, in order to boost the production of electric cars and plug-in hybrid vehicles, Nikkei reported on Wednesday.

The investment will be made through a joint venture and will expand the carmaker's existing plant in the southern Chinese city.

Once expanded, the factory would get an additional annual production capacity of 120,000 units. Honda hopes the expanded plant will go into operation by February 2024.

Baha Breaking News (BBN) / NP