Honda Motor China Investment Co., Ltd. announced that GAC Honda Automobile Co., Ltd (GAC Honda) has started construction of a new plant for the production of its electric vehicles.
GAC Honda’s new factory stands on an area of 400,000 square meters located in the Guangzhou Economic and Technological Development District, in Guangzhou city, Guangdong province, China.
The total investment value of the new factory from GAC Honda is known to be worth 3.49 billion RMB.
The new factory is targeted for completion in 2024 and can produce a total production of 120,000 units annually.
In addition, Honda has also said that it will launch ten electric-based vehicles, namely the e:N Series in 2027.
The models will be produced at Honda’s GAC plant as well as at Dongfeng Honda. So that when the two factories can operate in 2024.
Honda projects the cumulative total production capacity of the two factories to reach 1.73 million units per year.
For information, GAC Honda itself has been established since July 1998 with a total investment value of USD 541 million with 40 percent ownership of Honda Motor Co., Ltd, then 10 percent of Honda Motor (China) Investment Co., Ltd and 50 percent of Guangzhou Automobile Group Co., Ltd. (GAC Group).