T Mac
12-14-2007, 07:40 PM
TOKYO, Dec. 11, 2007 (Thomson Financial delivered by Newstex) -- Honda Motor Co (NYSE:HMC) does not have a plan for now to build a factory in China, Japan's second-largest carmaker said Wednesday, denying a newspaper report that it intends to build an engine plant in Guangzhou at the cost of 30 billion yen.
The report by the Nikkei business daily said the plan is to roll out as many as 200,000 engines a year.
'Guangzhou Honda has a permission for engine production, but there is currently no plan (for the joint venture of Honda and a Chinese carmaker) to build an engine plant,' Honda said in a statement.
Guangzhou Honda Automobile Co is Honda's 50-50 joint venture with China's Guangzhou Auto
Click here (http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-21602590.htm) for the entire story from CNN Money
The report by the Nikkei business daily said the plan is to roll out as many as 200,000 engines a year.
'Guangzhou Honda has a permission for engine production, but there is currently no plan (for the joint venture of Honda and a Chinese carmaker) to build an engine plant,' Honda said in a statement.
Guangzhou Honda Automobile Co is Honda's 50-50 joint venture with China's Guangzhou Auto
Click here (http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-21602590.htm) for the entire story from CNN Money