WORLD AUTO GIANTS RIVAL FOR CHINESE MARKET
AsiaInfo Services, November, 2004
AsiaInfo Services 11-12-2004 World Auto Giants Rival for Chinese Market CHINA, Nov 12, 2004 (SinoCast via COMTEX) -- The world's auto giants are speeding up to compete for the Chinese market now because the Chinese auto market is expected to grow by 10 to 20 percent despite the depression this year. Dongfeng Honda Automobile (Wuhan) Co., Ltd., a joint venture between Dongfeng Motor Co., Ltd.
and Japan's second largest automaker Honda Motor Co., Ltd., will expand its annual production capacity to 120,000 units in 2006 from its existing 30,000 units. The project, with investment of about CNY 280 million, will start construction within this year. Honda's another joint venture Guangzhou Honda is set to invest USD 265 million to build its second plant in Eastern...
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