Saturday, March 10, 2007

Honda in China

GUANGZHOU, China — Honda Motor Company once again is shaking things up in China. Now, it plans to create a new homegrown brand for the Chinese market, in cooperation with local partner Guangzhou Auto.

guangzhou hondaGuangzhou Honda Automobile expects to announce details later this month, according to a report in newspaper China Daily.

Other Chinese brands, notably Shanghai Auto and First Auto, already have begun marketing homegrown designs and brands. Guangzhou Honda would be the first Sino-foreign joint venture to do so.

Honda's partnership with Guangzhou Auto is unique in another respect: It is the only joint venture in China to export cars to Europe. The partners currently build and ship a version of the Honda Fit compact to Europe, where it is sold as the Honda Jazz.

The newspaper reported that Korean automaker Hyundai and its local partner Beijing Auto also are planning to develop a homegrown brand for China in 2008.

© Source: article on insideline
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