Honda to Spend 14 B. Yen on Plant Renovation in Taiwan

Economy

Taipei, Feb. 26 (Jiji Press)--Honda Motor Co. <7267> plans to spend a total of 4 billion New Taiwan dollars, or some 14.4 billion yen, over the next five years to fully refurbish its passenger car plant in the southern Taiwan county of Pingtung, company sources said Tuesday.

This will be the largest investment in the factory since the launch of its operations in late 2002, according to the sources.

While Honda announced last week its decision to end passenger car production in Britain in 2021, Taiwanese media organizations are paying attention to the Japanese automaker's investment plans.

The five-year investment plan "shows our intention to continue production in Taiwan," a Honda public relations official said, citing the firm's brisk new automobile sales in the Taiwanese market.

At the Pingtung factory, Honda manufactures the Fit compact car, two SUV models, the CR-V and the HR-V, and the City compact sedan for sales mainly in Taiwan.

[Copyright The Jiji Press, Ltd.]

Jiji Press