Honda to Release Hybrid Vehicles in Brazil

Economy

Itirapina, Brazil, March 27 (Jiji Press)--Japan's Honda Motor Co. <7267> plans to release hybrid vehicle models in the Brazilian market by 2023, Operating Officer Issao Mizoguchi said Wednesday.

The move follows the Brazilian government's decision to introduce tax breaks for hybrid vehicles.

Mizoguchi, also chief officer of Honda's regional operations in South America, said the company may release about three hybrid vehicle models in Brazil within the next five years.

He revealed the plan at a ceremony to mark the start of operations of a Honda plant in Itirapina in the state of Sao Paulo in Brazil.

Meanwhile, Mizuguchi said Honda must take its time when it comes to releasing an electric vehicle in Brazil, citing infrastructure-related obstacles.

[Copyright The Jiji Press, Ltd.]

Jiji Press