Honda plans to build new model for Chinese in 2011

• Source: Global Times
• [16:23 January 05 2011]
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Dongfeng Honda Automobile Co., Ltd., Honda Motor Co's joint venture (JV) with Dongfeng Motor Group, will launch its first self-owned brand and roll out its first self-developed model in the second half of 2011, the Chongqing Morning Post reported Wednesday, citing the general manager of Dongfeng Honda, Mizuno Yasuhide.

According to insiders, Dongfeng Honda has learnt from the success of Everus, which is produced by Honda's joint venture with GAC, aiming at the middle-end and low-end markets. The first model is expected to be a compact hatchback that shares most auto parts with the Civic.

Mizuno Yasuhide also said the JV will launch three new models in the next two to three years, including an updated version of the Spirior, Civic and a new multiple purpose vehicle (MPV).

Dongfeng Honda invested 4.3 billion yuan ($649 million) to build the joint venture's second factory, which is expected to realize a production capacity of 100,000 units by 2012.