 "Honda to invest $154 mn to expand India motorcycle, car output")
Honda Motor Co. Ltd said today that it would invest Rs 965 crore ($154 million) to expand its motorcycle and automobile production in India, targeting growing demand in Asia’s third-largest economy.
The Japanese automaker said its unit, Honda Motorcycle & Scooter India, would spend Rs 585 crore to raise annual production capacity by a third to 24 lakh units at its factory in the Narsapura area of southern India. The move will create about 1,900 jobs.
Meanwhile, its automobile unit, Honda Cars India Limited, will invest Rs 380 crore to raise capacity by 50 percent to 180,000 units a year at its Rajasthan factory in northern India. It will hire an additional 600 workers.
The moves will help increase Honda’s overall annual production capacity in India to 640 lakh motorbikes and 300,000 automobiles, the company said in a statement on its website.
Reuters
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