| 19 July 2007 |
Honda will create brand for China’s auto market
The Wall Street Journal, Asia, Thursday July 19, 2007
Honda will create brand for China’s auto market: Vehicle would be a first for a foreign maker; Bejing’s export goal – Honda Motor Co. said it will start selling cars with its Chinese partner under a new brand in 2010, becoming the first foreign car maker to develop an original brand in China and highlighting the growing efforts by Chinese auto companies to gain more access to foreign expertise. Honda and its partner, Guangzhou Automobile Group Co., will spend 30 billion yen ($245 million) to build a Chinese research and development centre that will design the new brand, which does not have a name yet. The first few models will be derived from existing Honda cars and will likely be priced below $10,000, targeting the low end of the market, Honda executives said.
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