Honda Vietnam to Market Cars in 2006

Honda Vietnam to Market Cars in 2006

The Ministry of Planning and Investment (MPI) has recently granted license to Honda Vietnam for production and sales of automobiles in Vietnam. The total investment is USUSUS$60 million for the first 5 years. The new Honda plant will be officially inaugurated in mid-2006 and produce 10,000 cars a year. It is the fifth Honda plant in ASEAN after Thailand, the Philippines, Indonesia and Malaysia and the eighth in Asia-Pacific region.

The new plant will be close to the existing motorbike plant and with a complete production line and inspection.  The first model will be the Civic that is already on sale in 160 countries. The production will create 1,200 more jobs in addition to 2,200 currently working in Honda Vietnam. With stable operation, Honda Vietnam will export automobiles and spare parts to other countries in the region and the world.

Mr Satoshi Toshida, Executive Director, Honda Motor, Asia Pacific, said that with the experience of producing 80 per cent of localised motorbike parts, Honda can do the same for auto industry in Vietnam.

• K.P