Honda Motor Co Set to Build a New Manufacturing Plant in Mexico
The automotive industry continues to find growing opportunity in prosperous Mexico. The Honda Motor Company, in particular, is one of many companies that have ventured out to Mexico in order to build new manufacturing plants. Ranked the third largest auto-manufacturer in Japan, Honda decided to expand to Mexico because of increasing monetary advantages.
Already the location of a host of international manufacturing plants, Mexico will now be home to two of Honda’s automotive factories. According to Japan’s Nikkei Daily publication, Honda Motor Co plans to invest 20 billion yen or 260 million dollars to build a new car plant in Mexico, which will join an existing Honda plant in central Mexico.
The exact location of the new manufacturing plant is still yet to be determined, but operations are projected to begin in 2014. The new Honda Motor Co plant in Mexico will manufacture such models as the Fit Subcompact and begin production with a capacity of 100,000 units.