REUTERS - Honda Motor Co Ltd plans to increase its motorcycle production capacity in India by 30 percent by 2016, aiming to catch up with market leader and former joint venture partner Hero MotoCorp Ltd (NSI:HEROMOTOCO), the Nikkei reported.
The Japanese company will build a fourth plant, likely to be in the western state of Gujarat, at a cost of about 20 billion yen, the business daily said.
Honda's output capacity in India will rise by 1.2 million to 5.8 million units once the plant starts producing, the Nikkei said. Honda will hire 3,000 workers, it added.
(Reporting by Aditi Shrivastava in Bangalore; Editing by Don Sebastian)
- Asia News
- Singapore International News
- Honda Motor Co Ltd