Honda building Vietnam plant

Honda building Vietnam plant

HANOI: Japanese carmaker Honda Motor Co. has started
construction of its first automobile assembly plant in Vietnam,
state-controlled media reported on Saturday.

The US$60 million plant is scheduled to begin operating in
July next year and is expected to annually produce 10,000 of the
company's popular Civic sedans for Vietnam's market, the Youth
newspaper said.

The plant, located in the northern Vinh Phuc province, some 40
kilometers north of Hanoi, is Honda's first auto assembly plant
in the communist country. The Tokyo-based company currently
produces motorcycles in Vietnam.

Other foreign automakers that assembly cars in Vietnam are
Toyota, Ford, Mercedes-Benz and BMW. Last year, the companies
sold 40,000 vehicles in Vietnam, which has a population of 82
million. -- AP