Gasgoo.com (Shanghai May 29) - Construction of Guangqi Honda's new engine factory and third automobile factory has officially begun, xkb.com.cn reported today. Construction on the two sites has begun simultaneously and is scheduled to be completed in 2015. The news comes not long after the market debut of the joint venture's own brand Everus S1.
In a recent interview, Guangqi Honda Executive Vice President Yao Yiming and Vice President Yu Jun expressed their optimism for the two new sites. They will play a major part in boosting the JV's total annual production capacity from the current 480,000 vehicles to 720,000 vehicles in 2015. The new automobile factory, which will focus on the manufacture of compact and subcompact models, is designed with a final annual production capacity of 240,000 vehicles. Meanwhile, the 3.5 billion yuan ($566.56m) engine factory can manufacture up to 240,000 engines. Worth mentioning is that the planning and design of the two sites was carried out primarily by Guangqi Honda's Chinese staff, which represents a new breakthrough for the JV.