Honda Motor, Japan's third-largest carmaker, said on March 17 it would build an assembly plant in Vietnam to make cars for the growing domestic market there. The plant will be capable of assembling 10,000 Honda Civic sedans a year and is scheduled to begin operating in mid-2006, Honda said in a statement. "The Honda Civic will be the first model to be produced in Vietnam as this model is already very popular in Asia," the statement said.
Honda said the car market in Vietnam reached 40,000 units in 2004 and "as the economy of Vietnam continues to grow, Honda expects further growth of the automobile market."
The new plant will be built at the same site as Honda's motorcycle manufacturing operation, in suburban Hanoi, and investment in the auto operation is expected to reach some 60 million dollars by 2010, Honda said.
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