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Honda Motor Reported to Close 2 ICE Vehicle Plants in CN
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Honda Motor (7267.JP) will close two internal combustion engine (ICE) vehicle plants in China and reduce its annual production capacity in China to 720,000 units, according to Japanese media. Honda Motor will shut down a plant jointly operated with GAC GROUP (02238.HK) in June, and will close another plant co-owned with Dongfeng Motor Group next year, the report noted. Honda has struggled to compete with rivals such as BYD COMPANY (01211.HK) in China. The company's 2025 sales in China fell about 24% YoY to less than 647,000 units. Auto-translated by AI AASTOCKS Financial News |
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