Honda to Build Second Auto Plant in Brazil

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Honda Motor (NYSE: HMC  ) will build a new car factory in Brazil, doubling its car building capacity in that country to 240,000 units a year, Honda announced yesterday.

The new factory will be built in Ityrapina, a city of almost 15,000 population, located approximately 120 miles northwest of Sao Paulo, Brazil's largest city. The existing Honda factory in Brazil is in Sumare, a city of around 100,000, located halfway between Ityrapina and Sao Paulo.

The cost of the new factory, including the purchasing of the 1,433 acres it will be located on, will come to $435 million. It will employ approximately 2,000 people, and produce a compact car such as the Honda Fit.

"Being the fourth largest car market in the world, Brazil is a very important region for the operations of Honda. With the capacity expansion, our goal is to gain competitiveness and offer increasingly attractive products that exceed the expectations of Brazilian consumers," said Honda South America and Honda Cars of Brazil president, Masahiro Takedagawa in the company's statement.

The new Honda plant is planned to begin operations in 2015.

Read/Post Comments (1) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On August 09, 2013, at 12:41 AM, kenny360 wrote:

    Come on Japan did you not learn the lesson from American outsourcing! BAD IDEA.

Add your comment.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2587185, ~/Articles/ArticleHandler.aspx, 9/28/2016 6:13:43 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,339.24 110.94 0.61%
S&P 500 2,171.37 11.44 0.53%
NASD 5,318.55 12.84 0.24%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/28/2016 4:02 PM
HMC $29.17 Up +0.12 +0.41%
Honda Motor CAPS Rating: ****