Honda lays out its plans

Honda CEO Takeo Fukui fleshed out details of Honda’s strategy at a midyear speech at Honda’s head office in Tokyo this morning. Attendees weren’t left disappointed. Fukui gave details on reports in the Japanese press about plans for North America (see my blog entry yesterday) and much more. Honda will spend $1.46 billion building three plants—in the U.S., Canada, and Japan. The location of the U.S. plant is still to be decided but will employ 1,500 and build 200,000 vehicles a year from 2008. Fukui said the location would be announced soon and help meet rising demand for more fuel efficient vehicles. In Canada, Honda will spend $140 on an engine plant and another $125 million will go on expanding components factories in Ohio and Georgia. Back home, a new 200,000 capacity plant will open in Saitama in 2010.

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