Dongfeng Motor to Sell 50% Stake in Joint Venture with Honda

State-owned Chinese automaker Dongfeng Motor Group Co. is selling its 50% stake in a joint venture with Honda Motor Co., in a reflection of the country’s rapid shift away from gasoline-powered vehicles.

Guangzhou-based Dongfeng Honda Engine Co. was founded in 1998 and produced engines for Honda vehicles in China. Dongfeng listed its stake for sale on the Guangdong United Assets and Equity Exchange on Monday, according to the exchange website. A reserve price has yet to be set and the listing deadline is Sept. 12.