Honda to form motorcycle joint venture in Bangladesh-Nikkei
Sept 1 |
Sept 1 (Reuters) - Honda Motor Co plans to form a joint venture in Bangladesh as early as this year to produce motorcycles, the Nikkei reported.
Honda used to sell motorcycles in Bangladesh through Indian motorcycle maker Hero MotoCorp Ltd. The Japanese company canceled its tie-up with Hero in 2011, the daily reported.
The venture, with a local business, will set up a low-cost assembly facility with an annual sales target of 10,000 to 20,000 units, the business daily said.
The motorcycles will be built for the local market from components shipped from India and Pakistan, the Nikkei reported.
Annual motorcycle sales in Bangladesh are about 100,000 units, the daily said. (Reporting By Vrinda Manocha in Bangalore; Editing by Sriraj Kalluvila)
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