TOKYO Aug 8 Japan's Honda Motor Co on
Thursday said it will spend around $440.55 million to build a
new car plant in Brazil that from 2015 will make 120,000
vehicles a year.
The new plant, located in Itirapina city 200 kilometers
northwest of Sao Paulo, will double Honda's annual production in
Brazil to 240,000 vehicles. Like other automakers, Honda is
looking to tap burgeoning growth in emerging economies such as
Brazil by making cars locally.
The factory, which will employ 2,000 workers will build
Honda's Fit compact cars.
Japan's third-biggest automaker by sales volume in the
quarter ended June 30 posted a 5.1 percent gain in operating
profit to 185 billion yen ($1.90 billion) helped by strong sales
in the United States and Asia that offset weak sales at home.
($1 = 97.6050 Japanese yen)
(Reporting by Tim Kelly; Editing by Matt Driskill)