Honda Extends Joint Venture Agreement with GAC Group Until 2038
Japanese automaker Honda has extended its joint venture agreement with China's Guangzhou Automobile Group Company until 2038. The partnership, which began in 1998 and produces over 1 million vehicles annually across six assembly plants, aims to strengthen Honda’s presence amid growing competition from new energy vehicle (NEV) adoption.
Tickers: $HMC
Topics: automotive china market electrification