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This is an archive article published on March 28, 2015
Honda to invest R965 cr in Indian market
HCIL has recorded a growth of 44 per cent in domestic sales during April 2014 to February 2015 at 1,66,366 units.
Honda Motor Company will invest Rs 965 crore in India to expand production capacity for passenger vehicles and two-wheelers by 2016.
While Honda Cars India Ltd (HCIL) will invest Rs 380 crore in its second facility at Tapukara in Rajasthan to expand production capacity by 50 per cent to 1,80,000 units, Honda Motorcycle & Scooter India (HMSI) will invest Rs 585 crore to hike production capacity at its third unit at Narsapura in Karnataka.
Honda Cars said, “The additional capacity is scheduled to be ready by middle of 2016. This capacity expansion will generate a fresh employment of about 600 people in Tapukara plant.” The expansion of the second plant will increase HCIL’s overall annual production capacity from the current 2,40,000 units to 3,00,000 units.
HCIL has recorded a growth of 44 per cent in domestic sales during April 2014 to February 2015 at 1,66,366 units driven by strong demand for sedans Amaze and City.
On its part, HMSI said a new production line will be set up within the existing plant site at Narsapura that will add 6,00,000 units annually to take up the total capacity of the facility to 2.4 million units before the end of 2016.
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