Honda Cars announces Rs 2,500-cr capex

Honda Cars announces Rs 2,500-cr capex

Honda Cars India Limited (HCIL) on Tuesday announced an investment of Rs 2,500 crore at its Tapukara plant in Alwar, Rajasthan, to build a new assembly line for cars with an installed capacity of 1.20 lakh units, a new diesel engine component production line and a forging plant.

The enhanced annual capacity will scale up to 2.40 lakh units by 2014, a company statement said. The expansion is expected to generate fresh employment for 2,200 people, it added. Its other facility is at Greater Noida, Uttar Pradesh.

The President of HCIL, Hironori Kanayama said: “We are now set to expand our business in the country by entering the diesel segment with the all new Amaze scheduled to be launched on April 11. With addition of diesel power, the universe in which we operate will increase to around 50pc of the total passenger vehicle market over the next few years.”

It also announced a global organisation structure revamp effective from April 1, by appointing Yoshiyuki Matsumoto, Managing Officer, Honda Motor Company, as “Representative of Development, Purchasing and Production in Asia & Oceania Region” who will be based out of India. He said that given that India is a key market, HCIL will be launching various models including the “Amaze” over the next three years.

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