Honda planning R&D unit in Noida with investment of Rs 500 crores
Japanese automakers Honda Motors are planning on investing in a new R&D Center in Noida. This R&D Center will focus of developing cars for the local market with extensive use of locally procured components so as to make the upcoming vehicles more affordable.
Honda Genbetsu India is the new R&D facility being set up by Honda in India at an initial investment of INR 500 crores. The center will come up at the companyâ€™s existing manufacturing plant in Greater Noida and will offer designing support for both running models and upcoming models for the Indian auto sector.
Apart from this, Honda announced the opening of their new plant in Rajasthan, which will double their current monthly output of 10,000 units. With revitalized plans for India, the company aspires to concentrate on smaller cars at a more affordable price and more focus on diesel engined options to be launched in the future, reveals ET.
HCIL became the fourth largest automaker in India in January this year, overtaking Tata Motors and Toyota Kirloskar. The company sold a total of 15,714 units in January, a threefold increase as compared to cars sold in the same month in the previous year.