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Honda Begins Automobile Production in Nigeria

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TOKYO, July 13, 2015 - (JCN Newswire) - Honda Motor Co., Ltd. today announced that it began local production of the Accord sedan on July 10, 2015 in Nigeria, West Africa, where the automobile market is expected to expand in the future.

Honda Automobile Western Africa Ltd., a wholly-owned subsidiary of Honda in Nigeria, established a new plant by installing automobile production facilities and equipment within the property of the existing Honda motorcycle production plant and began Accord production with annual production capacity of 1,000 units. This new plant is Honda's first automobile production plant in Africa.

Honda began motorcycle production and sales in Nigeria in 1980. Since then, Honda has been evolving its businesses in order that they take root in this region. In 2013, Honda established a local automobile business subsidiary and began the import and sales of Honda automobiles. Based on its longstanding commitment to "build products close to the customer" and by leveraging its knowledge and technique amassed through motorcycle business, Honda begins local production of automobiles for the customers of Nigeria.

Honda views Africa as a new growth market. Honda has been expanding its motorcycle, automobile and power products business in the southern part of Africa through its local subsidiary established in South Africa in 2000. In Kenya, in the eastern part of Africa, Honda established an automobile sales office in December 2011, followed by the establishment of a motorcycle production and sales subsidiary in March 2013.

Honda will continue strengthening its global production system and capability in order to deliver products that satisfy customers in all regions around the world.

Comment by Yoshi Yamane, Senior Managing Officer and Director, Honda Motor Co., Ltd.:

"Establishment of the first Honda automobile production plant in Africa is an epoch-making challenge for us. This production operation incorporates know-how Honda has amassed through its long history of motorcycle business in this market, and we could re-discover the strengths of Honda at the spot of manufacturing operations. I expect that this initiative will lead to a great leap in our automobile business in Nigeria and become a first step toward expansion to the entire African market."

Comment by Yusuke Hori, Operating Officer and Head of Regional Unit (Africa and the Middle East), Honda Motor Co., Ltd.:

"It is a great pleasure to see the start-up of Honda's first automobile production plant in Africa. Our production volume is still small; however, we will strive to deliver the joy of mobility to as many customers as possible and expand our business in Africa in the future."

About Honda Automobile Western Africa Ltd. (HAWA)
Establishment:        April 2013 
Capital Investment:   1.85 billion Nigerian naira 
Capitalization Ratio: 100% Honda Motor Co., Ltd. 
Representative:       Takayuki Yamashita 
Location:             Victoria Island, Lagos, Nigeria 
Business:             Production and sales of Honda automobiles, sales of spare 
                      parts 
Production model:     Accord 
Production capacity:  1,000 units/year 


About Honda

Honda Motor Co., Ltd. (TSE:7267/NYSE:HMC/LSE:HNDA.L) is one of the leading manufacturers of automobiles and power products and the largest manufacture of motorcycles in the world. Honda has always sought to provide genuine satisfaction to people worldwide. The result is more than 120 manufacturing facilities in 30 countries worldwide, producing a wide range of products, including motorcycles, ATVs, generators, marine engines, lawn and garden equipment and automobiles that bring the company into contact with over 19 million customers annually. For more information, please visit http://world.honda.com.

Source: Honda

Contact:
Media Inquiries
corporate_pr@hm.honda.co.jp
+81-3-5412-1512




Copyright 2015 JCN Newswire . All rights reserved.

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