(MENAFN) Japan's Honda announced that it plans to launch a new factory in Mexico's central state of Guanajuato, The Peninsula Qatar reported
The bid comes as the Japanese carmaker is seeking to take advantage of the growing sector in the country and to strengthen its presence in the country
The USD800 million factory will produce 200,000 units a year which would help Mexico in the race to become the largest car exporter to the US
Honda chief executive said: "We have great expectations for growth in the US market as well as the Mexican market.
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