Guangqi Honda

Guangqi Honda Automobile Co., Ltd. (hereinafter referred to as Guangqi Honda) was established on July 1, 1998. It is a joint venture between Guangzhou Automobile Group Co., Ltd. and Honda Motor Co., Ltd., Japan, with each party holding 50% of the shares and a cooperation period of 30 years. Guangqi Honda currently has two plants, Huangpu Plant and Zengcheng Plant, with a combined annual production capacity of 360,000 vehicles and a total floor area of 1.6 million square meters. The total number of employees at Guangqi Honda is more than 6,800 (as of the end of December 2008). The main products of Guangqi Honda currently include four series and 12 models: the Accord series sedans, the Odyssey multi-purpose series sedans, the CITY series sedans, and the Fit series sedans.

On July 19, 2007, Guangqi Honda established Guangqi Honda Automobile Research & Development Co., Ltd., which is the first automobile R&D institution in China that is independently invested by a joint venture and operates as an independent legal entity. It has independent vehicle development capabilities including concept design, styling design, whole-vehicle prototyping, real-vehicle testing, and parts development. The establishment of Guangqi Honda Automobile Research & Development Co., Ltd. marks the official breakthrough of self-owned brands in joint ventures, which is of great significance for enhancing the independent R&D capability of China's automobile industry and will inevitably have a profound impact on the future changes in the Chinese automobile market landscape.

In the domestic sedan projects, Guangqi Honda has followed a path of "market-oriented, low investment, fast production, and rolling development." Through engineering renovations at scales of 30,000, 120,000, and 240,000 units, it established a production system of 240,000 vehicles by early 2004 and achieved the goal of producing 1,000 vehicles per day.

In November 2004, Guangqi Honda established its second plant in Zengcheng City, with an initial investment of 2.2 billion RMB and an initial production scale of 120,000 vehicles per year, which was planned to start production in the second half of 2006. By establishing the second plant, the company aims to meet market and customer demands faster and better.

Since its establishment, Guangqi Honda's production and sales have achieved a new level each year. In 2004, amid fierce market competition, Guangqi Honda successfully achieved a production and sales target of 202,000 vehicles. In 2005, Guangqi Honda produced and sold a cumulative total of 230,000 sedans, an increase of 13.9% over 2004, with a market share of 7.4% in the domestic passenger vehicle market.

In an era where technology leads the future, maximizing our technical advantages is our direction of effort. Guangqi Honda leverages its strong and advanced international production processes and technical equipment to interpret its unique insights into automobile manufacturing, providing strong technical support for the excellent quality of its products. While introducing the world's latest technologies, the technical R&D center also makes technical adjustments and re-innovations based on China's road conditions and users' driving habits and aesthetic tastes.