Honda Motor Co, Japan's third-largest automaker, opened a new factory in China, as it seeks to maintain its lead over Toyota Motor Corp and Nissan Motor Co in the world's fastest-growing major vehicle market.

The new factory, located in the southeastern city of Guangzhou, will have a capacity of 120,000 vehicles a year, the company said in a statement.

Guangzhou Honda Automobile Co, Honda's venture with Guangzhou Automobile Group Co, invested 2.2 billion yuan (US$277 million) in the factory, which will make Accord models.

Source:佚名