A new energy vehicle plant owned by the joint venture between Honda (TYO:7267) and Guangzhou Automobile Group (HKG:2238, SHA:601238) launched operations, Yicai Global reported Monday.
The GAC Honda Automobile plant, located in the Guangzhou Economic Development Zone, has an expected output of 120,000 electric cars annually, the report said.
Among the cars that will be produced in the new plant are the e:NP2 and the Ye P7 models, the report said.
Honda also aims to slash its carbon emissions in its car-making process through solar power, intelligent energy management, and heat recovery, the report said.
Honda's shares jumped 13% during Tuesday's afternoon trading.
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