Guangzhou Automobile Group Company Ltd. and Honda Motor Company Ltd. signed a basic agreement to jointly conduct Acura business in China.
With the signing of the agreement, the two companies will begin discussing concrete plans toward a goal to begin local production of Acura brand vehicles at Guangqi Honda Automobile Company Ltd. in 2016.
In 1998, Guangzhou Automobile Group and Honda jointly established GHAC, a joint venture company for the production and sales of Honda products in China, and have continued a relationship for the last 15 years. Striving to achieve further growth in the rapidly growing luxury car market in China, the two companies agreed to establish a new cooperative relationship.