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Honda to invest $602 million to expand motorcycle factory in Brazil

Reuters
Honda to invest $602 million to expand motorcycle factory in Brazil

SAO PAULO, Nov ‌5 (Reuters) - Japan's Honda will invest 3.3 ​billion ‌reais ($602.2 million) by 2030 to ‌expand the capacity of its motorcycle plant in ‌Brazil, the company said in a statement on Thursday.

• The move includes two ⁠new production units at ‌its Manaus complex, ⁠increasing annual capacity to 2.3 ​million units in 2029 from an expected ​1.6 million this year, ​it ‌said

• The factory produces 20 ​models, serving the ⁠domestic market and ‌exporting to 19 ​countries, ​including to the US and Mexico, according to Honda

• The investment adds to 1.6 ‌billion reais announced last year by the group ‌into ​its motorcycle business in Brazil

($1 = 5.4798 reais)

(Reporting by Andre Romani in Sao Paulo; ‌Editing by Isabel Teles)