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

Honda, the Japanese automotive manufacturer, has announced plans to invest $602.2 million (3.3 billion reais) by 2030 to expand its motorcycle production capacity in Brazil. This significant investment includes the construction of two new production units at the company's existing Manaus complex, which will boost the annual output from the current expected 1.6 million units to 2.3 million units by 2029.

The Manaus factory is responsible for producing 20 different motorcycle models, catering to both the domestic Brazilian market and exporting to 19 countries, including key markets such as the United States and Mexico. This expansion is part of Honda's ongoing commitment to bolstering its motorcycle business in Brazil, a move that was highlighted in a separate $1.6 billion reais investment announced last year.