Honda plans to build a new $800 million pant in Mexico to build a subcompact car. Scheduled to open in 2014 and employ 3,200 people, the plant will have the ability to produce 200,000 vehicles a year.
The plant will be located in Celaya, Guanajuato and will be the eighth plant Honda has located in North America. The new plant will increase Honda's production capacity in North America from 1.63 million to 1.83 million vehicles per year. More than 87 percent of Hondas and Acuras sold in 2010 were produced in North America.
Honda wouldn't name which vehicles will be produced at the new plant, but an open date of 2014 leads us to believe it will be the next-generation Fit subcompact. The current generation of the Japan-built Fit was launched back in 2009, which would put 2015 as the six-year product cycle mark.
Stay tuned for more news regarding the next-generation Fit and the new Honda plant in Mexico.
[Wall Street Journal (Sub. Required)]