Honda invests in Chinese car-sharing service
Honda Motor Co. plans to invest 60 million yuan ($9 million) in a Shenyang-based car-sharing service called Reachda, reports Caixin, a Beijing business news website.
Honda will have a 10 percent stake in Reachda, which operates in Liaoning, Hebei and Hubei provinces.
Reachda is a unit of Neusoft Reach Automotive Technology, which is based in the northeast city of Shenyang. Reachda operates a small fleet of 100 vehicles -- mostly electric vehicles -- supplied by Changan Automobile Group.
Caixin said Honda hasn’t indicated how many vehicles it will provide to Reachda or whether they will be electric.
Honda plans to introduce a China-exclusive electric compact crossover next year with its two Chinese joint ventures, GAC Honda and Dongfeng Honda.
Starting in 2019, China will require automakers to produce and sell EVs in China as part of a new cap-and-trade carbon credit program.
Given Honda’s annual China sales of 1.2 million units, Caixin estimates that Honda would have to produce 20,000 EVs in China by 2019.
Honda will have a 10 percent stake in Reachda, which operates in Liaoning, Hebei and Hubei provinces.
Reachda is a unit of Neusoft Reach Automotive Technology, which is based in the northeast city of Shenyang. Reachda operates a small fleet of 100 vehicles -- mostly electric vehicles -- supplied by Changan Automobile Group.
Caixin said Honda hasn’t indicated how many vehicles it will provide to Reachda or whether they will be electric.
Honda plans to introduce a China-exclusive electric compact crossover next year with its two Chinese joint ventures, GAC Honda and Dongfeng Honda.
Starting in 2019, China will require automakers to produce and sell EVs in China as part of a new cap-and-trade carbon credit program.
Given Honda’s annual China sales of 1.2 million units, Caixin estimates that Honda would have to produce 20,000 EVs in China by 2019.
