Honda's joint venture with Guangzhou Auto to launch low-priced Everus brand
In an effort to expand into China's market for low-priced domestic sedans, Honda Motor Co.'s joint venture with Guangzhou Automobile Group Co. is launching a new brand called "Everus."
In the first half of this year, Quangqi Honda Automobile Co. will introduce a small car that is a variant of a "mature economic Honda model," said Quangqi Honda in a statement. It did not indicate which Honda model would provide the platform.
Customers will have a choice of a 1.3-liter or 1.5-liter gasoline, according to Quangqi Honda. Its target customers are young urban residents.
The new car will be built on the same production line as Guangqi Honda's existing vehicles. It will be sold through Guangqi Honda's dealership network. Further details are not available.
Established in 1998 in southeast China's city of Guangzhou, Guangqi Honda makes the Honda Accord, Fit, City and Odyssey.
Besides Guangqi Honda, Honda has another joint venture in China - Dongfeng Honda Automobile Co., which is a partnership between Honda and Dongfeng Motor Corp. in the central China city of Wuhan.
