Honda Starts Building Accord Sedans In Nigeria

Honda Motor has begun the production of cars in Nigeria by retooling part of its factory that previously made motorcycles.
The company's new chief executive, Takahiro Hachigo, said this at his first news conference since taking the helm in June, on Monday in Tokyo. He said the company, which started production this month, planned to produce 1,000 of its Accord sedans annually at the plant.
Takahiro said Honda would increase the production if the local market grows, adding that the plant would service other African countries. He said Honda has no plans for now to offer financial aid to

Takata Corp, the air bag supplier at the centre of a costly global air bag recall.
However, Hachigo said Honda had set aside enough to cover the cost of recalling over 2 million cars with potentially faulty air bag parts made by Takata.
“We have money budgeted for quality-related costs, as we did last year, and we think we can respond within this allocated amount,” Hachigo told reporters.
Hachigo, initiates his stewardship of Japan’s third-biggest auto maker with a goal to restore the firm’s reputation for quality.
In the Takata air bag safety scare regulators have linked eight deaths to the component, all in cars made by Honda.
As Hachigo seeks to develop business, he said the company remained open to alliances with other automakers as long as such tie-ups were of benefit to Honda.
In one such deal, the Japanese firm already has an alliance with General Motors Co, to develop hydrogen fuel-cell technology.

Source: Reuters