Honda announced yesterday that the company will invest 8.18million dollars in China and set up Honda production and technology (China )Co., Ltd. in order to make the fourth overseas production basement . It is reported that after the investment the output and quality of domestic Honda will be equal to U.S.A. and Great Britain .

It is reported that the new company of Honda expects to be established in August of this year , it will be devoted to improve the production equipment and set up the high-quality factory. Meanwhile, the output of Honda Vehicle will increasing sharply.

General Motors announced adding 3 billion US dollar in China, German Volkswagen with the First Automobile Group of China invest 1,42 million yuan to set up new spare part Company.