Honda Motor Co. has made a surprise move in its Chinese operations, extending its long-standing joint venture with GAC Group for another 13 years, through 2038. This decision comes as a significant departure from the struggling sales trend in the region, with the partnership's vehicle sales plummeting from 1.63 million units in 2020 to just 645,000 in 2025. Despite these dismal numbers, Honda's CEO Toshihiro Mibe has opted against cutting ties with GAC, instead choosing to invest in the future of their partnership. The move is likely to be seen as a vote of confidence in the Chinese market, despite the challenges it has faced in recent years.
Honda Motor Co. extended its China joint venture with GAC Group through 2038 despite sales plunging from 1.63 million vehicles in 2020 to 645,000 in 2025. CEO Toshihiro Mibe says cutting ties with ...
