Honda Motors Corporation have announced they are to invest more than £200 million in upgrading its UK plant to develop the global production network – maximising the efficiency and quality of its manufacturing operations.
The company is aiming to turn its Swindon plant into a global production hub for its five-door Civic. The factory has produced 119,995 vehicles in the last year alone and the investment is forecast to generate around 250,000 vehicles a year.
Swindon Plant :
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The UK’s plant in Swindon will be the responsible for producing the next generation Civic five -door model for the European market as well as being exported to key global markets. It will help to increase Civic volumes whilst developing improved economies.
A total of £200 million will be invested into new advanced production technologies and processes, further enhancing Honda’s European manufacturing facilities.
Honda of the UK Manufacturing – want to develop the plant into a specialist Civic production facility, whilst the next generation CR-V will be manufactured at HCM (Honda of Canada Manufacturing) in Ontario and will be imported into Europe.
A year ago Honda cut 340 jobs at the same factory, accounting for roughly 10 percent of the plant’s manufacturing positions. They blamed weak European demand. Earlier this year Honda cut its annual profit forecast as they face soaring recall costs.
Chief executive Mike Hawes of the Society of Motor Manufacturers and Traders commented: “It has been a fantastic week for the UK automotive industry, with more than £1 billion earmarked by vehicle manufacturers for new model production that will drive further growth for the sector.”
This Honda news is the latest in a series of recent boosts to car manufacturing in the UK, with Jaguar Land Rover and Coventry-based London Taxi Company announcing investment plans in the past few days.
The company has huge expectations for its new five-door Honda Civic model and we believe Honda’s investment plan should help achieve their desired goals.