Honda to invest $602 million to expand motorcycle factory in Brazil

SAO PAULO, Nov 5 (Reuters) - Japan’s Honda will invest 3.3 billion reais ($602.2 million) by 2030 to expand the capacity of its motorcycle plant in Brazil, the company said in a statement on Thursday.

• The move includes two new production units at its Manaus complex, increasing annual capacity to 2.3 million units in 2029 from an expected 1.6 million this year, it said

• The factory produces 20 models, serving the domestic market and exporting to 19 countries, including to the US and Mexico, according to Honda

• The investment adds to 1.6 billion reais announced last year by the group into its motorcycle business in Brazil

($1 = 5.4798 reais)