Honda holds on to hope for China business with GAC tie-up extension

Automaker sticks with key market despite sales falling 60% in five years Honda and GAC extended their partnership by 10 years, rather than agreeing to another 30-year term. (Photo by Shizuka Tanabe) GUANGZHOU — Honda Motor's 10-year extension of its joint venture with China's Guangzhou Automobile Group (GAC) suggests that the company is not giving up on the critical market, despite its sales there plummeting amid the country's shift to electric vehicles.

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