On Jan. 5, Dongfeng Honda Automobile Co., a Sino-Japanese automaker, signed with Wuhan Economic and Technological Development Zone on building a new energy plant.

The Wuhan-based project will be the company’s first plant specializing in new energy vehicles in the world.

With a planned investment of about 10 billion yuan, the plant is estimated to be put into operation in 2024 and reach target output in 2027. After then, it is expected to achieve an additional output value of 50 billion yuan and an additional tax of 3 billion yuan.

At present, Wuhan is speeding up the construction of a national new energy and intelligent connected vehicle base and aims to build a world-class automobile industry cluster. With settlement of Dongfeng Honda's new energy plant, new impetus will be injected into the high-quality development of the city's automobile industry.