Honda held a groundbreaking ceremony to mark the beginning of the construction of its new automobile plant Honda Manufacturing of Indiana, LLC (HMIN). The plant is expected to have an investment of $550 million. This new plant will produce Honda Civic sedan.
Hyundai Motor Company, the world's sixth largest car manufacturer announced that it has entered into a strategic cooperation with Infineon Technologies AG, one of the leading semiconductor supplier to the automotive industry, for the development of automotive electronics.