News Room - Steel Industry

Posted on 05 Jan 2010

Honda to use India steel to lower costs

Honda Motor Co plans to use Indian steel sheet for the first time when it starts making small cars in India next year to lower costs, the Nikkei business daily reported on Tuesday.

 

Honda plans to procure most of the steel sheet for the 2CV, a new subcompact for emerging markets, from multiple suppliers, including Tata Steel (TISC.BO), the Nikkei said.

 

Honda aims to lower production costs for the 2CV by using steel sheet that is 20-30 percent cheaper than similar steel made in Japan, the Nikkei said.