Honda Motor Co (7267.T) and its Chinese joint venture partner Dongfeng Motor (0489. HK) said on Thursday that starting in 2024, they will develop a new facility in Wuhan dedicated solely to the production of electric vehicles (EVs).

Honda claimed in a statement that the factory will be able to produce 120,000 automobiles per year.

Honda, Japan’s second-largest manufacturer, is planning to introduce a new electric vehicle brand dubbed e: N Series in China this year, with plans to roll out 10 models in collaboration with Dongfeng and GAC (601238.SS).