The development is the first such investment by a U.S. automaker in the Central American country.
As per a statement from the Honduran government, Green4U Technologies, a U.S. electric auto maker has signed a memorandum of understanding (MOU) with the Honduran government which stated that it will build an assembly plant in Honduras.
This will be the first such initiative in the Central American country.
Don Panoz, chairman of Green4U, signed the MOU with the Honduran government, said Green4U in a statement. It went on to add, the plant will be located near a community of 40,000 to 50,000 people.
Green4U’s plant in Honduras foresees a planned investment in the range of $19 million to $20 million spread across five years.
Green4U is now weighing the location of its plant and has 3 potential locations close to a port on Honduras’s Atlantic coast.