Honda Motor and its Chinese joint venture partner Dongfeng Motor said on Thursday they would build a new factory in central China's Wuhan to exclusively manufacture electric vehicles (EVs) from 2024. 

The factory would have a production capacity of 120,000 vehicles a year, Honda said in a statement.

Honda, Japan's second-largest automaker, is set to launch a new EV brand in China this year called e:N Series with plans to roll out 10 models with partners Dongfeng and GAC.