Honda stated in a statement the joint venture exported 24,600 Jazz compact cars to Europe previous year. Honda Automobile (China) started mass manufacture in 2005. It was set up with the reason of manufacturing cars for export. Honda and its Honda Motor (China) Investment Co. unit have a combined 65% stake in the venture. Honda Automobile (China) Co. now plans to export 42,000 cars this year, up 70.7% from last year.