Guangqi Honda Automobile Co Ltd plans to launch three new vehicle models annually from 2013 to 2015, sources close to the company said.

The company this year will launch the ninth generation Honda Accord, Concept C's production model. One of the new Honda models for 2014 will be the new Fit, Fit SUV. A medium-sized SUV and the Fit Hybrid will hit the market in 2015.

Guangqi Honda will release the new Everus this year, and the Everus compact SUV in 2014. Guangqi Honda has two production plants at present, located in China's southern cities of Guangzhou and Zengcheng, Guangdong province. The output capacity of the two plants is 480,000 units.

Guangqi Honda will set up its third plant in Zengcheng to help reach the target of selling 1 million units by 2020. The new plant is expected to be completed in 2014.