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11 mentions found


☆ UAW workers at GM's Flint plant narrowly vote against new labor deal
  + stars: | 2023-11-10 | by ( Shivansh Tiwary | ) www.reuters.com   time to read: +2 min
The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook Acquire Licensing RightsNov 10 (Reuters) - United Auto Workers (UAW) union members at General Motors' (GM.N) Flint assembly plant in Michigan have narrowly voted against a proposed contract with the U.S. automaker, the local chapter said. In a Facebook post on Thursday, the UAW Local 598 said 51.8% of votes cast were against the proposed deal. The vote signals that approval of the deal, which is set to raise costs significantly for GM, is not guaranteed. Union workers are voting on contracts from each of Chrysler-owner Stellantis (STLAM.MI), General Motors and Ford Motor (F.N), after the first coordinated strike against Detroit's Big Three automakers.
Persons: Rebecca Cook, Stellantis, Erik Gordon, Mack Trucks, Nathan Gomes, Shivansh, Sriraj Organizations: General Motors, REUTERS, United Auto Workers, UAW, U.S ., GM, Workers, Chrysler, Ford, Detroit's Big, Silverado, Detroit Three, University of Michigan, Detroit, Honda, Volvo Group, Thomson Locations: Detroit , Michigan, U.S, Flint, Michigan, Bengaluru
☆ Honda posts 31% Q2 operating profit jump, raises full-year forecast
  + stars: | 2023-11-09 | by ( ) www.reuters.com   time to read: +1 min
People are reflected on a Honda Motor car outside the company's headquarters in Tokyo, Japan February 2, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsCompanies Honda Motor Co Ltd FollowTOKYO, Nov 9 (Reuters) - Japan's Honda Motor (7267.T) posted a 31% increase in operating profit for the September quarter on Thursday, lifted by stronger sales in the United States and a weaker yen, and raised its full-year forecast by 20%. Japan's second-biggest automaker by sales said operating profit totalled 302.1 billion yen ($2.0 billion) in the three months to Sept. 30, compared with an average 345.3 billion yen estimate in a poll of 10 analysts by LSEG. Honda raised its full-year operating profit forecast to 1.2 trillion yen from the 1 trillion yen it had expected, largely in line with the 1.237 trillion yen average forecast from 21 analysts. ($1 = 151.0600 yen)Reporting by Daniel Leussink; Editing by David Dolan and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.
Persons: Toru Hanai, Daniel Leussink, David Dolan, Gerry Doyle Organizations: Honda Motor, REUTERS, Honda, LSEG, Thomson Locations: Tokyo, Japan, United States, China
☆ Toyota, LG Energy Solution sign $3 billion battery supply deal in U.S. EV push
  + stars: | 2023-10-05 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +2 min
The deal will support Toyota's expanding battery EV line-up, which includes a new model that will be assembled at a manufacturing plant in Kentucky — its largest globally — starting in 2025. LG Energy Solution also supplies other automotive giants such as America's General Motors , South Korea's Hyundai, and Japan's Honda . Less than five months ago, LG Energy Solution said it will build a $4.3 billion EV battery plant in the U.S. with Hyundai, in a bid to leverage tax credits. LG Energy Solution will invest about 4 trillion Korean won ($3 billion) "to establish new production lines for battery cells and modules exclusively for Toyota, with completion slated for 2025." Chinese competitionLG Energy Solution is currently the world's third-largest EV battery producer after Chinese EV player BYD, according to data from South Korean energy market research firm SNE Research.
Persons: Youngsoo Kwon, Kwon, Toyota's, Japan's Organizations: Korea's LG Energy, Toyota, LG Energy, CNBC, America's, Motors, Hyundai, Japan's Honda, U.S, Lexus, LG, EV, BYD, SNE Research Locations: U.S, Kentucky, Toyota's Tokyo
☆ Honda posts 78% jump in Q1 operating profit
  + stars: | 2023-08-09 | by ( ) www.reuters.com   time to read: +1 min
[1/2] The Honda logo is displayed at the 44th Bangkok International Motor Show in Bangkok, Thailand, March 23, 2023. REUTERS/Athit Perawongmetha/File PhotoCompanies Honda Motor Co Ltd FollowTOKYO, Aug 9 (Reuters) - Japan's Honda Motor (7267.T) reported a 78% rise in quarterly profit on Wednesday, boosted by both increased sales, especially in the North American market, and a weaker yen. Japan's second-biggest automaker by sales said operating profit totalled 394.4 billion yen ($2.76 billion) in the three months through June, handily beating the average 324.74 billion yen estimate in a poll of 10 analysts by Refinitiv. That compared with a 222.2 billion yen profit in the same period last year. Honda maintained its forecast for a 1.0 trillion yen operating profit for the current year, lower than the 1.117 trillion yen average forecast from 22 analysts.
Persons: Athit, Japan's, Daniel Leussink, David Dolan, Chang, Ran Kim Organizations: REUTERS, Honda Motor, Honda, Refinitiv, Thomson Locations: Bangkok, Thailand, American
☆ Japan's Honda, GS Yuasa to invest $3 bln for battery development, build plant -Nikkei
  + stars: | 2023-04-27 | by ( ) www.reuters.com   time to read: +1 min
TOKYO, April 27 (Reuters) - Japanese automaker Honda Motor Co Ltd (7267.T) and battery maker GS Yuasa Corp (6674.T) will invest over 400 billion yen ($2.99 billion) and team up to produce batteries for electric vehicles (EVs) and homes, the Nikkei newspaper reported on Thursday. The companies will start by building a new plant in Japan, targeting a production capacity of at least 20 gigawatt hours (GWh), the Nikkei added, without citing sources. Japan's Ministry of Economy, Trade and Industry would provide a subsidy of about 150 billion yen, the newspaper added, without specifying whether that would be only for building the factory. GS Yuasa could not be immediately reached outside of regular office hours. ($1 = 133.9700 yen)Reporting by Daniel Leussink, Maki Shiraki and Elaine Lies; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.
☆ Japan's Honda Motor in strategic collaboration deal with TSMC
  + stars: | 2023-04-26 | by ( ) www.reuters.com   time to read: +1 min
[1/2] The logo of Honda is seen during the 88th International Motor Show at Palexpo in Geneva, Switzerland, March 6, 2018. REUTERS/Pierre Albouy/File PhotoTOKYO, April 26 (Reuters) - Japan's Honda Motor Co (7267.T) on Wednesday unveiled it struck a strategic collaboration agreement with Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW) as part of steps the company was taking to secure a stable supply of semiconductors. Honda will build direct relationships with chip producers for the long-term stable supply of chips, chief executive Toshihiro Mibe said at a news conference where he laid out the automaker's business strategy. "Honda will work closely together with Tier 1 suppliers and semiconductor makers and move forward with drastic steps," Mibe said, adding it had reached a basic agreement on strategic collaboration with TSMC. Honda also said it planned to introduce four new electric vehicle (EV) models in Japan by 2026.
☆ Honda reports 22% rise in Q3 operating profit, beating estimates
  + stars: | 2023-02-10 | by ( ) www.reuters.com   time to read: +1 min
Companies Honda Motor Co Ltd FollowTOKYO, Feb 10 (Reuters) - Japan's Honda Motor Co (7267.T) on Friday posted a better-than-expected 22% rise in third-quarter operating profit, as a weak RBRyen helped offset rising raw material costs and lower vehicle production and sales amid chip supply shortages. Operating profit for the three months to Dec. 31 stood at 280.4 billion yen ($2.13 billion). That compared to an average estimate of 239.4 billion yen in a poll by 11 analysts by Refinitiv and a 229.4 billion yen operating profit the same period a year earlier. The automaker stuck to its annual operating profit forecast of 870 billion yen for the year through March, compared with an 871.28 billion yen average forecast by 21 analysts. ($1 = 131.5500 yen)Reporting by Daniel Leussink; Editing by David DolanOur Standards: The Thomson Reuters Trust Principles.
☆ Honda to start producing new hydrogen fuel cell system co-developed with GM
  + stars: | 2023-02-02 | by ( ) www.reuters.com   time to read: +1 min
TOKYO, Feb 2 (Reuters) - Japan's Honda Motor Co (7267.T) said it will start producing a new hydrogen fuel cell system jointly developed with General Motors Co (GM.N) this year and gradually step up sales this decade, in a bid to expand its hydrogen business. The Japanese carmaker is seeking to expand the use of its new system not only for its own fuel cell electric vehicles (FCEVs), but also commercial vehicles such as heavy trucks, as stationary power stations and in construction machinery. Honda will start production of the hydrogen fuel cell system through its joint venture with GM this year, Honda senior managing executive director Shinji Aoyama told reporters during a company event in Tokyo. With the "next-generation" system, the company aims to more than double durability compared with its older fuel cell system and to bring costs down by two-thirds. That would likely lead to a divergence in trucks using batteries and those running on fuel cells, he added.
☆ Honda posts 16% rise in Q2 operating profit, missing estimates
  + stars: | 2022-11-09 | by ( ) www.reuters.com   time to read: 1 min
TOKYO, Nov 9(Reuters) - Japan's Honda Motor Co (7267.T) on Wednesday posted a 16% rise in second-quarter operating profit, missing analysts' estimates. Operating profit totalled 231.2 billion yen ($1.59 billion)in the three months to end-September, versus an average estimate of 243.3 billion yen profit in a poll of 10 analysts by Refinitiv. The same period a year earlier, the company earned 198.9 billion yen. ($1 = 145.7500 yen)Reporting by Satoshi Sugiyama; Editing by David DolanOur Standards: The Thomson Reuters Trust Principles.
☆ Japan's Honda launches new EV model in China
  + stars: | 2022-11-05 | by ( ) www.reuters.com   time to read: +1 min
TOKYO, Nov 5 (Reuters) - Japan's Honda Motor Co (7267.T) unveiled the second model of its new China-only electric vehicle (EV) lineup on Saturday, targeting the fast-growing, battery-driven car segment in the world's largest auto market. It began selling the first model in China in April. "Honda is transforming itself into an electric brand in China with a series of unique and diverse electric mobility products that only Honda can offer," said Honda CEO Toshihiro Mibe in a statement. Honda laid out a target to roll out 30 EV models globally and produce some 2 million EVs a year by 2030 earlier this year. Last year, it said it would introduce only electrified vehicle models in China after 2030, including battery electric, hydrogen fuel-cell or petrol-electric automobiles.
☆ Honda launches new EV model in China
  + stars: | 2022-11-05 | by ( ) www.reuters.com   time to read: +1 min
TOKYO, Nov 5 (Reuters) - Japan's Honda Motor Co (7267.T) unveiled the second model of its new China-only electric vehicle (EV) lineup on Saturday, targeting the fast-growing, battery-driven car segment in the world's largest auto market. It began selling the first model in China in April. "Honda is transforming itself into an electric brand in China with a series of unique and diverse electric mobility products that only Honda can offer," said Honda CEO Toshihiro Mibe in a statement. Honda laid out a target to roll out 30 EV models globally and produce some 2 million EVs a year by 2030 earlier this year. Last year, it said it would introduce only electrified vehicle models in China after 2030, including battery electric, hydrogen fuel-cell or petrol-electric automobiles.
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