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☆ Honda to build $11 billion electric vehicle hub in Canada
▼ + stars: | 2024-04-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

A Brand new Honda Pilot is displayed on the sales lot at Honda Marin on February 06, 2024 in San Rafael, California. DEROIT – Honda Motor and yet-to-be-named joint venture partners plan to invest $11 billion in Ontario, Canada, to create a "comprehensive EV value chain," the Japanese automaker announced Thursday. Honda said vehicle production will begin in 2028, with annual vehicle capacity of 240,000 units once it's fully operational. Prime Minister of Canada Justin Trudeau said during a livestreamed press conference Thursday that Honda's investment, $15 billion Canadian, is the largest ever for the country's automotive industry. The investment is a major win for Canada and comes after Honda last year confirmed a $4.4 billion investment for a new U.S. battery plant in Ohio.

Persons: Honda Marin, DEROIT, Honda, Canada Justin Trudeau, Toshihiro Mibe Organizations: Honda, North, Canada, LG Energy Locations: San Rafael , California, Ontario, Canada, Alliston , Ontario, North America, U.S, Ohio

The U.S. has passed a series of export controls starting in October 2022 aimed at restricting China's access to advanced chip technology, particularly those used in AI applications. According to data from tech consultancy Omdia, China consumes nearly 50% of the world's semiconductors as it is the biggest market for assembling consumer devices. But, soon after, it was reported that Nvidia was working on a new chip made for China. The company did not respond to a request for comment on their plans for the China market. An analysis of Huawei's Mate 60 Pro smartphone by TechInsights revealed an advanced chip made by China's top chip maker, SMIC.

Persons: Wong Yu Liang, Chris Miller, William B, Bailey, Donald Trump, TechInsights Organizations: AMD MU, P Global, Intel, Broadcom, Qualcomm, Marvell Technology, U.S, The, CNBC, Nasdaq, Intelligence, Micron Technology, AMD, Nvidia, Huawei, Semiconductor Industry Association, America's Micron, country's Cyberspace Administration, Micron Locations: China, The U.S, U.S, Washington, Xi'an, Netherlands, Beijing

It is up to the six-member elections commission, evenly divided between Democrats and Republicans, to decide whether there are sufficient signatures to trigger the recall election. Recall organizers said they submitted nearly 11,000 signatures to the Wisconsin Elections Commission on Monday. But after an initial review of those signatures, commission staff said there were 9,053 potentially valid signatures. Only 3,364 signatures collected are in the new Assembly district that Vos resides in, which would also fall short of the total needed. If a petition is determined to be sufficient, a recall election must be called for six weeks later.

Persons: Donald Trump, Wisconsin's, Robin Vos, Circulators, Vos, Joe Biden's, Tony Evers, Evers, Matthew Snorek, Snorek, Trump, Meagan Wolfe Organizations: —, Republican, Republicans, Trump, Wisconsin Supreme, Democratic Gov, Assembly District, District, GOP Locations: MADISON, Wis, Wisconsin, Wisconsin’s Racine, Burlington

Union wages, and the battles to keep them, have elevated the fortunes of countless Black families, Brooks said. “Black people could take advantage of that and buy homes in neighborhoods throughout Detroit,” Perry said. “Without the union jobs, (employers) can do anything, say anything and you're out the door,” she said. Only about 25% of Detroit's residents are in that range, and about two-thirds of city residents earn less than $50,000 per year, Goss said. Martin described her childhood during the 1970s and 1980s in her predominantly Black Detroit neighborhood as among the “happiest times” of her life.

Persons: WAYNE, Britney Johnson, Johnson's, “, ”, Tracy Brooks, Johnson, Brooks, Bobbie Allen Sr, Allen, ” Brooks, Andre Perry, ” Perry, Mike Duggan, Anika Goss, Goss, Yolanda Martin, Martin, Tracy Hadden Loh, ” Martin, ” ___ Jefferson, Rhonda Shafner Organizations: Black, United Auto Workers, Ford, Union, General Motors, Ford Motor, Blacks, Brookings Metro, Brookings Institution, Daimler Chrysler, Fiat Chrysler, PSA Peugeot, Detroit Future, Chicago . Locations: Mich, Ford's Wayne, Texas, Michigan, Detroit, Stellantis, U.S, Chicago, Black Detroit, Rosedale, Grandmont, Novi, New York

☆ Airbus opens new assembly line for small jets in A380's shadow
▼ + stars: | 2023-07-10 | by ( Tim Hepher | ) www.reuters.com time to read: +3 min

Airbus says the new line will create 700 jobs by 2026, about half the full-time total when the world's largest jet was built there, while supporting a fabric of thousands of suppliers. It is the eighth assembly line for the A320 family, with previously announced expansion plans in the United States and China due to bring the worldwide total to 10. Its opening comes as competition between Airbus and arch-rival Boeing (BA.N) shifts towards production strategy, with both companies struggling to deliver on bulging order books. Environmental critics say burgeoning sales of the current generation of jets will make it harder to meet climate goals. Le Maire told Reuters aircraft like the A321 still offered significant savings in emissions compared to jets they replace.

Persons: Luc Lagardere, Bruno Le Maire, Emmanuel Macron, Le Maire, Tim Hepher, Richard Lough, David Evans Organizations: Airbus, French Finance, Boeing, Concorde, Reuters, Thomson Locations: TOULOUSE, France, Toulouse, United States, China

☆ Chinese economic planner woos European giants Airbus, BMW despite unresolved tensions over Ukraine
▼ + stars: | 2023-06-23 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The Chinese planner said it supports domestic airlines cooperating with Airbus according to their needs. He also witnessed the signing of the agreements between the NDRC and the European companies separately in Berlin and Paris, according to the Chinese planner. Relations are also strained from recent moves by European Union regulators and governments to limit China’s access to sensitive technology. In March, the European Commission president Ursula von der Leyen called on Europe to reassess its diplomatic and economic relations with China. “Germany is committed to actively broadening our economic relations with Asia and beyond,” Scholz said at a joint press conference with Li, according to French news agency AFP.

Persons: Guillaume Faury, Zheng Shanjie, Li Qiang, Li, Ursula von der Leyen, Olaf Scholz, ” Scholz, China’s Sinochem Organizations: Hong Kong CNN, Moscow, Airbus, BMW, Mercedes, Benz, Volkswagen, Siemens, BASF, National Development, Reform Commission, Union, ASML, European, AFP Locations: Hong Kong, China, Ukraine, Paris, Tianjin, Europe, European, Berlin, Beijing, Russia, United States, Netherlands, Germany, Asia, Italy

The plan comes a day before an annual shareholders meeting where governance and strategy - including a slow pivot to battery EVs under former CEO Akio Toyoda - will be scrutinised. Toyota said it aims to launch next-generation lithium-ion batteries from 2026 offering longer ranges and quicker charging. At the high end of the market, Toyota said it would produce an EV with a more efficient lithium-ion battery offering a range of 1,000 km (621 miles). An EV powered by a solid-state battery would have a range of 1,200 km and charging time of just 10 minutes, Toyota said. "What we want to achieve is to change the future with BEVs," Takero Kato, president of new Toyota EV unit BEV Factory, said in a video posted on the automaker's YouTube channel on Tuesday.

Persons: Akio Toyoda, Koji Sato, Takero Kato, BEV Factory, Henry Ford, Koji Endo, Toyota's, I'm, it's, Toyota's BEV Factory, Kato, Tesla, Daniel Leussink, Christopher Cushing, Kevin Krolicki Organizations: Toyota, EVs, Tesla, Engineers, Toyota EV, YouTube, NEW ASSEMBLY, SBI Securities, Lexus, Thomson Locations: TOKYO, China

☆ Ferrari does not need to buy other supercar makers, CEO says
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +1 min

Companies Ferrari NV FollowMILAN, June 5 (Reuters) - Ferrari (RACE.MI) has no plans to purchase other sports car makers, the company's Chief Executive Benedetto Vigna said on Monday. "I don't think it makes sense for us to buy other supercar makers," Vigna said during a conference organized by Bloomberg, replying to a question about possible M&A operations by the Italian company. Vigna said Ferrari would finish building a new assembly facility, its so called 'e-building', in its Maranello hometown in June next year. The CEO said that Ferrari would not only be making fully-electric cars on the new assembly-line. Reporting by Giulio Piovaccari, editing by Gavin JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Benedetto Vigna, Vigna, Ferrari, Giulio Piovaccari, Gavin Jones Organizations: MILAN, Bloomberg, Thomson Locations: Italian

☆ Chile right-wing parties win majority in vote to draft new constitution
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +3 min

[1/4] A citizen casts their vote at a polling station during elections for a new assembly to draft constitution, at the Estadio Nacional, in Santiago, Chile April 7, 2023. REUTERS/Ivan AlvaradoSANTIAGO, May 7 (Reuters) - Chilean right-wing parties won a majority of votes on Sunday to elect advisers to draft a new constitution, marking a sharp shift from a progressive majority that drafted a failed first constitutional rewrite. With 95.13% of ballots tallied, Chile's Republican Party, led by former conservative firebrand presidential candidate Jose Antonio Kast, secured nearly 35% of the vote. A separate coalition of traditional right-wing parties gained just over 20% of the vote, while President Gabriel Boric's left-wing coalition garnered about 29%. "I want to invite the Republican Party, that's won an unquestionable majority, to not make the same mistakes we made," Boric said.

"This is the right's best chance for people to pick a Pinochet constitution without Pinochet's signature," said Patricio Navia a political scientist at New York University. "The political climate in Chile isn't the same as in 2019 or 2020," said political analyst Cristobal Bellolio. An estimated 3,200 Chileans were murdered and another 28,000 tortured by the state during Pinochet's rule. Many of the victims were affiliated with the socialist government of Salvador Allende, who was deposed in a 1973 coup. "The issue is that if it's more right then Pinochet's constitution, people are going to reject it," Navia added, who added the loss for Boric left the leader who once promised to bury Chile's market-led model sorely wounded.

☆ After a 35-year break, the US Navy is building frigates again, and it has a lot of catching up to do
▼ + stars: | 2023-05-07 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

Fincantieri plans to lay the keel of that ship, USS Constellation, this August. It will be the US Navy's first frigate since the retirement of its last Oliver Hazard Perry-class frigate in 2015. FrigatesUS Navy first-in-class frigate USS Oliver Hazard Perry in late 1977. Though not intended to operate alone against enemy capital ships, frigates are now primarily used to support destroyer squadrons and carrier battle groups by performing escort, anti-submarine, anti-air, and limited anti-surface missions. US Navy guided-missile frigate USS Curts in a dry dock at a shipyard in California in January 1982.

REUTERS/Jason Redmond/File PhotoPARIS/WASHINGTON, April 19 (Reuters) - Planemakers have signalled a shift in production strategy to make factories more resilient to recent supply disruptions by adding "surge capacity," even where that means extra cost. "We live in a supply constrained environment ... Our focus is on both capacity and quality. "To support the supply chain, we've increased on-site presence, we've ramped up internal fabrication for surge capacity and we've increased inventory of select parts for risk protection." DEFENDING AVERAGE OUTPUTPlanemakers only rarely speak of "surge capacity" in the aerospace production system, which is seen as more capital-intensive and less nimble than in consumer-facing industries. Although auto firms rely heavily on overtime to meet peak demand, analysts say there are examples of automakers installing surge capacity for a successful product.

☆ Analysis: China’s Xpeng takes cues from Tesla for its new EV platform
▼ + stars: | 2023-04-18 | by ( Paul Lienert | ) www.reuters.com time to read: +3 min

[1/2] He Xiaopeng, the co-founder, chairman and CEO of XPeng Motors attends a news conference ahead of the Shanghai Auto Show, in Shanghai, China April 16, 2023. "It's obvious the design of the (G6) came from the Model Y," industry analyst Sandy Munro told Reuters. Xpeng's simplified vehicle platform design - in effect, a three-piece frame that is both flexible and scalable - saves on parts, tooling, development and assembly time, and appears to have been lifted from Tesla, according to Munro. Such a platform has the potential to give Tesla, Xpeng and other automakers considering this approach a new weapon to help restore margins hit by recent price wars in China and other markets. Reporting by Paul Lienert in Detroit, Editing by Ben Klayman and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Low voter turnout may hurt Cuba's one-party system
▼ + stars: | 2023-03-24 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsLow voter turnout may hurt Cuba's one-party systemPostedAs Cuba's legislative elections approach, declining voter turnout could threaten the new assembly's credibility and add to a growing sense of malaise in a country that has been a Communist-run state since shortly after the 1959 Cuban Revolution. Tamara Lindstrom produced this report.

☆ As Cuba election day nears, some voters ask, 'why bother?'
▼ + stars: | 2023-03-22 | by ( Dave Sherwood | ) www.reuters.com time to read: +4 min

HAVANA, March 22 (Reuters) - Like a growing number of Cubans, 77-year-old Havana resident Humberto Avila says he will likely sit out Sunday's legislative elections. The retired university professor says he's done the math - 470 candidates, 470 open seats - and sees no point in voting. Abstention has spiked in recent elections, rising to a four-decade high of 31% of eligible voters in municipal elections in November. "This vote is for the Revolution ... and to continue to defend our socialist system," Diaz-Canel told textile workers in Santa Clara. Rey Lazaro Blanco, a 19-year old geography student at the University of Havana, told Reuters he will vote on Sunday.

But production is running at least a third below plan, keeping the Ariya from shipping to new customers, according to three of the people and production planning notes reviewed by Reuters. Implementation has proved "an extremely, extremely high challenge" and the advanced paint line has become a persistent headache, one of the people said. In a statement to Reuters, Nissan said Ariya production had faced challenges including supply of semiconductors, disruptions in components shipments and the factory's paint line. EVs accounted for just 4.5% of Nissan's global sales of 3.2 million vehicles in 2022. Output over the next two months is expected to fall short of that, according to production planning notes from last month reviewed by Reuters.

☆ Carmaker BMW to invest around $870 mln in Mexico in EV push
▼ + stars: | 2023-02-03 | by ( Kylie Madry | ) www.reuters.com time to read: +2 min

[1/4] Milan Nedeljkovic, BMW’s head of production, and Harald Gottsche, President and CEO at BMW Group Plant San Luis Potosi, shake hands during the announcement of a multimillion dollar expansion at the plant of German automaker BMW in San Luis Potosi, Mexico February 3, 2023. REUTERS/Toya Sarno JordanSAN LUIS POTOSI, Mexico, Feb 3 (Reuters) - German automaker BMW (BMWG.DE) will invest 800 million euros ($866 million) in the central Mexican state of San Luis Potosi to produce high-voltage batteries and fully electric "Neue Klasse" models, the carmaker said Friday. Gottsche added the Mexico plant was in the process of increasing its solar production on-site and swapping out natural gas for biomethane. Mexico has also increasingly made the push for EVs as it looks to turn half of auto production electric by 2030. ($1 = 0.9236 euros)Reporting by Kylie Madry in Mexico City; Additional reporting by Toya Sarno Jordan in San Luis Potosi; Editing by Chizu Nomiyama and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Guaido in 2019 won the recognition of scores of nations including the United States after the widely disputed election that kept Nicolas Maduro in power. The removal of the interim government "ended up undermining attachments among opposition leadership," said Piero Trepiccione, of Caracas' Gumilla thinktank. The opposition, many of whose leaders are in exile or barred from politics, has not held a primary for a decade. The United States has said it will continue to recognize the opposition assembly. Changing the presidential election to this year instead of next may also serve Maduro, Nicholas Watson of consulting firm Teneo said in a report.

☆ Shift to EVs Triggers Biggest Auto-Factory Building Boom in Decades
▼ + stars: | 2023-01-01 | by ( Nora Eckert | ) www.wsj.com time to read: 1 min

The U.S. auto industry is entering one of its biggest factory-building booms in years, a surge of spending largely driven by the shift to electric vehicles and new federal subsidies aimed at boosting U.S. battery manufacturing. Through November, about $33 billion in new auto-factory investment has been pledged in the U.S., including money for the construction of new assembly plants and battery-making facilities, according to the Center for Automotive Research, a nonprofit organization based in Michigan.

☆ In California, 10% of Legislature now identifies as LGBTQ
▼ + stars: | 2022-11-22 | by ( Associated Press | ) www.nbcnews.com time to read: +8 min

People by and large are totally fine with LGBTQ people, they support us, they are accepting and willing to vote for LGBTQ candidates,” California state Sen. Scott Wiener, a member of the LGBTQ Caucus, said Monday. Meanwhile, the Legislature has not yet reached parity in gender or in race and ethnicity, according to statistics from the California State Library. New Hampshire and Vermont have each had more LGBTQ legislators, according to the institute, but their legislatures are bigger than California’s and so have not reached the 10% threshold. Alaska and South Dakota elected their first out LGBTQ legislators, and Montana and Minnesota elected their first transgender legislators, according to the Human Rights Campaign. By contrast, “as California’s Legislative LGBTQ Caucus has grown, the state has led the nation in passing groundbreaking legislation protecting LGBTQ+ civil rights,” said Equality California spokesperson Samuel Garrett-Pate.

Data from Bloomberg Economics shows that El Salvador tops its ranking of emerging market countries that are vulnerable to a debt default. Another survey by the institute found that 76 out of 100 small and medium-size enterprises in El Salvador do not accept bitcoin payments. But in 2022, recent data shows that only 1.6% of remittances were sent to El Salvador via digital wallets. Meanwhile, its other national currency, bitcoin, is revered for the fact that it, too, is impossible to mint out of thin air. "Bitcoin doesn't solve any of El Salvador's important economic problems," he added.

☆ CEO steers electric truck startup Rivian through supply chain twilight zone
▼ + stars: | 2022-04-18 | by ( Joseph White | ) www.reuters.com time to read: +6 min

An employee works on an assembly line at startup Rivian Automotive's electric vehicle factory in Normal, Illinois, U.S. April 11, 2022. Chip suppliers are skeptical of the young electric vehicle company's capability to hit promised production numbers. As part of that effort, Rivian has opened the doors to its Normal factory for supplier executives and the media. Before the price hike, the most expensive Rivian vehicle was priced at $83,000. Rivian vehicles have about 2,000 parts, he said.

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