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☆ Honda to create division to speed up electrification development
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Jan 24 (Reuters) - Honda Motor Co (7267.T) said on Tuesday it would create a new division in a bid to strengthen and speed up its electrification business as part of an overhaul of its organisational structure. Japanese automakers have been at risk of falling behind their European and U.S. rivals in the EV market. In changes effective April 1, the new division would consolidate the Japanese automaker's electrification strategy and development of automobiles, motorcycles and power products such as generators, it said in a statement. Integrating to the three was to "rapidly develop the implementation of resource shifts in accordance with the future lineup strategy in line with the electrification acceleration," a spokesperson said in a briefing. Honda last year laid out a target to roll out 30 EV models globally and produce about 2 million EVs a year by 2030.

☆ Honda, GS Yuasa agree to collaborate in lithium-ion batteries
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Jan 23 (Reuters) - Japanese automaker Honda Motor Co Ltd (7267.T) and battery maker GS Yuasa Corp (6674.T) on Monday said they will collaborate in the high-capacity, high-output lithium-ion battery business, and plan to establish a joint venture by the end of this year. The partners said they will join in the research and development of lithium-ion batteries and production methods, and will also establish a supply chain for key raw materials and a battery production system. Reporting by Mariko Katsumura; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Honda's JV with GAC ends production of Acura brand in China
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

GAC will continue to provide after-sales services to Acura customers in China through the joint venture's network, it said in a statement to Reuters. The joint venture will continue to produce other Honda brands. Acura is the second foreign car brand to exit China, the world's largest auto market, in recent months. In October GAC said it was closing its joint venture with Stellantis (STLA.MI), which made Jeep vehicles, following a sharp decline in Jeep sales in China over the past four years. GAC-Honda, which started producing Acura cars in 2016 in China, only sold 6,554 of them in the country in 2021, down 45% from the previous year.

☆ Automakers are cautiously optimistic for a 2023 rebound after worst new vehicle sales in more than a decade
▼ + stars: | 2023-01-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Automakers are hopeful last year's new vehicle sales — the worst in more than a decade — will mark a bottom for the market, at least in the near term. Toyota Motor was down 9.6%, while Stellantis , Nissan and Honda Motor posted double-digit falls of 13%, 25% and 29.4%, respectively. But auto industry executives remain cautiously optimistic that sales will rebound in 2023, regardless of recessionary fears, rising interest rates and other economic concerns. Toyota and GM said they expect U.S. auto sales to increase to about 15 million vehicles this year. S&P Global Mobility and Edmunds expect 2023 new U.S. vehicle sales to be 14.8 million, while Cox Automotive's preliminary forecast is 14.1 million.

Automakers from Sony Honda to Hyundai are introducing ways at the CES 2023 technology trade show this week to reshape the in-car entertainment experience, including offering video games during the rides. "This is a field which can be deployed very quickly," Dirk Hilgenberg, head of Volkswagen AG's (VOWG_p.DE) CARIAD software unit, told Reuters at CES. In December, Tesla issued a "holiday update" to its software to add access to 1,000 PC games through the Steam platform. Still, these are features that consumers are demanding, so VW is at CES seeking partnerships. "We will see the content ... which is provided by software enabled functionality will be a decisive factor for buying."

☆ Sony's new "Afeela" electric vehicle with Honda to use Qualcomm tech, companies say
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: 1 min

Jan 4 (Reuters) - Sony and Honda's electric vehicle joint venture will work closely with U.S. firm Qualcomm Inc (QCOM.O) on the new "Afeela" cars, the chief executive of Sony Honda Mobility, Yasuhide Mizuno, told the CES 2023 technology trade show in Las Vegas on Wednesday. Qualcomm CEO Cristiano Amon, who also appeared at the CES presentation, said the car would use Qualcomm's "Snapdragon" digital chassis. The venture between Sony Group Corp (6758.T) and Honda Motor Co Ltd (7267.T) aims to deliver its first electric vehicles by early 2026 in North America. Reporting by Kiyoshi Takenaka; Writing by David Dolan Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Sony, Honda roll out prototype of 'Afeela' EV that will use Qualcomm tech
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

Jan 4 (Reuters) - Japan's Sony (6758.T) on Wednesday unveiled a prototype of the new "Afeela" electric vehicles it will build together with Honda (7267.T), using digital chassis from hardware maker Qualcomm Inc (QCOM.O). The Afeela, which sported rounded corners and a sleek black roof, will use more than 40 sensors, Yashuhide Mizuno, the chief executive of Sony Honda Mobility, told the trade show. It will also use the "Unreal Engine" 3-D creation tool from Epic Games, the maker of the "Fortnite" series of games. Qualcomm CEO Cristiano Amon, who also appeared at the CES presentation, said the car would use Qualcomm's "Snapdragon" digital chassis. The venture between Sony Group Corp and Honda Motor Co Ltd aims to deliver its first electric vehicles by early 2026 in North America.

☆ U.S. Senate Finance Committee asks GM, Tesla, Toyota about Chinese supply chain
▼ + stars: | 2022-12-22 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Dec 22 (Reuters) - The U.S. Senate Finance Committee asked eight major automakers, including General Motors (GM.N), Tesla (TSLA.O), Ford Motor (F.N), and Honda Motor (7267.T), to answer questions about their Chinese supply chains, according to letters made public on Thursday. Senate Finance Committee Chair Ron Wyden wrote the chief executives of major automakers inquiring about Chinese supply chain issues, saying "it is vital that automakers scrutinize their relationships with all suppliers linked to Xinjiang." Beijing denies abuses in Xinjiang, but says it had established "vocational training centers" to curb terrorism, separatism and religious radicalism. "Between raw materials mining/processing and auto parts manufacturing, we found that practically every part of the car would require heightened scrutiny to ensure that it was free of Uyghur forced labor," the report said. GM said Thursday it actively monitors its global supply chain and "conducts extensive due diligence, particularly where we identify or are made aware of potential violations of the law, our agreements, or our policies."

☆ China's CATL to provide EV batteries for Honda starting in 2024
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

[1/2] People walk past the R&D centre of Contemporary Amperex Technology Ltd (CATL) in Ningde, Fujian province, China, December 16, 2016. REUTERS/Jake Spring/File PhotoTOKYO, Dec 8 (Reuters) - Honda Motor Co (7267.T) said on Thursday that Chinese battery giant CATL (300750.SZ) would supply batteries for seven years for its electric vehicles (EV) in China. The Japanese automaker said the Chinese firm would provide 123 GWh worth of batteries starting in 2024 through 2030 for the Honda's e:N Series. Honda said at that time it would launch its first EV with a CATL battery in China in 2022 and would expand the partnership with stable EV battery supply globally in the future. It unveiled the second model of its new China-only EV lineup in November as part of its effort to roll out the e:N Series.

☆ Honda to begin selling mini-commercial electric vans in spring 2024
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Dec 7 (Reuters) - Honda Motor Co (7267.T) said on Wednesday it would begin selling micro-sized commercial electric vans in spring 2024, as part of its effort to electrify its vehicle lineups. Japanese automakers are turning to small commercial trucks as one way to make battery electric vehicles (BEVs) popular in the country, tapping into car size unique to the country amid pressure to slash its carbon footprint. Honda's electric van has a target cruising range of 200km (125 miles) and is seeking to set the price at around 1 million yen ($7,270). Commercial vehicle coalition CJPT, led by Toyota Motor Corp (7203.T), said in July it would develop small electric commercial vans with minivehicle specialists Daihatsu and Suzuki Motor Corp (7269.T). Honda in April laid out goals of producing some 2 million electric vehicles a year and 30 electric vehicle models globally by 2030.

☆ Honda SUV Engine-Failure Reports Spur Federal Investigation Into 1.7 Million Vehicles
▼ + stars: | 2022-12-07 | by ( Ryan Felton | ) www.wsj.com time to read: 1 min

Honda said it would cooperate with the National Highway Traffic Safety Administration’s investigation as it continues its own review. The top U.S. auto-safety regulator is investigating whether 1.7 million SUVs made by Honda Motor Co. should be recalled, after receiving several reports of vehicles losing power at high speeds. The National Highway Traffic Safety Administration said in a filing made public this week that it was launching the probe in response to several reports filed by Honda of vehicles allegedly losing power at highway speed without warning. The examination covers 1.72 million Honda CR-V and HR-V vehicles, including model years 2018-2022, the NHTSA said.

☆ Tesla launches EVs in Thailand amid competition from cheaper brands
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

[1/5] The Tesla Model Y is covered by black cloth during Thailand Tesla's official launch event in Bangkok, Thailand, December 7, 2022. It produces about 1.5 million to 2 million vehicles annually, of which about half are exported. Customers who showed up to Tesla's launch in a luxury mall in central Bangkok said they were interested in the new cars being offered. The price differences aren't significant (from other EV brands)," said office worker Thitipun Paisirikul, 36, adding he expected the re-sale value of the car would be high. State-owned energy firm PTT Group this year announced a $1 billion joint venture with Taiwan's Foxconn to produce EVs in Thailand.

TOKYO, Dec 6 (Reuters) - Japanese electronics and entertainment conglomerate Sony Group Corp (6758.T) said on Tuesday it has the technology to make humanoid robots quickly once it has identified how they could be effectively used. "In terms of technology, several companies in the world including this one have enough technology accumulated to make them swiftly once it becomes clear which usage is promising," Sony Chief Technology Officer Hiroaki Kitano told Reuters in an interview. Sony launched a robot dog called Aibo more than two decades ago. Humanoid robots have been in development for decades by Honda Motor Co (7267.T) and Hyundai Motor Co (005380.KS) and in September, Tesla (TSLA.O) Chief Executive Elon Musk showed off a prototype of its humanoid robot Optimus. Musk's company is floating plans to deploy thousands of the robots in its factories, expanding eventually to millions around the world.

☆ Honda to develop advanced level 3 self-driving technology by 2029
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Honda Motor Co. Ltd's all-new Legend sedan, equipped with level 3 autonomous driving technology, is displayed during an unveiling in Tokyo, Japan March 4, 2021. Honda Motor Co Ltd in March 2021 became the world's first carmaker to sell a vehicle with level 3 self-driving technology. Shikama declined to say how soon Honda would start mass-producing its level 3 self-driving vehicles. When the Japanese carmaker launched its Legend sedan with level 3 automation technology last year, production was limited to 100 units. Among its rivals, Mercedes-Benz (MBGn.DE) late last year won approval from Germany's KBA car watchdog for its level 3 driving system.

☆ Volkswagen, Honda Halt Production at China Plants Due to Covid-19 Curbs
▼ + stars: | 2022-11-30 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

HONG KONG—Auto makers in China including Volkswagen AG and Honda Motor Co. have halted production at some plants as authorities persist in using strict measures to control Covid-19 outbreaks. Volkswagen has suspended production at its Chengdu plant in southwestern China as well as two of five production lines at its plant in the northeastern city of Changchun since early last week, as a result of car-parts shortages and local health-protection measures, a spokesman said.

☆ Honda Plans New Autonomous Features but Sees Long Road Ahead to Self-Driving Cars
▼ + stars: | 2022-11-30 | by ( River Davis | ) www.wsj.com time to read: 1 min

HAGA, Japan— Honda Motor Co. said it would focus for now on partially autonomous driving technology to improve safety, adding itself to the list of auto makers that say fully self-driving cars aren’t ready for prime time. The Japanese auto maker, an investor in General Motors Co.’s Cruise self-driving unit, this week showed off a prototype system that allows a car to automatically overtake slow-moving vehicles on a highway. It plans to roll out the technology globally starting in 2024, and it says it has found ways to use less-expensive radar and sensor technologies to make the system affordable for mass-market cars.

☆ Mazda to invest $11 billion to electrify its vehicles
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +2 min

Nov 22 (Reuters) - Japan's Mazda Motor Corp (7261.T) will invest about 1.5 trillion yen ($10.58 billion)to electrify its vehicles, including boosting production of battery EVs, and aims to increase their share in the company's overall global car sales by 2030. The ratio of electric vehicles (EVs) in global sales is expected to rise to between 25 percent and 40 percent as of 2030, from 25% previously, the company said in a statement. Automakers worldwide are spending billions of dollars to ramp up battery and EV production in the face of tougher environmental regulations. In August, Toyota Motor Corp (7203.T) said it would invest up to 730 billion yen in Japan and the United States to make batteries for fully electric vehicles as opposed to hybrid gasoline-electric cars like the Prius. Shoichi Matsumoto, Envision AESC chief executive, told Reuters last month it was in talks with automakers in Japan, Europe, the United States and China for new supply deals.

☆ Mazda to invest $11 bln by 2030 to procure EV batteries - Nikkei
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

Nov 22 (Reuters) - Japan's Mazda Motor Corp (7261.T) plans to invest 1.5 trillion yen ($10.6 billion) by 2030 to procure electric vehicle (EV) batteries and cooperate with battery supplier Envision AESC, the Nikkei business daily reported on Tuesday. The Hiroshima-based automaker will secure batteries and seek to increase production of fully electric vehicles at factories in Japan through the partnership with Envision AESC, the newspaper reported. Both Mazda and Envision AESC declined to comment. Mazda is set to hold a news conference at 0530 GMT on Tuesday to talk about it medium-term business plan. Shoichi Matsumoto, Envision AESC chief executive, told Reuters last month it was in talks with automakers in Japan, Europe, the United States and China for new supply deals.

☆ 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.

☆ Binance just bought FTX. Here's how rumors of insolvency and fears of contagion led Sam Bankman-Fried into a deal.
▼ + stars: | 2022-11-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +8 min

Here's the short of it: The once-top-dog crypto firm, FTX, helmed by 30-year-old billionaire Sam Bankman-Fried, is being bought by Binance amid significant liquidity issues and rumors of insolvency. But Binance CEO Changpeng "CZ" Zhao seemed to think saving a floundering FTX was worth the risk of any future downside. CoinDesk published a revealing report on November 2 about the crypto trading firm Alameda Research, another branch of Sam Bankman-Fried's empire. It turns out that the trading firm held billions of dollars' worth of FTX's native token, FTT. Anthony Georgiades, co-founder of blockchain company Pastel Network told me he doesn't think Binance is too concerned about making those investors whole again at this point.

☆ 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

☆ Midterms could be a positive catalyst for stocks as investors await next big inflation report
▼ + stars: | 2022-11-04 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

There are two big hurdles for markets in the week ahead - another potentially hot consumer inflation report and the Congressional midterm elections. "100% of the time, the S & P 500 has been up 12 months after the midterm election." Midterm rallies Stocks tend to gain in the final months of midterm election years, and strategists have been expecting the market to move higher. CFRA Chief Market Strategist Sam Stovall said even when interest rates are climbing, the midterm election has been a catalyst for stocks. He examined market performance in other midterm election years when interest rates were going up.

☆ Some Dodge, Chrysler vehicles deemed dangerous over airbag defect
▼ + stars: | 2022-11-03 | by ( ) www.nbcnews.com time to read: +2 min

Stellantis said replacement driver-side air bags have been available for the vehicles subject to the stop driving notice since 2015. Stellantis said a Takata air bag was suspected in a third death. “Left unrepaired, recalled Takata air bags are increasingly dangerous as the risk of an explosion rises as vehicles age,” said NHTSA Acting Administrator Ann Carlson. Last year, the NHTSA opened a probe into 30 million vehicles built by nearly two dozen automakers that have potentially defective Takata air bag inflators. The 30 million vehicles that are part of the 2021 investigation have inflators with a “desiccant” or drying agent.

☆ Chrysler-parent urges 276,000 U.S. owners to stop driving after air bag deaths
▼ + stars: | 2022-11-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 3 (Reuters) - Chrysler-parent Stellantis (STLA.MI) is urged owners of 276,000 older U.S. vehicles to immediately stop driving after three crash deaths tied to faulty Takata air bag inflators were reported in the last seven months. Stellantis said replacement driver-side air bags have been available for the vehicles subject to the stop driving notice since 2015. More than 30 deaths worldwide and hundreds of injuries in various automakers' vehicles are linked to Takata air bag inflators that can explode, unleashing metal shrapnel inside cars and trucks. Stellantis said a Takata air bag was suspected in a third death. Last year, the NHTSA opened a probe into 30 million vehicles built by nearly two dozen automakers that have potentially defective Takata air bag inflators.

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