Honda's Continued Chip Woes Will Hit North America Hardest

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7h

Honda to set up $11 bln electric vehicle, battery plants in Canada: Honda Motor plans to invest C$15 billion ($11 billion) in new EV and battery production ...

reuters.com/business/autos-transportation/honda-set-up-11-bln-ev-production-base-canada-2024-04-25/

Quick Glance: Honda to Establish $11 Bln EV, Battery Plants in Canada

Honda plans to invest C$15 billion in new EV and battery production plants in Ontario alongside existing facilities to support the growth of North American demand for EVs.

Production is set to start by 2028, with an annual capacity of up to 240,000 EVs and 36 gigawatt-hours for batteries to achieve the goal of having all North American sales from Honda be either EVs or fuel cell vehicles by 2040.

The Canadian government and Ontario province intend to support Honda with around C$5 billion, with Honda contributing 60%-70% of the total investment to reduce costs by more than 20%.

Honda will also collaborate with companies like Asahi Kasei and POSCO to further lower production costs and strengthen the EV supply chain in Canada, leading to an increase in jobs and economic growth.

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Apr 23

General Motors beats quarterly results targets, raises forecast: General Motors on Tuesday posted quarterly results that topped Wall Street targets and raised ...

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Apr 24

GM CEO Barra compensation fell 4% in 2023 to $27.8 million: General Motors CEO Mary Barra's total compensation in 2023 fell 4% to $27.8 million, the largest U.S ...

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Apr 22

Honda will build electric vehicles and their parts in Ontario with financial support from the Canadian and provincial governments under a plan to be announced ...

reut.rs/3Jtd1yn

Quick Glance: Honda's Major Investment in Electric Vehicle Factory in Ontario

According to sources from federal and provincial government levels, Honda is planning to establish a significant new electric vehicle facility in Ontario.

The forthcoming announcement of the agreement is expected to take place at Honda's facility in Alliston, where plans for a comprehensive project to manufacture electric vehicles, batteries, and components will be revealed.

Honda's investment in Alliston is projected to surpass the existing major projects in the electric vehicle production sector in Ontario.

The disclosure of the agreement with Honda is seen as a significant step in the government's efforts to attract companies for establishment in Canada within the emerging electric vehicle industry.

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Apr 24

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Honda to set up $11 bln electric vehicle, battery plants in Canada Show more

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Apr 24

GM trucks drive Q1 profitability as EVs begin to gain traction: GM positive now that contract talks with the United Auto Workers are over, and its ability to ...

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Apr 23

How China Can Keep the Global Electric Vehicle Market Aloft: BloombergNEF expects the country’s plug-in car sales to approach 10 million this year.

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Apr 24

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Apr 25

Japan is poised to fill an EV gap left by China: A new Honda facility in Canada shows that Asia’s auto industry is ready to meet North American needs.

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Apr 18

You can power your home for 21 days with a Chevy Silverado EV and GM’s new bidirectional charger

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Apr 24

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Apr 22

Automakers hope for a cut as two-way EV charging becomes real: Automakers from General Motors to Volvo Cars , alongside utilities and charging app operators are ...

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Apr 19

GM and Ford count on gas-powered trucks as EV growth slows: U.S. automakers General Motors and Ford face a challenge in common when they report first-quarter ...

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Apr 23

Morning Bid: Risk asset resilience, Indonesia's rate call: A look at the day ahead in Asian markets.

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Apr 23

Morning Bid: Eyes on PMIs for rebound signs: A look at the day ahead in European and global markets from Tom Westbrook

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Quick Glance: Overview: Tesla Stocks Plummet, Europe Business Surpasses Expectations

World markets have brightened slightly this week, but Tesla is facing a critical earnings test, while Europe's business pulse has surprisingly been lively this month.

Following the worst week on Wall Street since 2022, relief from easing Middle East tensions helped stabilize the situation on Monday. The chip giant Nvidia made a modest recovery from losses as Big Tech megacaps gear up for quarterly earnings releases.

As the first of the 'Magnificent 7' Vanguard stocks, electric vehicle giant Tesla will report on Tuesday, having plummeted by a substantial 43% year-to-date and nearly 60% over the past two years amidst fierce price competition, declining EV demand, and governance/product concerns.

While Big Tech jitters define this month's market fluctuations, investors will closely watch the upcoming results for a clearer perspective.

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Apr 23

Honda near agreement with Canada on $6bn EV plant : TOKYO -- Honda Motor is set to reach an agreement with the Canadian government on a project to build a new ...

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Apr 23

GM Raises Profit Guidance as Truck Sales Overshadow China Slump: General Motors Co. expects better profit this year after a strong first quarter ...

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Apr 17

BYD’s Push Into Electric SUVs and Premium Cars Is a Threat to More Than Just Tesla

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Apr 20

To beat China EVs, Honda supplier and ArcelorMittal look beyond gigacasting: TOKYO -- Honda Motor group supplier G-Tekt will partner with global steelmaking ...

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Apr 24

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Apr 19

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Apr 20

Doyel: Colts GM Chris Ballard wants playmakers for QB Anthony Richardson in 2024 NFL Draft

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Apr 17

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Apr 22

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Apr 15

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Apr 23

GM hopes new EVs like the $35K electric Chevy Equinox will help win back market share

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Apr 19

Honda to invest $808 million in Brazil by 2030: Japanese automaker Honda will invest 4.2 billion reais ($807.74 million) in its Itirapina plant in Brazil by 2030 ...

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Apr 15

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Apr 16

Honda to launch next-generation EVs in China by 2027

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Apr 23

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Apr 25

Ford first quarter earnings bruised by 2024 F-150 launch, but revenue up 3%: Ford executives highlight strength of Ford Pro, adjustments with Ford Blue (expected ...

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Apr 21

Volkswagen Workers Vote ‘Yes’ to a Union. What That Means for GM and Ford.: Volkswagen employees in Tennessee agree to be represented by the United Auto Workers.

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Apr 15

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Apr 18

GM just opened a sprawling new design center that will help shape the future of its cars

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Apr 21

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Apr 10

Ford, GM Stock Price Targets Are Rising. Wall Street Trims Tesla Stock.

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Apr 21

Brad Holmes not worried about your CB fetish. Detroit Lions GM drafts who he wants.

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Arizona Coyotes players told team is relocating to Salt Lake City, reports say: GM Bill Armstrong told the team it would relocate to Salt Lake City and the move ...

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Quick Glance: Reports suggest Arizona Coyotes potentially relocating to Salt Lake City

Arizona Coyotes general manager Bill Armstrong traveled to Edmonton to brief the team on relocation rumors.

According to multiple reports, the team was reportedly informed about an upcoming relocation to Salt Lake City.

Two schedules were created for the upcoming season, one for Salt Lake City and one for Arizona.

There are still uncertainties surrounding the future of the franchise, with an official announcement of the sale scheduled for April 18.

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Apr 25

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Apr 13

Jared Goff, Brad Holmes appear to be creating a grievance culture within Detroit Lions

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Apr 16

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Apr 12

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Apr 18

Honda to launch next-generation EVs in China by 2027: The carmaker added that it also planned to roll out a total of 10 Honda-brand EV models in China by 2027.

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HBCU Oakwood University Is The 35th Honda Campus All-Star Challenge National Champion

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Apr 23

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Apr 22

After hours: “The one thing I don’t like is not having a clear schedule; or when the day starts running me instead of it being the other way around,” Gupta said

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Apr 11

GM's Fort Wayne plant to take time off for next-gen truck prep: As a result, four other GM facilities will also have to take downtime.

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Apr 10

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Apr 19

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Apr 25

Tom Izzo is running for state representative in Lansing. But it's more complicated than that

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Apr 19

Lions GM Brad Holmes may not make pick in NFL draft Round 1. It's probably the right call.

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5 female GM candidates who could make history with Columbus Blue Jackets: Castonguay to Wickenheiser, five female GM candidates who could make NHL history if ...

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Apr 21

Sharks’ Grier not ruling out coaching change after rock bottom season: San Jose Sharks GM Mike Grier on coach David Quinn's future: “I'm still kind of ...

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Quick Glance: Sharks considering coaching change after disappointing season

After a disappointing season with less than 20 wins and finishing last in the NHL standings, General Manager Mike Grier is not ruling out potential changes for the San Jose Sharks.

Despite trading high-profile players like Timo Meier and Erik Karlsson, dealing with injuries to key players, and poor performance throughout the season, Grier does not completely dismiss speculations about a coaching change.

Coach David Quinn, holding a weak record of 41-98-25, highlighted the challenges of the season and praised the team's morale strength in light of the circumstances.

With significant cap space for the next season, Grier plans to acquire faster and more aggressive players to enhance the team's performance and prevent a repeat of the disappointing season.

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GM’s Cruise Attempts Comeback for Its Driverless Fleet—With Human Drivers First: Company suspended nationwide self-driving operations last year after California ...

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Apr 21

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Apr 12

Hall of Famer Reggie Jackson talks about Astros, role he has with team: Reggie Jackson says he left the Yankees because he no longer had any input on the team's ...

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