Honda Financial News

By Joseph White and David Shepardson

General Motors have jointly announced the discontinuation of their partnership aimed at producing affordable electric vehicles from 2027, AFP reported. The decision comes after extensive studies and analysis, the joint statement said. However, no specific reason was provided.

Honda and US giant General Motors said Thursday they were scrapping a tie-up that was aimed at producing «affordable» electric vehicles from 2027. «After extensive studies and analysis, we have come to a mutual decision to discontinue the program,» the firms said in a joint statement. No reason was given, but automakers are reportedly slowing expansion plans in EVs because of cooling demand, particularly in China. GM said this week that it was «moderating the acceleration of EV production in North America to protect our pricing, adjust to slower near-term growth in demand, and implement engineering efficiency and other improvements». GM and other US automakers have also been hit by a lengthy strike by factory workers in the United States. Japanese automakers have lost market share in key markets in recent years due in part to a slow rollout of EV's, having long focused on hybrid vehicles instead. The tie-up announced in 2022 aimed to develop electric cars cheaper than the US firm's planned $30,000 Chevrolet Equinox. Honda added that it still hoped to achieve 100 percent electrified vehicle sales by 2040. Honda and GM are still working together in other areas, including a recently announced plan to launch driverless taxis in Tokyo in 2026.

TOKYO (Reuters) -Honda Motor and General Motors (NYSE:GM) are scrapping a plan to jointly develop affordable electric vehicles (EVs), the companies said on Wednesday, just a year after they agreed to work together in a $5 billion effort to try to beat Tesla (NASDAQ:TSLA) in sales.

Omega Seiki Mobility a leading electric vehicle maker has inked a strategic partnership with Honda Power Pack Energy India to incorporate its swappable battery technology in its electric three-wheelers.

Electric vehicle maker Omega Seiki Mobility on Friday announced a strategic partnership with Honda Power Pack Energy India (HEID) for implementing battery swap technology in over 10,000 passenger and cargo vehicles in the next two years. Under this collaboration, HEID, the subsidiary company of Japanese automobile giant Honda Motor, will provide OSM (Omega Seiki Mobility) swappable batteries for its EVs and set up a network of quick interchange stations in Tier-I cities pan-India, OSM said in a statement. Honda's battery swap service enables auto rickshaw drivers to swap discharged batteries with fully-charged ones at strategically located battery stations, OSM said, adding that the technology significantly reduces initial EV purchase costs, alleviates concerns about range limitations, and minimizes downtime associated with battery recharging. «The swappable battery technology represents a paradigm shift, offering unparalleled efficiency and environmental advantages. It perfectly aligns with our vision of rapid, clean, and accessible electric transportation,» said Uday Narang, founder and Chairman of Omega Seiki Mobility.

The automotive experts at Edmunds test SUVs of all shapes, sizes and prices

Comodo Motors general manager Jordan Baker joins The Big Money Show to discuss the impact on auto dealers and car buyers from the ongoing UAW strike.

PM Modi to flag off India's first, fastest urban transit system RAPIDX train in Delhi NCR next week. Details here Notably, this change requires the development of a new detailed project report (DPR), which is likely to delay in the project's timeline. According to the updated plan, the RapidX track is set to run along the Delhi-Jaipur side of the expressway, extending from Aerocity to Cyber Hub.

The Honda Pilot has become a byword for the affordable midsize SUV

Hyundai announced its plans to adopt Tesla's electric vehicle (EV) charging standards. This strategic decision positions Hyundai alongside other automotive giants such as Ford, General Motors, Honda, and Polestar, all seeking to provide their drivers access to Tesla's rapidly expanding supercharger network as the electric vehicle competition intensifies.

Kia Seltos, Mahindra XUV700, Honda City and Hyundai Venue amid continued strong demand. While Kia India has raised prices of its newly launched Seltos, as well as multipurpose vehicle Carens, by up to ₹50,000 with effect from October 1, Mahindra's popular SUVs Scorpio Classic, Scorpio-N, XUV300, XUV700, Thar have become dearer by up to ₹81,000. Hyundai too has increased prices of its SUVs Venue and Tucson by up to ₹48,000. Prices of Honda Cars' City and Amaze sedans have also been increased, albeit by a more modest up to ₹7,900. Some carmakers said a rise in input costs, which were not fully passed on to customers last year, necessitated the latest revision in vehicle prices.

Traffic fatalities dropped 3.3% in the first half of the year compared with the prior-year period, according to the National Highway Traffic Safety Administration

₹90,567 in Delhi. This motorcycle can be found at all Honda Red Wing dealerships nationwide for a limited time, and bookings are already underway. The model gets a sporty aura through its distinctive and sharp design.

Maruti Suzuki, Hyundai, Kia, Honda, Tata Motors and Mahindra build up inventory. Automakers have raised production by up to 25% to clear the 650,000-unit order book and expected record-breaking festive season sales amid sustained consumer demand. The industry anticipates selling more than a million cars, sedans and sports utility vehicles this festive season, exceeding 934,000 sold in the 2021 season and 892,000 units in 2022. The festive season accounts for 30-35% of retail auto sales. The industry sold a record 359,228 vehicles in August. Maruti Suzuki is fine-tuning production to roll out more of its best-selling models — such as the Fronx, Brezza and Ertiga — to capitalise on the demand. Its South Korean rival, Hyundai Motor, has increased annual production capacity by up to 60,000 units and is working to hasten deliveries of its range of SUVs, with latest offering Exter notching up more than 76,000 bookings. Honda Cars has started running its plant on Saturdays to ensure timely deliveries of recently introduced SUV Elevate.Dussehra-Diwali Deliveries Kia India, in addition to raising production from October, has introduced two more variants of the newly refreshed Seltos that require fewer microchips, to reduce wait times.

Hindustan Times. Ahamed was chosen as India's wildcard entry for the MotoGP Bharat Grand Prix in the Moto3 category and is on a Honda NSF250R at the ongoing event.

Autosport, Aprilia's Aleix Espargaro clearly said that riders are standing united on the subject of track safety. They also made their point that they will inspect it themselves on Thursday, before voting on whether to race or not. While track safety was an issue to consider, another major issue popped in -- visa issues.

Marc Marquez is among several riders who have had their travel plans for this week's Indian MotoGP disrupted by visa delays. «Flight delayed due to lack of visa for #IndiaGP.

MotoGP round in India, including six-time champion Marc Marquez, are awaiting their visas ahead of the race this weekend. Sources in Repsol Honda Team confirmed to PTI that the arrival of its riders Marquez and Joan Mir in India has been delayed due to visa issues. Both the Spanish drivers were scheduled to visit the Honda India factory in Manesar on Wednesday but now that visit stands cancelled. «The riders are yet to reach India due to visa issues.

Also read: MotoGP Bharat set to host IndianOil Grand Prix: Check date, tickets, livestreaming details here All the safety bikes and cars have arrived at the Buddh International Circuit ahead of MotoGP Bharat. According to the media reports, a total of three safety cars, including a BMW M5CS will be present at the venue during the races. The rest of the safety cars- BMW M2 (G87) and BMW M3 touring will land at the venue on 24 September.

It’s a confusing time to buy a car. After three years of surging prices, limited choices and long waits, the new and used markets were starting to stabilize. Now, a United Auto Workers strike of General Motors, Ford Motor and Jeep-maker Stellantis is poised to worsen the already tight supply of popular models, dealers and industry analysts say.