Welcome to our dedicated page for Honda Motor news (Ticker: HMC), a resource for investors and traders seeking the latest updates and insights on Honda Motor stock.
Honda Motor Co., Ltd. reports recurring developments for a global manufacturer of automobiles, motorcycles and power products whose American depositary shares trade under HMC. Company updates center on consolidated financial results, segment performance in motorcycle and automobile operations, currency and tariff effects, financial forecasts and shareholder-return actions such as share repurchases, cancellations and dividend policy.
Honda news also covers its electrification strategy, including EV and HEV sales, costs tied to electric-vehicle programs, and collaboration on lithium-ion battery recycling technologies. As a foreign issuer, the company also announces Form 20-F filings and other investor disclosures connected to its ADR program and parent-company reporting.
LG Energy Solution and Honda Motor Co. have officially established a joint venture to produce lithium-ion batteries for Honda's electric vehicles (EVs). The new facility, located in Fayette County, Ohio, will create approximately 2,200 jobs and involves a combined investment of $4.4 billion. Construction will begin early this year, aiming for plant completion by late 2024, with mass production expected by the end of 2025. The facility will have an annual production capacity of around 40GWh, exclusively supplying batteries to Honda's North American operations.
Honda Motor Co. reported a consolidated operating profit of 453.4 billion yen for the first half of FY23, marking an increase of 11.2 billion yen year-over-year. Despite challenges like decreased auto production and rising raw material costs, revenue climbed to 8,085.3 billion yen, a 15.7% increase. However, profit attributable to owners fell by 50.6 billion yen to 338.5 billion yen. The company revised its full-year operating profit forecast upwards by 40 billion yen to 870 billion yen, with expectations for continued motorcycle sales growth in Asia.
Honda and LG Energy Solution have announced a new joint venture to build a battery module plant in Fayette County, Ohio, with an investment of $3.5 billion and the potential to create 2,200 jobs. The facility will begin construction in early 2023 and aims for mass production of lithium-ion batteries by the end of 2025, targeting an annual capacity of 40GWh. These batteries will support Honda's upcoming EV production in North America, set to start in 2026 based on Honda's new e:Architecture.
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Honda Motor Co. showcased its initiatives for carbon neutrality and advancements in driver-assist technology at the ITS World Congress 2022 in Los Angeles, held from September 18-22. The company aims for 'zero traffic collision fatalities' with innovations like Honda SENSING 360 and Drive Data Service to reduce collision risks. Additionally, Honda is promoting carbon neutrality through mobile power solutions and fuel cell systems. The company sets ambitious goals to cut collision fatalities in half by 2030 and achieve full carbon neutrality by 2050.
Honda Motor Co., Ltd. reported its consolidated financial summary for the fiscal first quarter ending June 30, 2022, with an operating profit of 222.2 billion yen, a year-on-year decrease of 20.9 billion yen. Consolidated profit attributable to owners of the parent was 149.2 billion yen, down by 73.2 billion yen, largely impacted by decreased equity method profits in China. The company revised its operating profit forecast for FY23 upwards to 830 billion yen, while maintaining the profit forecast at 710 billion yen. Honda plans to acquire up to 100 billion yen in shares to enhance capital structure.
Kyndryl (NYSE: KD), the largest IT infrastructure services provider, announced a multi-year agreement with American Honda Motor Company (NYSE: HMC) to support its infrastructure transformation in the U.S. This partnership aims to enhance AHM's efficiency, enabling innovation across manufacturing, research, finance, and sales operations. Kyndryl will integrate on-premises and cloud solutions to streamline IT operations, ultimately modernizing Honda's infrastructure. The collaboration is positioned to improve customer experiences and support Honda's future electrification strategy.
Honda Motor Co., Ltd. (HMC) has submitted its annual report on Form 20-F for the fiscal year ended March 31, 2022, to the Securities and Exchange Commission. This comprehensive document provides vital financial data and business performance insights for investors. Key highlights, including earnings, revenue, and EPS metrics, are detailed in the report. The report is accessible through the SEC and Honda's official investor relations websites for stakeholder review.
Honda Motor Co. reported a consolidated operating profit of 871.2 billion yen for FY22, up 211.0 billion yen year-over-year, despite challenges like COVID-19 and semiconductor shortages. The profit attributable to owners reached 707.0 billion yen, an increase of 49.6 billion yen. For FY23, Honda projects a decrease in operating profit to 810 billion yen but expects a slight rise in profit attributable to owners to 710 billion yen. The year-end dividend is set at 120 yen per share, reflecting a 10 yen increase from FY22.
General Motors (NYSE: GM) and Honda are expanding their collaboration to co-develop affordable electric vehicles (EVs) built on a new global architecture using Ultium battery technology. Set to launch in 2027, these EVs aim to tap into the lucrative compact crossover market, which boasts annual sales of over 13 million units. The partnership will also explore advancements in battery technology. Both companies are committed to carbon neutrality, with GM aiming for 2040 and Honda for 2050. They have previously collaborated since 2013 on various projects, enhancing their technological synergies.