Honda Motor Co., Ltd. (HMC)
After hours:
- Reuters
Honda to cut car output by up to 40% in Japan on supply problems
TOKYO (Reuters) -Honda Motor Co said on Thursday it would reduce car output by up to 40% at two Japanese plants in early October because of ongoing supply chain and logistical problems. The cutback provides further evidence of problems automakers likely face in trying to increase production volumes in the second half of the financial year to the end of March to make up for a shortfall caused by a persistent shortage of chips and supply chain disruptions in the first half of the business year. Two lines at Honda's Suzuka plant in western Japan will cut back production by about 40% in early October, while its assembly plant in Saitama prefecture, north of Tokyo, will cut back production plans by about 30% for the period.
- Reuters
Factbox-The challenges automakers, and now Tesla, face with humanoid robots
Tesla's CEO Elon Musk is set to unveil its prototype humanoid robots at an event on Sept. 30, hoping to expand beyond self-driving cars that have not yet become reality despite his repeated promises. While robots are widely used for specialist tasks at factories, other companies have struggled to create commercially viable human-like robots, despite decades-long development efforts. "This market is very, very challenging market because you buy this big expensive robot, but it actually cannot do much," Heni Ben Amor, a robotics professor at Arizona State University, said.
- Reuters
UPDATE 3-Biden hops into Corvette, declares Detroit 'back' at EV-focused auto show
President Joe Biden took a victory lap on Wednesday at the Detroit auto show as he highlighted automakers' electric-vehicle push, including billions of dollars in investments in battery plants, on the back of new government support. Self-declared "car guy" Biden climbed into a silver electric Cadillac SUV and an orange Corvette, glad-handed with the industry's union workers and declared the city, the birthplace of the auto industry, was making a comeback. Detroit's auto show is the largest in North America and a key stop on Democrat Biden's stepped-up midterm election travel agenda, as he showcases new laws to fund infrastructure and give consumers grants to buy EVs.
