Autos
BusinessThe Canadian PressHonda expected to announce Ontario EV battery plant, part of a $15B investment
TORONTO — Prime Minister Justin Trudeau, Ontario Premier Doug Ford and Honda executives are expected to announce today that the Japanese automaker is building an electric vehicle battery plant in Alliston, Ont., part of a $15-billion investment. Senior sources with information on the project have told The Canadian Press that Honda is also retooling its assembly plant in Alliston to produce fully electric vehicles. The $15-billion project includes the retooled plant, an electric vehicle battery p
BusinessReutersChina's largest auto show showcases all-electric future, local brands dominate
China's largest auto show opened in Beijing on Thursday with the biggest names showing off their latest electric vehicles (EVs), underlining how the world's largest auto market is already in an all-electric state of mind, and isn't looking back. Automakers are set to unveil 117 new models versus 93 at last year's show in Shanghai，while overall 278 new energy vehicles (NEVs) will go on display, seven more than last year, organisers said. The show, which runs through early next month, comes as NEV sales hit a milestone in early April, accounting for over 50% of cars sold in China, auto association data showed.
BusinessReutersHyundai Motor's Q1 profit drops 2.4%, hit by weak domestic sales
SEOUL (Reuters) -South Korean automaker Hyundai Motor Co's first-quarter profit fell 2.4%, hit by a tumble in domestic sales, and it warned of a challenging business outlook due to rising competition and uncertain global economic conditions. Hyundai's cautious outlook and weak performance reported on Thursday contrast with more bullish forecasts from its U.S. rivals such as General Motors and Ford Motor Co who this week reported strong profit growth thanks to stable pricing and demand for gasoline-engine vehicles. Hyundai said domestic sales were also impacted by temporary suspension of production at its Asan plant, which is being revamped for production of electric vehicles (EVs).
