Ultime notizie per Honda Motor Co (NYSE:HMC) Azioni

Honda Motor Co

Incorporated in 1948, Honda Motor was originally a motorcycle manufacturer. Today, the firm makes automobiles, motorcycles, and power products such as boat engines, generators, and lawnmowers. Including joint ventures, Honda sold 22.9 million light vehicles and motorcycles in fiscal 2024 (4.1 million of which were autos), and consolidated sales were JPY 20.4 trillion. Automobiles constitute 66% of revenue and motorcycles 16%, with the rest split between power products and financial services. Honda also makes robots and private jets.

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Honda Motor Co's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) short percent of float has fallen 10.0% since its last report. The company recently reported that it has 1.34 million shares sold short, which is 0.09% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.14 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Honda Motor Co Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729020618_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Honda Motor Co has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Honda Motor Co's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Honda Motor Co's peer group average for short interest as a percentage of float is 8.30%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Peering Into Honda Motor Co's Recent Short Interest

<a href="https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/Honda-opens-first-dedicated-EV-plant-in-China">https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/Honda-opens-first-dedicated-EV-plant-in-China</a>
 GUANGZHOU -- Honda Motor officially opened its first-ever dedicated new energy vehicle plant in Wuhan, Hubei province in China on Friday, bolstering EV production amid plans to make all new vehicles sold in the country electric by 2035.
The plant will be operated by Dongfeng Honda, a joint venture between the Japanese automaker and China's state-owned Dongfeng Motor. Roughly 4 billion yuan ($566 million) was invested in the facility, which is expected to have an annual production capacity of about 120,000 vehicles and employ around 800 people. It will begin production with the Lingxi L electric vehicle, which was released in late September.

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'Honda Opens First Dedicated EV Plant In China; Wuhan Facility Reduces Warehouse Personnel Through High Degree Of Automation' - Nikkei Asia

Japanese automaker Honda Motor Company, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) shares are trading lower premarket on Wednesday.&nbsp;A National Highway Traffic Safety Administration (<a target="_blank" href="https://static.nhtsa.gov/odi/rcl/2024/RCLRPT-24V744-4093.PDF" rel="noreferrer noopener">NHTSA</a>) report disclosed that the company recalled around 1.7 million vehicles.
The company said in a filing with NHTSA that the reason for the recall was a defect in the manufacturing of the steering gearbox worm wheel.
It can swell during operation, which diminishes the grease film thickness between the worm wheel and the worm gear.
Furthermore, the worm gear&#8217;s spring preload was set too high, leading to an increased sliding force between the components.
Consequently, the combination of reduced grease film thickness and heightened sliding force results in increased friction between the worm wheel and the worm gear. This increased friction can increase steering effort and difficulty, raising the risk of a crash or injury.
The recall includes several major models like the Honda Civic 4D, Honda CR-V, and Honda CR-V Fuel Cell Electric Vehicle, which span between 2022-2025.
In February 2024, Honda recalled 750,114 vehicles in the U.S. due to airbag <a target="_blank" href="https://www.benzinga.com/markets/equities/24/02/36960708/whats-going-on-with-honda-motor-shares-after-issuing-massive-recall" rel="noreferrer noopener">concerns, with no reported injuries</a>.
Apart from this, last year, the company recalled 100,000&nbsp;hybrid vehicles&nbsp;in <a target="_blank" href="https://www.benzinga.com/news/23/12/36321342/honda-recalls-over-100k-hybrids-owing-to-fire-risks" rel="noreferrer noopener">the U.S., citing fire risks</a>.
Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Kensho Smart Mobility ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAIL#NYSE">HAIL</a>).
Price Action: HMC shares are down 1.72% at $31.44 premarket at the last check Wednesday.
Photo via Shutterstock
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Honda Recalls 1.7M Vehicles Over Steering Gearbox Defect

Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is having its Robotaxi Day this week. The &lsquo;We, Robot&rsquo; event will be held on October 10th&nbsp;in Hollywood as Tesla booked the massive&nbsp;Warner Bros. Discovery Inc. Studios to unveil its latest model. Considering the impressive venue and the fact&nbsp;that Tesla had delayed this&nbsp;event in order to make some important changes, expectations are high and there are many speculations of what the EV king plans to unveil, the day promises to be &quot;one&nbsp;for the history books&quot;.
Optimizing the charging process.&nbsp;
Yet, the week got kicked off by Nissan Motor Co Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>)&nbsp;deciding to join Bayerische Motoren Werke Aktiengesellschaft (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bmwyy#OTC">BMWYY</a>), Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>), and Honda Motor Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>), or more precisely the trio&rsquo;s EV integration joint venture.&nbsp;Through its investment, Nissan revealed it will become an equal 25% investor&nbsp;in ChargeScape. BMW and Honda had presented ChargeScape&rsquo;s software that optimizes charging. Through ChargeScape, BMW, Honda, Ford and now Nissan, will provide bidirectional charging, allowing EVs to send power back to the grid when needed, while optimizing the charging process by coordinating with real-time grid demands. Also, BMW, Ford, Honda and Nissan will be providing financial incentives to EV owners to reduce energy use during peak times.&nbsp;
Bringing more clean energy to the EV table.
Having already established a reputation for its &lsquo;made-in-the-USA&rsquo; hybrid and clean energy solutions for light trucks, Worksport Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>) is preparing for a market release of its solar-powered tonneau cover, SOLIS&nbsp;&nbsp;and the COR portable energy system. This clean energy power duo that promises off-grid power on the go has the potential to propel Worksport&rsquo;s mid to long-term revenues. Worksport already has an ongoing collaboration with Hyundai who secured access to these groundbreaking accessories. Also, Worksport will be releasing one of the most in-demand tonneau cover models, AL4 premium tonneau Cover, in the fourth quarter, with innovative four-fold design that offers enhanced functionality and ease of the use. By launching three new product lines, Worksport is aiming to strengthen its positioning and expand market reach. In the fourth quarter, Worksport will also be implementing cost-saving measures to&nbsp;enhance margins and&nbsp;lower operational overhead&nbsp;without compromising growth. With these key strategic advances that will undoubtedly accelerate revenue growth and boost margings, Worksport is aiming for&nbsp;cash flow positivity un 2025.&nbsp;
While Tesla still holds the EV crown, long gone are the days it had the EV throne to itself. Besides already sharing the crown with BYD Company Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) on some fronts, both traditional automakers and newcomers are also shaping the EV landscape that is in the making, such as Worksport whose SOLIS and COR off-grid clean power duo promises to revolutionize the pickup experience altogether.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

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The EV Evolution Goes On With New Developments

Nissan has entered into an agreement to invest in ChargeScape, a joint venture equally owned by BMW, Ford and Honda focused on electric vehicle-grid integration. Once the transaction is complete, Nissan will become an equal 25% investor in ChargeScape and will roll out ChargeScape's services to its EV drivers across the U.S. and Canada.
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Nissan Has Entered Into An Agreement To Invest To Become An Equal 25% Investor In Chargescape, A JV Equally Owned By BMW, Ford And Honda Focused On Electric Vehicle-Grid Integration

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Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) is trying to revitalize the sagging EV demand by addressing range anxiety or more precisely, by providing&nbsp;easier&nbsp;access to charging. Specifically, Ford offered free chargers by the end of the year in hopes to boost EV sales and leases.
<h3>Ford&rsquo;s Attempt To Revive EV Demand</h3>
As of October 1st, all those who buy or lease a Ford Mustang Mach-E, F-150 Lightning pickup truck or E-Transit Cargo van&nbsp;receive the benefit of a free charger as well as of its installation. After its EV roadtrips across Europe and western U.S., Ford came to a realization that by focusing on the charging infrastructure on the road, automakers neglected that homes are the most reliable and consistent charging station for EV owners.&nbsp;
Additional charging help is also on the way.
This month, Worksport Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>), a well-established innovator and manufacturer of &ldquo;made-in-the-USA&rdquo; pickup accessories and off-grid power solutions, initiated the Alpha launch of its clean power duo, the solar-powered tonneau cover SOLIS and COR mobile battery power generator. Also in September, Worksport announced it conducted successful lab test results of its COR portable energy system as a range extender for Tesla EVs, including the Model 3 and the Cybertruck.&nbsp;&nbsp;
Moreover, Worksport also just revealed it is&nbsp;progressing towards&nbsp;gaining the&nbsp;ISO 9000&nbsp;certification at its state-of-the-art West Seneca, NY factory anticipated&nbsp;by early-mid 2025.
<h3>Worksport&rsquo;s ISO 9000 Certification Update</h3>
With the ISO 9000 certification, Worksport would pave the way for OEM relationships, which means the possibility of indirect and direct sales to global car makers that include EV pioneers like Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) and Rivian Automotive (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rivn#NASDAQ">RIVN</a>), as well as traditional automakers like Ford, General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>), Hyundai Motor Company (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>), Honda Motor Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>), Stellantis N.V. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>), Nissan Motor Co Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>), and Toyota Motor Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>). While there are no guarantees, the ISO 9000 certification is a prerequisite for becoming a vendor and supply partner of the industry&rsquo;s greatest names like Toyota, GM, Ford, Toyota and others. For Worksport, this would be a major strategic milestone in terms of both quality and operational excellence. Considering that only less than 7% of the tonneau cover industry&nbsp;holds this&nbsp;certification, it would position Worksport as a leading manufacturer, especially with its patented solar tonneau covers.&nbsp;
No matter what, the EV revolution is happening.
While these initiatives and novelties won&rsquo;t fix the EV slowdown nor Ford&rsquo;s $5 billion loss from its unprofitable EV unit that is expected this year, it does show that despite challenges, the EV evolution continues.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

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Shares of US-listed Japanese stocks are trading lower after the Liberal Democratic Party of Japan elected Shigeru Ishiba as its leader, who will take office as Prime Minister.

Tropical Storm Helene is forecasted to turn <a href="https://www.benzinga.com/markets/equities/24/08/40259269/storm-debby-headed-for-nyc-highly-populated-areas-as-catastrophic-flooding-persists">into a hurricane</a> as it makes landfall over Florida on Thursday.
The storm was located about 60 miles northeast of Cozumel, Mexico, Wednesday morning, moving northwest at 9 mph with maximum sustained winds of 70 mph, according to the National Weather Service (NWS).
The storm is expected to strengthen into a hurricane as it passes over the Gulf of Mexico&#8217;s eastern coast later Wednesday and into Thursday and reaches the Big Bend of Florida late Thursday.
The NWS has already issued a tropical storm warning for all of the Florida Keys, the state&#8217;s west coast from Flamingo to Anclote River, including Tampa Bay, and the Florida east coast from Flamingo northward to Altamaha Sound, Georgia. 
Read Also: <a href="https://www.benzinga.com/markets/equities/24/09/40982087/shell-braces-for-tropical-storm-35-prepares-major-gulf-of-mexico-oil-fields-for-shut-down">Shell Braces For Tropical Storm 35: Prepares Major Gulf Of Mexico Oil Fields For Shut Down</a>
Helene is forecasted to produce 5 to 10 inches of rain, with isolated totals of 15 inches over the southeastern U.S. This will likely result in considerable urban and flash flooding and significant river flooding. It may also cause landslides in steep terrain areas in the southern Appalachians.
Helene is also expected to bring 4 to 8 inches of rain to Cuba, the Cayman Islands and the northern Yucatan Peninsula before reaching the U.S.
Price Action: The approaching storm has impacted stocks of generator producers, retailers, and utility companies with a presence or a subsidiary in Florida.
Generators
<ul>
<li>Generac Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) slipped 0.45% to $150.16</li>
<li>Cummins Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) declined 0.55% to $321.78</li>
<li>Honda Motor Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) rose 0.27% to $32.83</li>
</ul>
Retailers
<ul>
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) gained 0.56% to $81.12</li>
<li>Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) slipped 0.4% to $155.56</li>
<li>The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) fell 0.67% to $397.99</li>
</ul>
Utilities 
<ul>
<li>Emera Incorporated (TSX:<a class="ticker" href="https://www.benzinga.com/stock/EMA#TSX">EMA</a>) gained 0.55% to $52.83</li>
<li>Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) slipped 0.12% to $115.85</li>
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Shares of auto-related stocks are trading higher following the Fed's policy decision to cut rates by 50 basis points, which could stimulate spending and enhance credit affordability.

Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) shares are trading higher on Wednesday. Ford, Bayerische Motoren Werke AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) and, Honda Motor Company, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) launched operations for the joint venture, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40917799/bmw-ford-and-honda-begin-operations-of-vehicle-grid-integration-joint-venture-chargescape-name-jos" rel="noreferrer noopener">ChargeScape, that was announced last year</a>.
ChargeScape, the vehicle-grid integration joint venture, is a software platform that connects electric vehicles (EVs) to the power grid, helping to stabilize the grid and reduce charging costs for drivers.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40906726/us-port-strike-in-october-could-lead-to-major-supply-chain-disruptions-says-container-trade-expert" rel="noreferrer noopener">US Port Strike In October Could Lead To Major Supply-Chain Disruptions, Says Container Trade Expert</a>
The companies disclosed the appointment of Joseph Vellone as ChargeScape&#8217;s first CEO and Kalidindi Raju as its Chief Technology Officer (CTO).
Vellone said, &#8220;The U.S. has set ambitious targets for renewable energy deployment and EV adoption, and ChargeScape is here to bridge that gap between supply and demand of electricity.&#8221;&nbsp;
&#8220;We want to transform EVs from a liability into an asset for the power grid and help deliver a clean transportation future for our country.&#8221;
Raju said, &#8220;Although the vehicle-grid integration market is expected to be highly competitive, our partnerships with the world&#8217;s largest automakers gives us a significant edge. With direct access to the vehicles, we enable utilities to optimize EV charging securely and reliably.&#8221;
ChargeScape&#8217;s technology wirelessly connects to electric vehicles and collaborates with utilities to manage energy flow based on real-time grid conditions.
EV drivers can be financially rewarded for their flexibility, while ensuring their vehicles are charged by the specified time.
This month, Ford sold 8,944 electric vehicles in August in the U.S., marking a jump of 29% from the<a target="_blank" href="https://www.benzinga.com/news/24/09/40745466/fords-august-ev-sales-surge-29-driven-by-cybertruck-rival-f-150-lightning-despite-its-slowing-future" rel="noreferrer noopener"> corresponding month last year</a>.
This week, the company said that it is looking to start production of a high-performance race car variant of the&nbsp;Mustang&nbsp;for street <a target="_blank" href="https://www.benzinga.com/news/24/09/40895791/ford-to-roll-out-limited-edition-street-legal-race-car-variant-of-mustang-as-early-as-this-year" rel="noreferrer noopener">use as early as this year</a>.
Investors can gain exposure to the stock via&nbsp;First Trust Nasdaq Transportation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</a>) and&nbsp;Invesco Exchange-Traded Fund Trust II Invesco S&amp;P Ultra Dividend Revenue ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDIV#NYSE">RDIV</a>).
Price Action: F shares are trading higher by 1.01% at $11.01 at the last check Wednesday.
Image via Shutterstock
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FTXR

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ChargeScape Powers Up: Ford, BMW, Honda Launch Vehicle-Grid Joint Venture

BMW, Ford And Honda Announce ChargeScape Is Fully Operational

New Tech Firm Formed by Automakers to Help Manage Flow of Data, Energy Between EVs and Power Grid
NEW YORK, Sept. 18, 2024 /PRNewswire/ --&nbsp;BMW, Ford and Honda have begun operations of the new joint venture that they <a href="https://www.prnewswire.com/news-releases/bmw-ford-and-honda-agree-to-create-chargescape-a-new-company-focused-on-optimizing-electric-vehicle-grid-services-301924860.html">announced</a> last year and have appointed the first CEO and CTO. ChargeScape is a software platform that integrates electric vehicles (EVs) into the power grid, shoring up grid stability while saving drivers money on their charging.

BMW, Ford and Honda Begin Operations Of Vehicle-Grid Integration Joint Venture ChargeScape; Name Joseph Vellone CEO

On Thursday, General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) and Hyundai Motor Company (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) announced that they signed a memorandum to&nbsp;explore joint product development, manufacturing, and clean energy technologies.&nbsp;Together, they will try to find ways to leverage their scale and complementary strengths to lower costs and bring a wider range of vehicles and technologies to customers faster.&nbsp;Yet, this agreement won&rsquo;t be limited ot EVs, as it will also explore hydrogen-powered and ICE vehicles, including both passenger and commercial vehicles. With combined expertise and innovative technologies, Hyundai and GM are hoping to enhance their competitiveness in key markets and vehicle segments.
<h3>GM And EVgo Partnership Also Gained A&nbsp;New Chapter</h3>
In addition, GM also disclosed in a separate note that it is expanding its partnership with&nbsp;EVgo Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/evgo#NASDAQ">EVGO</a>). As they continue to expand their charging network, EVgo and GM plan to install 400 fast charging stalls at key metropolitan locations across the US. GM and EVgo plan to install 2,850 DC fast charging stalls altogether, with funds redirected to enhance premium charging experiences at key sites.
Hyundai has an eye for emerging technologies. Back in 2022, Hyundai America Technical Center Inc entered into a formal agreement with a maker of clean energy-powered pickup accessories, Worksport Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>). Hyundai secured prototypes of a solar-powered tonneau cover SOLIS and a&nbsp;modified version of the COR portable energy storage system that Worksport made,&nbsp;modified for the bed geometry of the Hyundai Santa Cruz Pickup Truck. Worksport is expected to launch the alpha release of this groundbreaking duo this month. Earlier this month, Worksport also revealed it&nbsp;successfully lab&nbsp;tested the COR to extend the range of Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) EVs,&nbsp;namely its&nbsp;Model 3 and Cybertruck.&nbsp;
General Motors and Hyundai followed the footsteps of&nbsp;Nissan Motor Co. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>), Honda Motor Co. Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>), and Mitsubishi Motors Corporation.&nbsp;Back in August, Nissan, Honda and Mitsubishi announced they signed a memorandum to work together on a framework for further intelligence and electrification of automobiles. Last month, Nissan and Honda&nbsp;also announced they signed a second memorandum of understanding based on an agreement signed in March. Together, Nissan and Honda joined forces in research, development, and investment in various technologies to promote the spread and evolution of EVs&nbsp;and software-defined vehicles (SDVs).
<h3>The Automotive Market Is Not The Best Place To Be At Right Now</h3>
Even Europe&rsquo;s largest carmaker, Volkswagen (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vwagy#OTC">VWAGY</a>) is considering shutting down factories for the first time in decades. But despite an alarming situaton, Volkswagen is not abandoning its home, Germany. It&rsquo;s becoming tougher and tougher to compete and this is not only the case in Europe. Volkswagen already suffered a sharp market loss in China thanks to BYD (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) and BYD is now going for Europe. BYD has been giving headaches to many automakers across the globe, beginning with the EV pioneer, Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) with whom it stands shoulder to shoulder on the EV front, with the two being the world&rsquo;s largest EV makers. Even with aggressive discounting, Tesla does not have the right formula to challenge&nbsp;BYD. From January to August, CPCA reported that BYD held 34.6% of the Chinese NEV market, leading the way, with Tesla taking third place with a market share of 6.5%. When it comes to the retail passenger car market in August alone, including both traditional internal combustion engine vehicles, BYD led with a market share of 19.9% while Tesla ranked 9th with a market share of 3.3%, being surpassed by joint&nbsp;ventures of Volkswagen and others.&nbsp;
<h3>A Future Built On Partnerships</h3>
As it continues to undergo its biggest transformation in a century, the automotive landscape is messy, to say the least. The electric revolution is underway but automakers are having a tough time to evolve. Only time will show who will make the cut in the new EV era and by the looks of it, no one is powerful enough to go at it alone.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Small Cap

EVGO

VWAGY

GM And Hyundai Join Forces To Boost Competitiveness And Improve Efficiency

<a href="https://asia.nikkei.com/Business/Automobiles/Honda-scales-back-factory-workforce-at-2nd-China-joint-venture'">https://asia.nikkei.com/Business/Automobiles/Honda-scales-back-factory-workforce-at-2nd-China-joint-venture</a>
&nbsp;
Honda Motor&nbsp;will reduce staffing at its Chinese joint venture with Dongfeng Motor Group, Nikkei learned Monday, the Japanese automaker's second joint venture&nbsp;in China to undergo job cuts as the country's consumers shift&nbsp;away from gas engine cars.
Dongfeng Honda Automobile in late August&nbsp;began seeking volunteers for early retirement. The recruitment drive ended this month.
 &nbsp;

Management

"Honda Scales Back Factory Workforce At 2nd China Joint Venture; Japan Automaker Takes Voluntary Retirements At Dongfeng Honda As Sales Slump" - Nikkei Asia

With the eagerly anticipated Cybertruck, Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) did more than just enter a lucrative segment that Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) used to dominate when it comes to the internal-combustion engine version of the pickup universe. But what happened with the Cybertruck is that the word &lsquo;truck&rsquo; just isn&rsquo;t as loud as &ldquo;cyber&rdquo;, representing Tesla&rsquo;s new reach with EV architecture, both outer and inner as EVs are more about software compared to their hardware ICE counterparts. Simply put, the Cybertruck is unlike anything else. By the looks of the second quarter, Tesla pulled out a major win in the electric pickup segment when it comes to popularity, but for a complete triumph, it takes more than that.
For better or worse, the Cybertruck is in its own category.&nbsp;
In a similar way like Ford did it with the Ford Ranchero and General Motors did with Chevrolet El Camino, Tesla created a segment of its own with this futuristic vehicle. Detroit automakers, including Ford and General Motors, have spent decades to refine their pickups to better suit the needs of consumers. Ford has been and still continues to be the leader of the ICE pickup universe with its F-150, yet it did not manage to replicate this success with the electric version of its best-seller with the F series being the best-selling truck in the U.S. for 47 years and the best-selling vehicle of any kind in the U.S. for 42 years. According to Edmunds.com, Ford F-150 Lightning is at fifth place of top vehicles being cross-shopped for the Cybertruck, with the other four places being taken by Tesla&rsquo;s other four models. In addition, Motor Intelligence&nbsp;reported that during the second quarter of 2024, Cybertruck was the top-selling electric truck, leaving behind Ford F-150 Lightning, Rivian Automotive (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rivn#NASDAQ">RIVN</a>) R1T, as well as General Motor-made Hummer EV and Chevy Silverado EV.
Detroit automakers&rsquo; trucks are in for a boost.&nbsp;
As it continues to aggressively expand its network that already counts more than 4,500 dealers, clean energy pickup accessory maker&nbsp;Worksport is growing its presence across the U.S. and Canada. This year, Worksport is planning to launch&nbsp;three more&nbsp;innovative products. The AL4 premium cover that whose launch is planned in the fourth quarter and will be joined by game-changing clean energy power duo: the solar-powered tonneau cover SOLIS and remote battery system COR. With the COR being entirely independent even of pickups and offering off-grid power on the go, Worksport announced the SOLIS will fit most major makes and models of trucks, including those of Ford and GM. This week, Worksport grew its market reach by announcing the release of as many as 19 new tonneau cover applications for various truck models, including those of General Motors, Ford, Toyota Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>), Nissan Motor Co Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>), and Honda Motor Co Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>).
For better or worse, Cybertruck stands alone in its uniqueness as Tesla made its own category. Now the question of duration is an entirely different story and it is a well known fact that the Cybertruck came with a new set of challenges for the EV pioneer.&nbsp;Afterall, GM and Ford pulled out several decades with the appeal of their Chevy El Camino and Ford Ranchero. While traditional automakers are struggling to evolve and adapt their businesses for the EV era, no one can question their history and legacy.
On the other hand, Tesla, as mighty as it is with its EV work that made history, still needs to pass the test of time.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

For Better Or Worse, Tesla Carved Its Own Electric Pickup Category

On Thursday, U.S. Treasury Secretary&nbsp;Janet Yellen reportedly stated that eliminating the clean energy tax credits provided by the Inflation Reduction Act (IRA) &#8220;would be a historic mistake.&#8221;
She cautioned that efforts to reverse President Joe Biden&#8217;s administration&#8217;s clean energy tax credits would increase families&#8217; costs and threaten new investments in U.S. manufacturing that are generating jobs, reported Reuters.
Yellen said the rollback could give China, which is investing in green energy industries, an advantage.
Yellen highlighted that families nationwide had already claimed $8.4 billion in energy tax credits, which will help reduce their long-term energy bills.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40687930/kamala-harriss-new-ad-campaign-focused-takes-a-dig-at-trumps-economic-policies" rel="noreferrer noopener">Kamala Harris&#8217;s New Ad Campaign &#8216;Focused&#8217; Takes A Dig At Trump&#8217;s Economic Policies</a>
She added, &#8220;Rolling them back could raise costs for working families at a moment when it&#8217;s imperative that we continue to take action to lower prices,&#8221;
&#8220;It could jeopardize the significant investments in manufacturing we&#8217;re seeing here and across the country, along with the jobs that come with them, many of which don&#8217;t require a college degree.&#8221;
Earlier, Trump proposed reallocating funds from environmental projects to infrastructure projects such as roads, bridges, and dams, dismissing what <a target="_blank" href="https://www.benzinga.com/news/24/07/39853222/trump-blasts-crazy-nancy-pelosi-vows-to-end-inflation-and-claims-kim-jong-un-misses-him-in-rnc-addre" rel="noreferrer noopener">he referred to as a &#8220;Green New Scam.&#8221;</a>
This week, Donald Trump pledged to cut American energy costs by half or more, a promise that experts scrutinize due to the intricacies <a target="_blank" href="https://www.benzinga.com/news/24/09/40703958/trumps-drill-baby-drill-pledge-may-not-deliver-promised-energy-price-cuts-experts-warn" rel="noreferrer noopener">of global and regional energy markets</a>.
On the other hand, Vice President&nbsp;Kamala Harris introduced a 28% tax on long-term capital gains for households earning $1 million or more annually, softening Biden‘s previously proposed rates ahead<a target="_blank" href="https://www.benzinga.com/news/24/09/40722526/kamala-harris-reveals-28-capital-gains-tax-for-high-earners-toning-down-bidens-proposed-rates-ahead" rel="noreferrer noopener"> of the 2024 presidential election</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/politics/24/09/40731719/goldman-sachs-kamala-harris-victory-bodes-well-for-us-economy-trump-tariffs-will-drive-up-inflat" rel="noreferrer noopener">Goldman Sachs: Kamala Harris Victory Bodes Well For US Economy, Trump Tariffs Will Drive Up Inflation</a>
Yesterday,&nbsp;Bank of America Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) reportedly planned to invest $205 million in exchange for tax credits from an ethanol producer, Harvestone Low Carbon Partners,&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40729471/bank-of-america-makes-largest-ever-investments-in-carbon-capture-bets-205m-on-a-cleaner-planet-r" rel="noreferrer noopener">that captures carbon at a plant in North Dakota</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Media

XPEV

Trump Wants To End EV Tax Credits But Yellen Warns of Higher Bills, Lost Jobs, and China's Gain

Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) had its best month of 2024, with surging&nbsp;EV sales in China during August. But, competition is going strong, with BYD&nbsp;Company Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) posting new records. Chinese competitors are scaring off even legacy automakers like Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>). Ford has recently canceled its all-electric large SUV plans in the U.S., replacing it with a hybrid version due to pressure from Chinese comeptitors.
<h3>Tesla Sales In China Picked Up</h3>
According to the China Passenger Car Association, Tesla sold 86,697 EVs&nbsp;in China during August. Things are looking up according to data that the China Passenger Car Association released on Monday, showing that Tesla&rsquo;s Shanghai factory shipments rose about 3% YoY. At the moment, Tesla is making only Model Y and Model 3 in China.
<h3>BYD&nbsp;Defies The EV Slowdown With A&nbsp;New Record</h3>
Following a record-breaking August, BYD has hit the 1 milion EV sales mark. BYD is cementing its leadership with new models and tech features luring in buyers. In August alone, BYD reported that sales grew 30% YoY.&nbsp;This is the third consecutive month that&nbsp;BYD has set a new NEV sales record. Also, with August&rsquo;s performance, BYD&nbsp;marked an important milestone, having sold more than 1 million EVs this year.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Ford reflects the struggle of western automakers.
Due to its decision to cancel the large, all-electric SUV on account of profitability issues, Ford wrote off $1.9 billion. Like its western peers, Ford is struggling to make profitable EVs. Ford also delayed the launch of the successor of its F-150 Lightning electric pickup truck that planned for next year to 2027. Ford openly acknowledged it is struggling with competition from China on several levels:&nbsp;vertical integration, low-cost engineering, multi-energy advanced battery technology and digital experiences&nbsp;with which they are expanding their global presence, in addition to the price war.&nbsp;
Fortunately, there are players who raise the bar of the western front such as Worksport Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>)&nbsp;who is, among other things, a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for light trucks. Worksport just announced it&nbsp;expanded its cover lineup with 19 new models,&nbsp;including covers that are compatible with Ford, as well as pickups from General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>), Toyota Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>), Nissan Motor Co Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>), and Honda Motor Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>).
Moreover, Worksport is promising the raise the performance bar when it comes to both automotive accessories and&nbsp;electric pickups with its clean energy power whose Alpha release is scheduled for this month. The SOLIS solar-powered tonneau and COR portable battery system promise off-grid clean power on the go, undoubtedly enhancing the electric pickup experience that Ford and other automakers&nbsp;are offering.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Asia

Things Are Beginning To Look Up For Tesla But Competition In China Is Daunting

China&#8217;s electric vehicle industry, which has been thriving, may not be able to replicate the offshoring strategy that helped Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) and Honda Motor Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) achieve global success, according to an expert.
What Happened: Alicia Garcia-Herrero, a senior research fellow at the Brussels-based economic think tank Bruegel, and the chief economist for Asia-Pacific at investment bank Natixis in Hong Kong, wrote an opinion <a href="https://asia.nikkei.com/Opinion/China-s-EV-makers-can-t-follow-Japan-s-flying-geese-offshoring-strategy">piece</a> for Nikkei Asia on Tuesday. 
She pointed out that the offshoring strategy that helped Japanese automakers in the 1980s might not be as effective for China&#8217;s EV industry.
Garcia-Herrero explained that the success of China&#8217;s EV industry can be attributed to a combination of factors including industrial policy, hard work, a competitive environment, and technological transfer from foreign companies. However, she warned that the industry faces growing risks, including protectionism and a potential delay in countries&#8217; decarbonization paths.
The reduction of subsidies post-COVID and a sluggish economic recovery have shifted focus towards exports, as per Garcia-Herrero. In 2023, Chinese EV exports surged by 22%, compared to a 2.7% increase in 2019.
She noted that the offshoring strategy that helped Japanese automakers in the 1980s might not be as effective for China&#8217;s EV industry due to several reasons. Firstly, labor costs in Japan were much higher in the 1980s than they are now in China, which made offshoring production more attractive to Japanese automakers. 
Secondly, China is facing a shortage of jobs now with high youth unemployment, while Japan was in full employment with an overheated labor market. Thirdly, China&#8217;s ecosystem in terms of suppliers and trade infrastructure, coupled with many trade agreements, makes it easy for the nation to export, possibly more so than for Japan in the 1980s. 
Finally, China is facing protectionism when it comes to setting up plants in other countries, which reduces the choices of the markets where it can be located.
&#8220;China would find it cheaper and more efficient to produce overseas but geopolitical reasons push against the offshoring argument. All in all, it appears that China&#8217;s &#8220;flying geese&#8221; will fly less than the Japanese ones of the 1980s, at least for the time being,&#8221; Garcia-Herrero wrote. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/08/40466130/whats-going-on-with-lucid-group-stock-on-tuesday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Lucid Group Stock On Tuesday?</a>
Why It Matters: The Chinese EV industry has been facing a series of challenges in recent times. The European Union, China&#8217;s largest export market for EVs, recently <a href="https://www.benzinga.com/news/24/08/40484760/china-hits-back-at-eus-unfair-ev-tariffs-that-gave-relief-to-chinese-made-tesla-will-take-all-necess">imposed countervailing duties on Chinese EVs</a>, citing unfair state subsidies. This move was met with strong opposition from China, which vowed to take all necessary measures to safeguard its EV industry.
On the other hand, the European Union <a href="https://www.benzinga.com/news/24/08/40479832/elon-musks-tesla-gets-a-breather-as-eu-slashes-tariffs-on-its-china-made-evs-even-as-saic-geely-and">slashed tariffs on electric cars made</a> by Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) in China, setting them significantly lower than those imposed on other electric car manufacturers. This move could potentially reshape the electric car market in the region.
Earlier in the year, Japanese automakers Toyota and Nissan <a href="https://www.benzinga.com/news/24/04/38427099/japanese-automakers-toyota-nissan-partner-with-tencent-baidu-to-boost-ai-capabilities-in-china">partnered with Chinese tech giants</a> Tencent and Baidu to enhance their artificial intelligence capabilities in China. However, this move was overshadowed by a certification test scandal that affected <a href="https://www.benzinga.com/markets/equities/24/06/39154549/gear-shift-in-japan-toyota-other-auto-giants-reportedly-under-inspection-over-certification-scan">other Japanese automakers</a> as well.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Toyota And Honda's 1980's Success Story May Not Be Replicated By Chinese EV Giants, Says Researcher: Why The Flying Geese Won't Fly As Much This Time

BYD Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) is reportedly set to establish an electric vehicle (EV) plant in Pakistan as part of its strategy to grow its <a target="_blank" href="https://www.benzinga.com/top-stories/24/08/40338982/tesla-model-y-leads-in-china-despite-decline-byd-seagull-closing-the-gap-report" rel="noreferrer noopener">presence in the global auto market.</a>
At its brand launch on Saturday, the company will display three models it plans to sell in Pakistan, including an SUV and a sedan, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-08-15/ev-giant-byd-plans-to-build-karachi-plant-as-part-of-entry-into-pakistan?sref=TBDibEcD" rel="noreferrer noopener">reported</a> Bloomberg.
BYD plans to launch new models, including battery-electric and plug-in hybrid vehicles, to the market later.
A BYD spokesperson confirmed to Bloomberg that the company plans to enter the market with battery-electric and plug-in hybrid vehicles but declined to comment on the factory investment in Pakistan and other specifics.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40333362/teslas-elon-musk-warns-against-vilifying-oil-and-gas-industry-in-trump-interview-cautions-agains" rel="noreferrer noopener">Tesla&#8217;s Elon Musk Warns Against Vilifying Oil And Gas Industry In Trump Interview, Cautions Against Rushing With Sustainable Energy Transition: &#8216;It&#8217;s Not Like The House Is On Fire Immediately&#8217;</a>
Pakistan has seen Great Wall Motor Co., SAIC Motor Corp. and Chongqing Changan Automobile Co. penetrate the market in recent years and contest with Japanese companies, including Toyota Motor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) and Honda Motor Company, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) local units, per the report.
EV sales in Pakistan remain relatively small compared to overall auto sales. BYD has inked a pact with Pakistan&#8217;s most prominent business group, Mega Conglomerate Pvt., in an agreement that goes beyond the usual dealership model they have in most markets.
The factory will be set up near Karachi&#8217;s Port Qasim area. The plant is expected to be completed in the first half of 2026, with specific details still under discussion.
BYD plans to open showrooms in Karachi, Lahore, and Islamabad and begin sales in the fourth quarter of this year, Bloomberg added.
Photo via Shutterstock
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</ul>

BYDDF

Tesla's Chinese Rival BYD Set To Electrify Pakistan: To Open New EV Plant and Showrooms

Light vehicle sales volume set to be down 12% Y/Y in September - report

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Nio is raising prices by cutting down on discounts.  Will this help the stock price increase?

Can NIO Stock Reach $1,000 By Raising Product Prices?

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INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Honda Motor Co., Ltd. and Encourages Investors to Contact the Firm

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Honda Motor Co., Ltd. (HMC:NYSE) announced its consolidated financial results for the fiscal first quarter ended June 30, 2024

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