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    7267   JP3854600008

HONDA MOTOR CO., LTD.

(7267)
  Report
Delayed Japan Exchange  -  11:22 2022-11-29 pm EST
3336.00 JPY   +1.09%
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UPDATE2: Honda, LG Energy to set up $4.4 bil. EV battery venture in U.S.

08/29/2022 | 07:18am EST

Honda Motor Co. and LG Energy Solution Ltd. said Monday they will set up a joint venture in the United States to produce batteries for electric vehicles with a total investment of $4.4 billion.

The Japanese and South Korean companies plan to begin construction of the battery plant early next year and mass production by the end of 2025, they said in a press release.

All the lithium-ion batteries produced at the plant will be used to power EVs sold under Honda and Acura brands in North America, they said. The exact location of the plant has not been finalized yet.

The move comes as Honda accelerates its EV push amid increasingly strict regulations on gasoline-powered vehicles worldwide.

As the shift away from fossil fuels to reduce carbon emissions becomes a global trend, Honda has vowed to stop selling new gasoline-powered vehicles by 2040. The automaker in March also agreed with Sony Group Corp. to set up a joint venture to produce next-generation EVs.

The new plant is expected to offer stable supply of batteries to Honda in the North American market, where demand for EVs is set to rise sharply.

The state of California plans to ban sales of gasoline-powered vehicles including hybrid cars by 2035, a move that could spread to the rest of the United States and prompt an EV development race among automakers.

"Aligned with our longstanding commitment to build products close to the customer, Honda is committed to the local procurement of EV batteries which is a critical component of EVs," Honda President Toshihiro Mibe said in the press release.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
HONDA MOTOR CO., LTD. 1.06% 3336 Delayed Quote.3.78%
LG ENERGY SOLUTION, LTD. 0.89% 567000 End-of-day quote.0.00%
All news about HONDA MOTOR CO., LTD.
05:15pHonda intros battery swapping machines in Japan
AQ
06:31aHonda Motor : Production, Sales and Export Results for October, 2022
PU
01:53aJapan's Nikkei ends at one-week low on China concerns
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11/18Honda to Begin Sales of All-new ZR-V SUV in April 2023
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Analyst Recommendations on HONDA MOTOR CO., LTD.
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Financials
Sales 2023 17 144 B 124 B 124 B
Net income 2023 751 B 5 430 M 5 430 M
Net Debt 2023 3 916 B 28 301 M 28 301 M
P/E ratio 2023 7,50x
Yield 2023 3,88%
Capitalization 5 595 B 40 430 M 40 430 M
EV / Sales 2023 0,55x
EV / Sales 2024 0,51x
Nbr of Employees 204 035
Free-Float 90,7%
Chart HONDA MOTOR CO., LTD.
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Honda Motor Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends HONDA MOTOR CO., LTD.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 3 300,00 JPY
Average target price 4 018,75 JPY
Spread / Average Target 21,8%
EPS Revisions
Managers and Directors
Toshihiro Mibe President, Chief Executive Officer & Director
Kohei Takeuchi CFO, Director & Compliance Officer
Seiji Kuraishi Chairman
Kunihiko Sakai Independent Outside Director
Fumiya Kokubu Independent Outside Director
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