TOKYO—Japan’s Honda Motor Co. raised the outlook for its full-year operating profit on Wednesday thanks to weaker yen, but warned against over-optimism as it saw the chips shortage continuing and was concerned about an economic slowdown. The mixed view from Honda reflected sentiment held widely among Japanese carmakers that although demand is strong and recovery…
Chinese Rocket Debris to Soon Fall in Uncontrolled Re-Entry; Sen. Joe Manchin Changes Course on BBB | NTD Good Morning
Remnants of a massive Chinese rocket are expected to streak through the atmosphere this weekend in an uncontrolled re-entry. Experts aren’t sure how much of the rocket will survive or where it’s expected to crash land. Democratic Senator Joe Manchin changed course on Wednesday. He says he has reached an agreement on an alternate version…
Samsung Electronics Co. Investing $360 Billion to Build Chips, Boost Biotech Business
May 24, 2022
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Samsung Electronics Co. will spend 450 trillion won (about $360 billion) over the next several years until 2026 to boost its businesses, from semiconductor chips to pharmaceutical drugs. The investment is expected to drive long-term growth in strategic sectors like the chip industry. Samsung expects investments in the biopharmaceutical sector will help make it as…
Honda to Slash Production by 50 Percent at Domestic Plant in Early May
TOKYO—Honda Motor Co. is planning to cut production by about 50 percent on two lines of one of its domestic factories in early May due to chip shortages and COVID-19 lockdowns, the company said on Thursday. The factory in the city of Suzuka will also slash its production by half for the month of April,…
War in Ukraine Putting European Carmakers in a Tight Spot
March 8, 2022
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Auto Production ShortageBusiness & EconomyEuropeGlobal supply chain disruptionMarketsRussia Ukraine invasionRussia-Ukraine WarSemiconductor ShortageWorld
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Russia’s invasion of Ukraine has further disrupted global supply chains with automakers facing challenges like shortages of components and rising material costs, leading to an overall decline in availability of cars in international markets. European carmakers Mercedes-Benz and Audi have announced plans to scale down production at their plants due to supply disruption of auto…
Toyota Cutting Down on Vehicle Production Due to Semiconductor Shortages
January 19, 2022
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Toyota will manufacture 150,000 fewer cars in February, the company announced Tuesday, with the latest cut in numbers resulting in the automaker falling short of the total 9 million vehicles initially predicted for the year. A worldwide shortage of semiconductor chips has led to a series of cuts in production volumes over past months that…
Ford Teams Up With Chip Giant GlobalFoundries to Boost US Semiconductor Supply
November 18, 2021
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Ford Motor Co. and U.S.-based chip maker GlobalFoundries have announced a strategic deal that will see the two companies join forces on seeking to boost semiconductor manufacturing and technology development within the United States. The two companies said in a joint release that their “strategic collaboration,” based on a non-binding agreement that does not involve cross-ownership…
Chip Shortages and Supply Chain Woes Will Last Through 2022, Business Figures Say
A chip shortage that is disrupting auto production and the technology industry is expected to continue until the end of 2022, according to ARM Holdings, a leading semiconductor designer based in Cambridge, England. Industries hit the most due to shortages include consumer electronics, switch consoles, and especially, the automobile sector. Based on one estimate, manufacturers…
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