EU to Require 70% Local Sourcing for EV Parts, Putting Hyundai Motor Group's European Supply Chain to the Test

South Korean asset managers are avoiding local corporate bonds due to valuation losses from rising yields, which have reached 4%. Hyundai Motor Co. experienced its first full-scale strike in a decade, causing a shutdown of domestic assembly lines and a decline in its shares.

GM is expected to save $20.4B in compliance costs through 2031 due to relaxed fuel economy standards, according to the U.S. Department of Transportation. The company endorsed the change, citing alignment with market realities. Other automakers like Ford, Stellantis, Toyota, and Honda are also projected to save billions. The new rules take effect in December 2023.

Honda plans a $1.8B-$2.5B plant in Ohio by 2030 to produce 250,000 hybrid SUVs annually, aiming to compete with Toyota's 15 hybrid models. The move follows Honda's EV strategy reversal and $15.7B restructuring costs, targeting 15 new hybrid models in North America by 2030.

Honda Motor Co. (HMC.US) plans to invest ¥300-400 billion ($1.9-2.5 billion) in a new Ohio hybrid vehicle plant, starting production in 2030. The move aims to mitigate tariff risks and expand U.S. capacity, as hybrids outperform EVs in demand. Honda sold 1.41 million vehicles in the U.S. last fiscal year, with hybrids driving growth. The company has faced over $9 billion in EV-related losses.

Honda (HMC) is in talks to build a $1.8B-$2.5B hybrid vehicle plant in Ohio, its first North American factory in 20 years. Operations could start by 2030, pending state subsidy negotiations. The move aligns with Honda's strategy to capitalize on rising U.S. demand for fuel-efficient vehicles.

Honda is reportedly in final talks to build a $2.5B vehicle assembly plant in Ohio, focusing on electrified vehicles, with production potentially starting in 2030. The company declined to confirm the project, citing Nikkei's sources.