Honda Motor Co., Ltd. (7267.T)
- Reuters
Japanese insurers, banks to sell Honda shares worth $3.3 billion, filing shows
TOKYO (Reuters) -Japanese financial groups including Tokio Marine, Sompo and two MS&AD units will sell Honda Motor shares worth 535 billion yen ($3.3 billion) to unwind cross-shareholdings, a regulatory filing showed on Thursday. Mitsubishi UFJ and Mizuho, Japan's first- and third-largest financial groups, also plan to participate in the sale, a sign that the unwinding of cross-shareholdings is catching pace as part of Japan's corporate governance reforms. Cross-shareholding, or companies holding shares in each other, has long been seen as a way to reinforce business ties in Japan.
- Reuters
Nissan, Honda consider partnering on software, charging infrastructure, Nikkei says
TOKYO (Reuters) -Japanese automakers Nissan Motor and Honda Motor are considering using standardised automotive software and working together on electric vehicle charging, the Nikkei newspaper said on Thursday, steps that could reduce their costs. Nissan and Honda said in March that they were considering a strategic partnership on producing EV components as they seek to gain a greater foothold in the global market for battery-powered cars, which is expected to grow over the coming years. Japan's third- and second-biggest automakers were looking to jointly develop the operating system that controls cars in a bid to bring down costs, according to Nikkei, which did not say where it got the information.
- Associated Press Finance
After years-long effort, IndyCar is ready to unveil its hybrid engine system this weekend in Ohio
On the second floor of an upscale steakhouse in downtown Indianapolis, just days before their engines would be put to the test against each other in the Indianapolis 500, engineers from Chevrolet and Honda sat side-by-side and shared a toast. In a collaboration of rivals, they had worked to push the IndyCar Series into a new era. Over in the corner, sitting on a stand, was the product of their work, a hybrid unit that will fit neatly inside the existing chassis from Dallara, and works with each manufacturer's existing 2.2-liter, twin-turbocharged V-6 engines.
