Honda Motor Co, Japan's second-biggest automaker, and Dongfeng Motor Corp (
The new equally split venture will be called Dongfeng Honda Automobile (Wuhan) Co, Honda said in a statement. The two companies will invest a total US$44 million to upgrade an existing production plant in Wuhan, with CR-V output starting there in the first half of next year, the Japanese automaker said.
Honda, Toyota Motor Corp and other overseas automakers are expanding production capacity in China, the world's fastest- growing auto market, where sales are forecast to triple to 5.8 million vehicles buy 2010, according to McKinsey & Co.
"Honda's been able to release more models while not spending too much," said Masayuki Kubota, who helps manage the equivalent of US$8.5 billion at Daiwa SB Investment Ltd. "It's important to lead the market and, in this case, offering a sport-utility vehicle ahead of the competition is good."
The venture is capitalized at US$28 million and will hire an initial 600 workers. The partners will build new welding and final quality control facilities as well as improving existing assembly lines and paint shops, Honda said.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
SK Hynix Inc warned of increased volatility in the second half of this year despite resilient demand for artificial intelligence (AI) memory chips from big tech providers, reflecting the uncertainty surrounding US tariffs. The company reported a better-than-projected 158 percent jump in March-quarter operating income, propelled in part by stockpiling ahead of US President Donald Trump’s tariffs. SK Hynix stuck with a forecast for a doubling in demand for the high-bandwidth memory (HBM) essential to Nvidia Corp’s AI accelerators, which in turn drive giant data centers built by the likes of Microsoft Corp and Amazon.com Inc. That SK Hynix is maintaining its
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