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Germany’s Federal Office for Economic Affairs and Export Control has opened a formal investigation about the alleged illegal anti-union conduct at the Mercedes-Benz plant in Vance, Alabama. The German Federal Office for Economic Affairs and Export Control was responding to UAW filed charges against Mercedes-Benz Group AG in early April for violating Germany’s new law on global supply chain practices. The powerful German automotive trade union IG Metall has thus far not publicly commented.*
“Mercedes-Benz’s aggressive anti-union campaign against U.S. autoworkers in Alabama is a clear human rights violation under the German Act on Corporate Due Diligence Obligations in Supply Chains. Mercedes-Benz could face billions in penalties, including significant fines and bans on government contracts,” the UAW said today. Continue reading
EVs – Honda to Invest ~$65 Billion Through 2030
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Honda Motor company Global CEO Toshihiro Mibe said today that it will invest ¥10 Trillion (~$65 billion) through 2030 on its electrification strategy as part of a vast reorganization or re-prioritization of its corporate strategy. Through the establishment of a vertically-integrated EV value chain with a central focus on batteries, as of 2030, Honda will reduce the cost of the battery to be procured in North America by more than 20% compared to the cost of current batteries. Honda promised it will establish a competitive business structure with an aim to reduce overall production cost by approximately 35%. Honda already has secured enough batteries for the planned production of approximately 2 million EVs per year. (AutoInformed.com on: Honda and IBM MoU on Software-Defined Vehicles)**
“Honda has not changed its belief that EVs are the most effective solution in the area of small mobility products such as motorcycles and automobiles, and Honda’s electrification target to make EVs and FCEVs represent 100% of its global vehicle sales by 2040 remains unchanged. Honda must look ahead to the period of EV popularization and build a strong EV brand and a strong EV business foundation from a medium- to long-term perspective,” Honda said in a briefing. Honda is targeting to a return on sales (ROS) of 5% for its EV business as of 2030 to further increase its profits to make its BEV business self-sustaining. Continue reading →