Latest news with #DongfengHondaEngineCompany
Reuters
3 days ago
- Automotive
- Reuters
China's Dongfeng Motor puts its 50% stake in Dongfeng Honda Engine up for sale
BEIJING, Aug 18 (Reuters) - China's Dongfeng Motor ( opens new tab has put its 50% stake in Dongfeng Honda Engine Company up for sale, according to a stock exchange filing on the Guangdong United Assets and Equity Exchange on Monday. A reserve price has yet to be set. The company's assets were valued at 5.4 billion yuan ($752.15 million) last year, while its debts totaled 3.3 billion yuan, according to audited results included in the filing. It reported a loss of 227.8 million yuan in 2024. The listing deadline is Sept. 12 ($1 = 7.1794 Chinese yuan renminbi)
Yahoo
17-03-2025
- Automotive
- Yahoo
Honda to cut engine production capacity in China
Honda Motor Company confirmed it plans to cut its engine production capacity in China, as it grapples with rising overcapacity due to intensifying competition from local manufacturers and falling demand for internal combustion engine (ICE) vehicles in the country. The Japanese automaker said it will close one of the two engine production lines at its Dongfeng Honda Engine Company joint venture in Guangzhou in southern China at the end of March, as it shifts its focus to producing battery electric vehicles (BEVs) for the local market and for export. Engine production capacity at the plant will be halved to 260,000 units per year, from 520,000 at present. A company official confirmed that the capacity cut would be equivalent to around 30% of the automaker's gasoline-powered vehicle sales in the country. Honda reported a 31% drop in vehicle sales in China in 2024 to a ten-year-low of 852,000 units. The company carried out significant restructuring in the country last year, with operations at three plants in Guangzhou and Wuhan either shut down or suspended. "Honda to cut engine production capacity in China" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
