What the news says
The extension of the joint venture is directly related to the automotive stock group and components related to electric/green vehicle production in China. GAC Group is a major Chinese automaker with a product portfolio from traditional gasoline vehicles to electric vehicles; Honda is a renowned supplier of engine and control technology. The extension of the common investment period shows both sides commit to continuing joint product development amid the global shift to electric vehicles and China's green vehicle support policies.
07/20, 09:03 AM
Honda and GAC Group have renewed their GAC Honda Automobile joint venture, extending the partnership through 2038.
Honda and GAC Group have renewed their GAC Honda Automobile joint venture, extending the partnership through 2038.
Affected assets
FirstSquawk
07/20, 09:03 AM
Related updates
jin10 · 07/19, 10:09 PM
High impactIran claimed its naval air defense shot down a US LUCAS drone off the southern coast, citing state media photos of a damaged drone.
jin10 · 07/15, 10:00 PM
Market reactionChinese domestic futures closed mixed overnight, with PTA down over 2%, synthetic rubber up over 1%, and plastic and soybean meal up nearly 1%.