Nikkei 225 Hits Record High Above 56,000 After Japan Election Boosts Market Confidence 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Honda Motor Co. Ltd. and Taiwan Semiconductor Manufacturing Co. (TSMC) announced they had signed a deal for the procurement of chips. The agreement will ensure that the Japanese automaker will have a steady supply of semiconductor parts that it needs for production.
According to Reuters, Honda Motor is struggling to fully escape from the blow it incurred due to the strained global chip and parts supply that has previously affected many automakers during the pandemic. With its collaboration with TSMC, the company hopes to fully recover and get back on track completely.
Honda Motor's chief executive officer, Toshihiro Mibe, said during the recent 2023 Honda Business Briefing they are aiming to build an alliance with chip manufacturers so it can secure a stable supply of chips for a long time. He also shared their plans for the future and provided business strategy updates.
"Concerning the ongoing shortage of semiconductors, Honda has been taking various actions to deliver products to its customers as soon as possible by implementing measures from both short-term and medium- to long-term perspectives," the Honda Motor management said in a press release. "While enhancing its risk-sensing measures, Honda has been building cooperative relationships and enhancing collaboration with semiconductor manufacturers, including the strategic collaboration with TSMC, through which Honda strives to ensure stable procurement of semiconductors."
The carmaker's chief operating officer, Shinji Aoyama, said they are expecting to see the effects of Honda's collaboration with TSMC starting from the 2025 financial year. He further mentioned that the two companies also agreed to share information about production and parts supply, especially on securing integrated circuits and other auto parts.
Meanwhile, Honda Motor revealed that one of its goals is to release a mid to large-size electric vehicle (EV) in the United States in 2025. This will be built based on the company's new "electric and electronic" architecture.
Photo by: The Ride Academy/Unsplash
