Honda Motor Co (HMC) Stock

Honda is beginning its next phase of manufacturing in Ohio. The company intends to set up six large "giga presses," which were popularized by Tesla, along with a new system for making battery cases for its future electric vehicles.

This week, American Honda announced a significant recall due to issues with the engine.

On Wednesday, Honda Motor announced that it will increase its investments in three auto plants in Ohio by $300 million. This will allow the company to produce electric vehicles, hybrids, and gas-powered cars on the same assembly line.

Honda is set to recall 294,612 cars in the US due to a problem that could lead to engine stalling or a decrease in power, according to the National Highway Traffic Safety Administration's announcement on Wednesday.

Honda is recalling 294,612 cars in the U.S. because there are worries that the engines might stop working or lose power due to a software problem in the fuel injection control unit, according to the National Highway Traffic Safety Administration on Wednesday.

According to the Nikkei newspaper, Honda Motor from Japan intends to introduce a compact electric vehicle in North America that will cost less than $30,000 by 2026. This move is part of their effort to compete in the growing market for battery-powered cars.

HMC's auto financing division is facing a fine of $12.8 million for supposedly providing incorrect credit information that impacts hundreds of thousands of customers.

On Monday, the National Highway Traffic Safety Administration announced that it is investigating around 295,125 Honda vehicles in the U.S. This is due to reports of the automatic emergency braking system activating unexpectedly, which can cause the vehicle to slow down quickly and raise the chance of an accident.

On Friday, the U.S. Consumer Financial Protection Bureau instructed Honda's financing division in the U.S. to pay $12.8 million. This penalty was due to the company providing incorrect information that impacted the credit reports of 300,000 Honda and Acura vehicle owners.