☨St Louis IX opposed paganism, hæresy \x26 debauchery
China Observer
comments
Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Honda’s Largest Layoff in China, First in 25 Years, Marks Full ‘De-Chinification’ of Japanese Autos" video.
💼 Honda's layoffs in China due to production reduction and termination of dispatch contracts, leading to financial compensation and assistance for affected employees.
00:33
Honda's layoffs attributed to reduction in production and termination of dispatch contracts.
Financial compensation and assistance provided to affected employees.
First significant staff reduction for Honda since joint venture in 1998.
📉 The economic performance in China has been the opposite of expectations, with significant decline in major indicators and a notable downturn for GAC Honda.
03:16
China's major economic indicators showed a significant decline with the real estate debt crisis worsening, numerous factories closing, and enterprises going bankrupt.
GAC Honda experienced a notable downturn, with a significant decrease in vehicle sales in the Chinese market for the third consecutive year.
🏭 Companies are losing confidence in China, leading to the relocation of investment and headquarters due to various factors such as supply chain issues and geopolitical risks.
06:23
Japanese automaker Honda rumored to be pursuing deification and reducing its dependence on the Chinese supply chain as early as August 2022.
The covid-19 outbreak and resulting lockdowns in Wuhan disrupted Honda's supply chain and production, leading to the consideration of restructuring the supply chain.
In response to geopolitical risks, Honda plans to rebuild its local supply chain and continue vehicle production in China.
🚗 Honda and LG Energy Solution are investing in electric vehicle production in North America, possibly due to US government subsidies and Japanese companies moving out of China.
09:16
Honda and LG Energy Solution are independently investing 700 million to retrofit factories for electric vehicle production in North America.
The US government will provide subsidies to electric vehicle consumers starting next year, with prerequisites for localization and domestic production.
Japanese companies moving out of China may be accelerating, possibly influencing the investment in North America.
💼 Sudden layoffs in the automotive industry causing financial pressure and uncertainty.
12:29
GAC Toyota announced layoffs in a pillar industry, leaving thousands unemployed.
Mitsubishi's decision to stop car production in China and invest in electric vehicles.
1