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<br /> Indian auto market is ripe with demand of small car. Taking advantage of the situation Japanese auto major <keyword id="20630" type="CITY" weightage="100" keywordseo="Honda">Honda</keyword> is planning to expand the respective portfolio here, as it works simultaneously on enhancing vehicle development capability in its operations. <br /><br /> When asked about the company's plans for <keyword id="45526" type="UNKNOWN" weightage="100" keywordseo="Small-Cars">small cars</keyword> in India, Honda President and Chief Executive Officer <keyword id="2738695" type="UNKNOWN" weightage="100" keywordseo="Takahiro-Hachigo">Takahiro Hachigo</keyword> told PTI: "At Honda, we place priority on trying to listen to the needs, request from the customers from different regions. Therefore, if the region is showing strong demand for small cars we are always seriously considering possibilities." <br /><br /> Currently, Honda sells hatchback <keyword id="487442" type="UNKNOWN" weightage="100" keywordseo="Brio">Brio</keyword> in the compact cars segment and <keyword id="8070" type="PERSON" weightage="100" keywordseo="Jazz">Jazz</keyword> in premium hatchback category in India. <br /><br />

	The company also sees prospects of growth for export of cars from the country. 
<br /><br />

	Asked about the timeframe to achieve such target, he said: "We cannot say specifically which car by when because we have not yet fixed the details, but we think those cars that are competitive in India are also going to be competitive in other countries. So we want to try to export small sized cars from India first." 
<br /><br />

	Honda's exports of auto components from India have been gradually increasing. In 2013-14, its component exports had a turnover of Rs 420 crore.
<br /><br />

	Honda globally wants to enhance its six regional operation systems and would like to see each region work on their own development, procurement, production and sales in their respective regions, he said. 
<br /><br />

	To a question regarding vision for Indian market and volume expectation by 2020, he said instead of trying to estimate the volume, Honda would rather focus on products. 
<br /><br />

	"India is a big country with a large population and I believe that motorisation will grow even more significantly. Heading towards 2020, as I said, I believe the key will be how many products we can come up with, that the Indian customers will like," he said. 
<br /><br />
<br /><br />

	(Image credits: Indiatimes)

Honda serious about its small car portfolio expansion plans in India

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>REUTERS/Toru Hanai</span></p></div><p></p></div></div></p><ul class="summary-list"><li><strong>Japanese auto giant Honda confirmed on Tuesday that it plans to shut a major manufacturing plant in the UK, but insisted that the decision is nothing to do with Brexit.</strong></li><li><strong>The company confirmed it will shut its Swindon plant, which employs around 3,500 people.</strong></li><li><strong>"This decision is not related to Brexit," Takahiro Hachigo, Honda's chief executive, said a news conference in Tokyo.</strong><span></span></li></ul><p>Japanese auto giant Honda confirmed on Tuesday that it plans to shut a major manufacturing plant in the UK, but insisted that the decision is not related to Brexit.</p><p>It had been reported on Monday evening that such a decision would be announced, and so it came to pass, with the company issuing a statement saying it will close its Swindon factory, potentially costing around 3,500 jobs.</p><p><span>"Honda of the UK Manufacturing Ltd. has today informed employees of its proposal to close its Swindon vehicle manufacturing plant in the UK in 2021, at the end of the current model's production lifecycle," <a href="https://hondanews.eu/eu/en/cars/media/pressreleases/161923/honda-announces-global-automobile-manufacturing-restructure">the company said.</a></span></p><p><span>"The plant currently produces 150,000 cars per year, and employs approximately 3,500 people." </span></p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/category/brexit-insider?r=UK">See all of Business Insider's Brexit coverage in one place</a></em></p><p>After the news was first reported on Monday evening, it was widely speculated that the decision to close the plant was a direct result of uncertainty related to Brexit, but the company categorically denied that on Tuesday.</p><p><span>"This decision is not related to Brexit," Takahiro Hachigo, Honda's chief executive, said a news conference in Tokyo, <a href="https://www.ft.com/content/77220374-3416-11e9-bd3a-8b2a211d90d5">according to the Financial Times.</a></span></p><p>Justin Tomlinson, the MP for North Swindon, where the factory is based, furthered that point of view, telling Reuters: "<span>This is not Brexit-related. It is a reflection of the global market. They are seeking to consolidate production in Japan."</span></p><p><span>Honda blamed changing conditions in the global auto market, and cited a desire to "prepare our manufacturing network for the future."</span></p><p><span>As well as announcing the Swindon closure, Honda said it will close a production facility in Turkey which employs over 1,000 people, and produces close to 40,000 cars annually.</span></p><p><span>Honda's decision to shutter its Swindon plant comes just weeks after fellow Japanese automaker, Nissan, said it will no longer manufacture its X-Trail vehicle at its Sunderland plant.</span></p><p class="tagline">Our Brexit Insider Facebook group is the best place for up-to-date news and analysis about Britain's departure from the EU, direct from Business Insider's political reporters. Join <a href="https://www.facebook.com/groups/267178180471848/">here.</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/amazon-not-paying-taxes-trump-bezos-2018-4">Amazon will pay $0 in federal taxes this year - here's how the $793 billion company gets away with it</a></h3>        <div>                    </div>    </div>

Honda confirms it will close UK plant, but insists it has nothing to do with Brexit

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Cruise</span></p><p class="caption">Cruise Automation has struggled to refine its autonomous-driving technology, according to a report from The Information.</p></div><p></p></div></div></p><ul class="summary-list"><li>The autonomous-driving startup <a href="https://www.businessinsider.com/category/cruise-automation">Cruise Automation</a>, which was acquired by <a href="https://www.businessinsider.com/category/general-motors">General Motors</a> in 2016, is facing technological issues as it seeks to launch an autonomous ride-hailing service by the end of this year, <a href="https://www.theinformation.com/articles/technical-glitches-plague-cruise-gms-19-billion-self-driving-car-unit">The Information</a>'s Amir Efrati reported on Friday.</li><li>Among the issues reportedly experienced by Cruise vehicles are near-accidents, getting stuck in the middle of a trip, taking 80% longer to complete a trip than a human driver would, and erratic braking and steering.</li><li>The computers in the vehicles also shut off completely on occasion, including at one point during a ride taken by Honda Motor CEO Takahiro Hachigo, according to The Information's report.</li><li>The vehicles are expected to be only around 5%-10% as safe as human-driven vehicles by the end of this year, according to internal data cited by The Information.</li><li><strong><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a></strong></li></ul><p>The autonomous-driving startup Cruise Automation, which was acquired by General Motors in 2016, is facing technological issues as it seeks to launch an autonomous ride-hailing service by the end of this year, <a href="https://www.theinformation.com/articles/technical-glitches-plague-cruise-gms-19-billion-self-driving-car-unit">The Information</a>'s Amir Efrati reported on Friday. The startup had reportedly once hoped to debut the service in 2018.</p><p>Among the issues reportedly experienced by Cruise vehicles are near-accidents, according to The Information; getting stuck in the middle of a trip, taking 80% longer to complete a trip than a human driver would, and erratic braking and steering.</p><p>The computers in the vehicles also shut off entirely on occasion, including at one point during a ride taken by the Honda Motor CEO Takahiro Hachigo, according to The Information's report. (Honda is one of Cruise's investors.)</p><p>Cruise declined Business Insider's request for comment.</p><p>The company's vehicles would come close to getting in a collision about once every 450 miles "several months ago," according to The Information. Cruise had reportedly set a goal of lowering that rate to once every 1,000 miles by the end of 2018.</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/uber-lyft-self-driving-taxis-may-not-help-profitability-mit-2019-5">Uber and Lyft are betting on self-driving cars to become profitable. But that may not happen, new research from MIT suggests.</a></em></p><p>And Cruise vehicles reportedly induced discomfort for passengers - by braking abruptly, for example - around 10 times every 10 miles during a recent 30,000-mile stretch of testing, which was similar to a rate of around six to 12 incidents every 10 miles last year, according to The Information.</p><p>The vehicles are expected to be only around 5% to 10% as safe as human-driven vehicles by the end of this year, according to internal data cited by The Information.</p><p>Cruise is not the only autonomous-driving company that has faced setbacks. <a href="https://www.theinformation.com/articles/waymos-big-ambitions-slowed-by-tech-trouble?jwt=eyJhbGciOiJIUzI1NiJ9.eyJzdWIiOiJsYXJhbWJsZXJzMjAxMkBhb2wuY29tIiwiZXhwIjoxNTcyNTUyNDk1LCJuIjoiR3Vlc3QiLCJzY29wZSI6WyJzaGFyZSJdfQ.MbAjNdPCPV3AsTHQ_39P_ZAULpsdEcCpaHRlMPlIlX4&amp;unlock=d3bd5815d9c26441">The Information</a> reported in August that self-driving vehicles from the Google spinoff Waymo, which launched the first commercial autonomous ride-hailing service in parts of Arizona last year, had difficulty making unprotected left turns, distinguishing between individuals in a large group, and merging into turn lanes and highway traffic, among other trouble areas.</p><p>Uber's self-driving program had to halt testing for <a href="https://www.businessinsider.com/r-uber-resuming-self-driving-car-testing-in-pennsylvania-2018-12">nine months</a> after one of its vehicles hit and killed a pedestrian in 2018, and Tesla has missed multiple deadlines set by CEO Elon Musk to send a self-driving vehicle across the country.</p><p>The research and consulting firm Navigant placed Waymo and Cruise first and second, respectively, in its <a href="https://www.navigantresearch.com/reports/navigant-research-leaderboard-automated-driving-vehicles">2019 ranking</a> of companies developing autonomous-driving technology. The firm evaluated 20 companies based on criteria like strategy and execution.</p><h2>Read The Information's full story <a href="https://www.theinformation.com/articles/technical-glitches-plague-cruise-gms-19-billion-self-driving-car-unit">here »</a></h2><ul class="read-more-links"><li>Read more:</li><li><a href="https://www.businessinsider.com/apple-may-buy-a-self-driving-car-startup-2019-6" data-read-more-link="" data-e2e-name="read-more-link">Apple is reportedly trying to buy the self-driving startup Drive.ai to help it take on rivals like Waymo and Tesla in robo-taxis</a></li><li><a href="https://www.businessinsider.com/lyft-drivers-should-become-mechanics-for-self-driving-cars-after-being-replaced-by-robo-taxis-2019-5" data-read-more-link="" data-e2e-name="read-more-link">Lyft executive suggests drivers become mechanics after they're replaced by self-driving robo-taxis</a></li><li><a href="https://www.businessinsider.com/elon-musk-claim-that-tesla-cars-will-appreciate-in-value-likely-wrong-experts-2019-4" data-read-more-link="" data-e2e-name="read-more-link">Elon Musk says Tesla's cars will defy the laws of the auto market and become more valuable over time. Experts say he's probably wrong.</a></li><li><a href="https://www.businessinsider.com/waymo-ceo-john-krafcik-explains-big-challenge-for-self-driving-cars-2019-4" data-read-more-link="" data-e2e-name="read-more-link">Waymo CEO John Krafcik explains why a parking lot is one of the most difficult environments for a self-driving car</a></li></ul>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/review-1099-iphone-xs-max-google-479-pixel-3a-xl-2019-5">I switched from the $1,099 iPhone XS Max to the $479 Pixel 3a XL - and I didn't miss much</a></h3>        <div>                    </div>    </div>

The GM-backed robo-taxi startup Cruise Automation is reportedly struggling to refine its self-driving car technology

In a bid to connect with the Indian youth, Honda launched NAVI (New Additional Value of India) in the two-wheeler segment with much fanfare at <keyword id="2855210" type="UNKNOWN" weightage="20" keywordseo="Auto-Expo-2016">Auto Expo 2016</keyword>.<br />
<br />
Navi is powered by 110cc engine and is priced at Rs 39,500 (ex-showroom price, Delhi). The delivery of Navi will start from April this year.<br />
<br />
Navi, which is a 100 per cent Honda R&amp;D India model and will be available in five colour options, is looking to refresh the feel and look of the two-wheelers.<br />
<br />
Takahiro Hachigo, President, CEO &amp; Representative Director, Honda Motor Co., Ltd., Japan, said, “India is a fast growing economy and the largest two-wheeler market in the world and our Indian operation became the largest volume contributor to Honda’s global production in 2015. Honda’s fourth two-wheeler plant in Gujarat will be ready to commence its operation soon.”<br />
<br />
Meanwhile, Honda also announced that it will make CRF1000L Africa Twin in India under the ‘Make in India’ initiative.<br />
<br />
At the Auto Expo 2016, Honda also showcased the new 2016 editions of its four current models-New CB Unicorn 160, CD 110 Dream, Dream Neo and CB Unicorn 150.<br />
<br />
The Auto Expo also saw glimpse of Honda’s future concept-Neowing.<br />
<br />
Delivering sporty, lean cruising with big bike-style cornering and a stable ride feel, this 3-wheel sport hybrid with a 4 cylinder petrol.<br />

Auto
Expo 2016: Honda looks to connect with youth, launches swanky Navi at Rs 39,
500

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Thomson Reuters</span></p><p class="caption">Russian President Putin attends a news conference after BRICS Summit in Xiamen</p></div><p></p></div></div>Facebook on Wednesday said it had found evidence that fake accounts "likely operated out of Russia" purchased thousands of ads during the US presidential election designed to amplify divisive political messages.</p><p>The company discovered roughly $100,000 in ad buys between June 2015 and May 2017 "associated with roughly 3,000 ads" and connected to nearly 500 affiliated fake accounts.</p><p>To read more about the discovery,<a href="http://www.businessinsider.com/facebook-says-fake-accounts-linked-to-russia-bought-ads-during-us-election-2017-9"><strong> click here.</strong></a> </p><p><strong>In other news:</strong></p><p><strong><a href="http://www.businessinsider.com/facebook-sales-chief-says-the-companys-audience-estimates-are-ok-2017-9">Speaking of Facebook, its sales chief says a Wall Street research note on data errors is being misconstrued.</a> </strong>The company's vice president of global marketing solutions Carolyn Everson made the statement to Business Insider in response to a note by Pivotal Research Group analyst Brian Wieser distributed to clients on Tuesday.</p><p><a href="http://www.businessinsider.com/instagram-tests-letting-people-post-instagram-stories-to-facebook-2017-9"><strong>On the other hand, Instagram has started letting some users share their Snapchat-like 'Stories' directly to Facebook.</strong></a> The Stories cross-posting feature is currently being tested with a small percentage of Instagram users, a company spokesperson told Business Insider on Wednesday.</p><p><a href="http://www.businessinsider.com/cole-haans-latest-advertising-campaign-2017-9"><strong>Cole Haan is ditching the traditional fashion advertising playbook for its latest campaign.</strong></a> The premium fashion brand's latest campaign is a departure from typical fashion ad campaigns, focusing on podcasts, native articles and digital streaming services instead of glossy magazine ads.</p><p><a href="http://www.businessinsider.com/r-special-report-how-honda-lost-its-mojo-and-the-mission-to-get-it-back-2017-9"><strong>Honda's new CEO has created a 'skunkworks' to restore the company's history of innovation.</strong></a> Takahiro Hachigo wants to revive a culture that encourages engineers to take risks and return to a corporate structure that protects innovators from bureaucrats focused on cost-cutting. </p><p><a href="http://www.businessinsider.com/spotify-hulu-streaming-bundle-college-students-2017-9"><strong>Students can now get Spotify and Hulu together for $5 a month.</strong></a> The new deal marks the first TV-and-movie partnership for Spotify, with the company deeming it only the "first step" in its bid to target the broader market with a similar bundle deal.</p><p><a href="https://www.bloomberg.com/news/articles/2017-09-06/apple-is-said-to-reach-music-deal-with-warner-sony-pact-next"><strong>Apple has reached a music deal with Warner Music Group, Bloomberg reports.</strong></a><span> The firm apparently plans to pay less than it originally did.</span></p><p><a href="http://www.businessinsider.com/zello-walkie-talkie-tops-app-store-ahead-hurricane-irma-2017-9"><strong>A walkie-talkie app called Zello is No. 1 in the US App Store because of Hurricane Irma.</strong></a><span> It lets you use your phone as a two-way radio.</span></p><p><a href="http://www.businessinsider.com/loomia-startup-electric-fabric-ethereum-token-sale-2017-9"><strong>Loomia is a Brooklyn-based startup that wants your clothes to be smarter - and it's using blockchain to do it.</strong></a> The 3-year-old startup partners with other companies to add its tech-enabled textile to products like apparel or shoes. </p><p><a href="http://www.businessinsider.com/seeking-nominations-for-most-innovative-marketing-executives-2017-8"><strong>Business Insider is seeking nominations for the most innovative marketing executives in the world.</strong></a><span> Submit your ideas via <a href="https://docs.google.com/forms/d/e/1FAIpQLSfKgEP6uZBuqCsMPrksMVAvgTVllrFEAfcc2X-EtTXATqe7pQ/viewform?usp=sf_link">this anonymous survey</a>. </span></p><p><em>Follow us at</em> <a href="http://read.bi/2eHPhLy"><span><em>@BI_Corporate</em> </span></a><em>  to be among the first to hear about news and updates from Business Insider. </em></p><p><em>Also,</em> <em>sign up for the </em><a href="http://read.bi/2uscrJP"><span><em>Executive Summary</em></span></a> <em>, a new biweekly newsletter that brings the latest marketing news, trends, and company updates straight to your inbox.</em></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/watch-pilots-fly-directly-into-hurricane-harvey-noaa-2017-8">Pilots flew straight into Hurricane Harvey and caught this incredible first-hand footage</a></h3>        <div>                    </div>    </div>

What you need to know in advertising today

<br /> <keyword id="20630" type="CITY" weightage="100" keywordseo="Honda">Honda</keyword> BR-V, compact sports utility vehicle by Japanese auto major Honda will be launched in India in the next financial year. <br /><br />

	The seven-seater vehicle is likely to be offered in both petrol and diesel variants.
<br /><br /> The model will compete with the likes of <keyword id="596" type="CITY" weightage="100" keywordseo="Hyundai">Hyundai</keyword> Creta, <keyword id="43777" type="CITY" weightage="100" keywordseo="Renault">Renault</keyword> Duster and <keyword id="140499" type="UNKNOWN" weightage="100" keywordseo="Mahindra-Scorpio">Mahindra Scorpio</keyword>, among others. <br /><br />

	Honda showcased a lineup of models at the 44th Tokyo Motor Show 2015 here and unveiled a new fuel cell vehicle (FCV) named Clarity Fuel Cell.
<br /><br />

	The "all-new" Clarity fuses the ease of use of a gasoline-powered vehicle and values that are unique to a FCV at a high level, company officials said.
<br /><br />

	Honda will begin lease sales of Clarity in Japan in March 2016, followed by the US and Europe.
<br /><br />

	"A highly unique package for this vehicle was realised based on Honda's longstanding M/M concept- man maximum, machine minimum - which means to maximise the space for people and minimise the space required for mechanical components," Honda President and Chief Executive Officer Takahiro Hachigo told reporters here.
<br /><br />

	Providing an update on Honda's aviation foray, he said: "Finally, let me say that some of Honda's challenges toward new mobility products will bear fruit this year. Our entry into the aviation industry, which was also a dream of our company founder, with our HF120 jet engine and HondaJet is coming very close."
<br /><br />

	Honda flew its HondaJet for the first time in Japan in April.

	<br />
	<br />
	(Image credits: Indiatimes)

Honda BR-V to be launched in India next fiscal

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Kyodo/via REUTERS</span></p><p class="caption">Honda CEO Takahiro Hachigo poses in front of the new Honda NSX, at its Japan launch event in Tokyo, Japan.</p></div><p></p></div></div>For nearly three decades, the transmissions of choice were the four-speed automatic and the five-speed manual.</p><p>However, over the past couple of years, the number of gears in transmissions have skyrocketed.</p><p>Now, Honda has taken the madness to a whole new level with a patent for an 11-speed multi-clutch transmission, the <a href="http://www.autonews.com/article/20160919/OEM06/309199985/this-transmission-goes-to-11" target="_blank">Automotive News' Naoto Okamura reported</a>.</p><p>In addition to 11 gears, the patent also calls for three clutches - one more than the industry standard for this type of transmission.</p><p>According to the publication, Honda filed the patent in December of 2014, but its existence was only recently made public.</p><p>A representative from Honda was not immediately available for comment. </p><p>While the four- and five-speed transmissions offered solid, reliable performance, automakers have turned to higher gear counts as a strategy to achieve greater fuel economy without sacrificing potent acceleration.</p><p>As recently as 2012, Honda's mainstream products sold with five-speed automatics.</p><p>Currently Honda's mainstream offerings in the US use a Continuously Variable Transmission (CVT) to get its power to the road. However, its Acura premium brand deploys a seven-speed dual-clutch transmission on its RLX Sport Hybrid sedan while its ILX and TLX sedans get an eight-speed DCT. The brand's new flagship NSX supercar gets a nine-speed DCT.</p><p>Honda isn't the only company bolting transmissions with sky high gears counts on their cars. All Fiat-Chrysler's cars come with nine-speed ZF automatics - as do many Mercedes-Benz models. Jaguar Land Rover, BMW, and Lexus prefer an eight-speed automatic transmission. While Audi and Infiniti prefer seven-speeds. ;</p><p>In addition, <a href="http://autoweek.com/article/technology/ford-mustang-leak-new-ten-speed-automatic-transmission" target="_blank">Ford and</a> <a href="http://media.gm.com/media/us/en/gm/home.detail.html/content/Pages/news/us/en/2016/may/0511-10speed-gm.html" target="_blank">GM are both readying 10-speed automatic</a> transmission for release in the near future.</p><p>Venturing towards double digit gear counts is not without risk. Thus far, no manufacturer has been able to smooth out the the rough edges on any transmission with more than eight gears. In addition, more gears and more clutches also translates into greater levels of complexity. Recent history has shown that increased complexity has a direct correlation with lower levels of reliability - at least for the first few years the transmission is in production.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/45-million-dollar-private-hondajet-2016-3">Here's what you get for $4.5 million - the Honda Civic of jets</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VpNDlmdjrlsEAjmvx1OFht202WLUVmCJ" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Honda is taking transmissions to a new level of madness

<ul><li><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Honda</span></p><p class="caption">Honda released this image on Tuesday when it announced the debut of it Urban EV Concept.</p></div><p></p></div></div><strong>Honda plans to launch two fully electric cars in 2018. </strong></li><li><strong>One will launch in China, and the other will likely launch in Europe. </strong></li><li><strong>The company plans to unveil an electric EV concept for the European market at the Frankfurt Motor Show in September. </strong></li></ul><p><a href="http://markets.businessinsider.com/stock/HMC-Quote">Honda</a> is taking aim at <a href="http://markets.businessinsider.com/stock/TSLA-Quote">Tesla</a> and launching two electric cars by 2018. </p><p>Honda said in June that one of its upcoming electric cars will be specifically for the Chinese market, and the company hinted in a statement Tuesday that the <a href="http://world.honda.com/news/2017/4170829eng.html" target="_blank" rel="noopener noreferrer">other would be for the European market.</a></p><p>Honda said in the statement that it will debut its Urban EV Concept at the Frankfurt Motor Show in mid-September. The company described the vehicles as "Honda's first EV for Europe." In June, the company's president and CEO, Takahiro Hachigo, had only said that the <a href="https://www.hondanews.info/news/en/corporate/c170608eng" target="_blank" rel="noopener noreferrer">other vehicle would be made for other regions</a>. </p><p><span>Honda is aiming for two-thirds of its vehicles to be electrified by 2030. The company said it plans to share more details about how it plans to accomplish this in Frankfurt. Currently, the company sells an all-electric version of its Clarity in the US, but the vehicle only gets a range of about 89 miles per charge. The company has not yet revealed any details about the upcoming concept car, but it's likely the vehicle will have a range exceeding 100 miles per charge. </span></p><p>Honda's push to make fully electric vehicles marks a significant shift for the Japanese automaker. The company had previously focused on the development of hydrogen and hybrid cars, betting these would be the vehicles of the future.</p><p>However, as more automakers jump into the electric car space and countries like China strengthen regulations favoring electric vehicles, the company has switched gears somewhat. </p><p>Last year, the company <a href="http://www.businessinsider.com/r-honda-to-focus-on-self-driving-cars-robotics-evs-through-2030-2017-6" target="_blank" rel="noopener noreferrer">created a division dedicated to developing EVs</a> and in April, the company announced that it planned on rolling out at least <a href="http://www.businessinsider.com/r-honda-to-launch-all-electric-battery-car-in-china-next-year-executive-2017-4" target="_blank" rel="noopener noreferrer">one electric car in China</a> in 2018. </p><p>In a way, the company is playing catch up. Many automakers, including Volkswagen, Ford, and Nissan, have already committed to rolling out <a href="http://www.businessinsider.com/electric-cars-launching-2021-2016-11" target="_blank" rel="noopener noreferrer">long-range electric cars during the next few years</a>. And GM already launched its first all-electric vehicle, the <a href="http://www.businessinsider.com/2017-chevy-bolt-review-photos-2017-8" target="_blank" rel="noopener noreferrer">Chevy Bolt</a>, last year. </p><p>What's more, Tesla, the leader in the EV space, recently expanded its offerings to include a mass-market vehicle, the Model 3. </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Bryan Logan/Business Insider</span></p><p class="caption">Tesla delivered its first 30 Model 3 vehicles in late July.</p></div><p></p></div></div></p><p>The Model 3 is a high-tech car with a range of 220 miles per charge, priced at $35,000 before tax incentives. </p><p>Tesla delivered its first 30 Model 3 vehicles in July, and CEO Elon Musk has said the company aims to produce some <a href="http://www.businessinsider.com/tesla-model-3-delivery-estimate-2017-8" target="_blank" rel="noopener noreferrer">1,500 units in September and some 20,000 per month by December</a>. Still, though, the bulk of <a href="http://www.businessinsider.com/tesla-model-3-delivery-estimate-2017-8" target="_blank" rel="noopener noreferrer">Tesla's pre-orders will be delivered in 2018,</a> which is when the all-electric Honda will become available in some markets. </p><p>Honda, like other automakers, is honing in on the Chinese market to kickstart EV sales because the country is working to implement regulations that would drive EV adoption. Basically, China wants to set quotas for automakers so that <a href="http://www.businessinsider.com/r-china-likely-to-unveil-nev-car-quotas-soon-but-delay-implementation-sources-2017-8" target="_blank" rel="noopener noreferrer">electrified vehicles make up at least a fifth of Chinese car sales by 2025</a>. </p><p>Renault-Nissan announced on Wednesday that it will also be tackling the Chinese market and plans to begin production of an electric mini-SUV beginning in 2019. Earlier this month, Ford announced it was launching a new brand in <a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;uact=8&amp;ved=0ahUKEwiSrc7Dvv_VAhWhx4MKHSekC0EQFggmMAA&amp;url=http%3A%2F%2Fwww.businessinsider.com%2Fford-wants-to-build-electric-vehicles-in-china-2017-8&amp;usg=AFQjCNF97XG2H15rnxiJNOvjicHvZ3jtAg" target="_blank" rel="noopener noreferrer">China for the production of its electric car</a>, and GM is already selling a small all-electric car in the country for $5,300. </p><p class="tagline">Get the latest Tesla stock price<a href="http://markets.businessinsider.com/stock/TSLA-Quote"> <strong>here.</strong></a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/hondas-neuv-self-driving-taxi-rideshare-2017-1">Honda wants its newest concept car to become your personal self-driving taxi</a></h3>        <div>                    </div>    </div>

Honda is firing back at Tesla and other automakers by rolling out 2 electric cars by 2018

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Thomson Reuters</span></p><p class="caption">US Federal Reserve chair Janet Yellen.</p></div><p></p></div></div>Good morning! Here are the 10 things you need to know in markets on Wednesday.</p><p><strong><strong>Pharmacy giant Walgreens Boots Alliance, which owns Boots in the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>, has announced plans to buy rival chain Rite Aid for $9 (£5.88) per share. </strong></strong><a href="http://uk.businessinsider.com/its-official-walgreens-is-buying-rite-aid-2015-10">That values Rite Aid at $9.4 billion (£6.1 billion).</a> The deal is worth $17.2 billion (£11.2 billion), including debt.</p><p><strong>The US Federal Reserve's latest monetary policy announcement is due at 6 p.m. GMT (2 p.m. EST) today. </strong>The Fed's policy-setting committee (the Federal Open Markets Committee) is <a href="http://uk.businessinsider.com/fomc-october-meeting-preview-2015-10">expected to leave its benchmark interest rate unchanged at 0%-0.25%</a>.</p><p><strong>Asian stock markets are mixed ahead of the Fed's announcement.</strong> Japan's Nikkei is up 0.67% at time of writing (6.25 a.m. GMT/2 a.m. EST), the Hong Kong Hang Seng is down 0.53%, and the Shanghai Composite is down 1.06%.</p><p><strong>Twitter shares crashed in after-hours trading in the US after the company reported another quarter of disappointing user growth and a weak revenue forecast for the last three months of the year. </strong>The microblogging site <a href="http://uk.businessinsider.com/twitter-earnings-q3-2015-2015-10">reported </a><a href="http://uk.businessinsider.com/twitter-earnings-q3-2015-2015-10">320 million monthly active users</a>, versus the 324 million expected by analysts, and compared to 316 million users in the second quarter.</p><p><strong>Shell is taking a $2 billion (£1.3 billion) writedown after cancelling its Carmon Creek project in the oil sands of western Canada, saying the decision was partly a result of a shortage of pipeline capacity in the region.</strong> <a href="http://www.ft.com/cms/s/0/32a8cf92-7cf5-11e5-98fb-5a6d4728f74e.html#axzz3peaDiqra">The Financial Times reports</a> that the oil giant will also write off 418 million barrels of oil from its reported proved reserves, about 3% of its worldwide total at the end of last year.</p><p><strong>Apple delivered a solid earnings report overnight, with just about everything in its right place.</strong> For the September quarter, <a href="http://uk.businessinsider.com/apple-q4-earnings-2015-10">it earned $1.96 (£1.28) per share on $51.5 billion (£33.6 billion) in revenue</a>. Its earnings were ahead of expectations, while revenue was roughly in line.</p><p><strong>Credit Suisse has hired five new bankers for its Americas Healthcare group - and they all come from Barclays.</strong> <a href="http://uk.businessinsider.com/credit-suisse-hires-barclays-team-2015-10">Punit Mehta and Jordan Bliss join Credit Suisse as managing directors</a>, while Thomas Burkly, Connie Chiang, and Naeem Merchant join as directors.</p><p><strong>Volkswagen and Nissan are bullish on China. </strong>Nissan CEO Carlos Ghosn <a href="http://www.businessinsider.com/r-nissan-ceo-ghosn-sees-china-economic-slowdown-as-temporary-2015-10?IR=T">said on Wednesday he was not worried about the longer-term potential of the Chinese economy</a>, while Volkswagen brand CEO Herbert Diess told reporters at the Tokyo Motor Show he <a href="http://www.businessinsider.com/r-volkswagens-diess-says-doesnt-think-china-market-has-peaked-2015-10?IR=T">does not think demand for cars had peaked in China</a>.</p><p><strong>But Japanese carmaker Honda is more cautious about the market.</strong> <a href="http://www.businessinsider.com/r-honda-to-meet-china-sales-targets-but-outlook-uncertain-ceo-2015-10?IR=T">Honda Motor CEO Takahiro Hachigo told Reuters</a> he is confident it can achieve its 2015 sales target of 950,000 cars in China, but is cautious about increasing production in the world's No.2 economy given the uncertain economic outlook.</p><p><strong>A Canadian appeal court has ordered two major tobacco companies to set aside a combined C$984 million (£484.7 million, $742 million) while they challenge billions of dollars in damages awarded to smokers in the province of Quebec. </strong>Imperial Tobacco Canada, a subsidiary of British American Tobacco, <a href="http://www.businessinsider.com/r-canada-court-orders-tobacco-companies-to-set-aside-almost-c1-billion-2015-10?IR=T">must put aside C$758 million</a>, and Rothmans, Benson &amp; Hedges, a subsidiary of Philip Morris International, must deposit C$226 million, the Quebec Court of Appeal said.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/most-interesting-men-world-watches-rolex-breitling-jorg-gray-2015-8">These are the watches worn by the smartest and most powerful men in the world</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="N3NGJ0djpb_DdQzkXVopAvbq5AmmiuOx" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

You Searched For "Takahiro Hachigo" and got 9 results

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