에 대한 최신 뉴스 Suzuki Motor (OTC:SZKMY) 주식

SUZUKI MOTOR CORP

Suzuki Motor

Suzuki Motor Corp is an automobile manufacturing company. It organizes itself into three segments based on product type namely: automobile, motorcycle, and Marine business. The automotive business, which contributes the vast majority of revenue, largely focuses on passenger vehicles. The motorcycle business manufactures on- and off-road motorcycles and scooters, and contributes the next-largest portion of sales. The Marine business manufactures four-stroke motors for marine use. Nearly half of consolidated revenue is derived from Asian countries excluding Japan, with a third of sales made domestically.

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토요타 자동차(OTC:TOYOF), 마쓰다 자동차(OTC:MZDAY), 혼다(OTC:HNDAF), 스즈키 자동차(OTC:SZKMY) 등 일본 주요 자동차 제조사의 주가가 안전 스캔들로 인해 큰 타격을 입었다. 사건의 전말 (What Happened): 일요일 CNBC에 따르면 일본 국토교통성은 특정 차량 모델들을 인증하는 데 허위 데이터가 사용된 사실을 파악했으며, 이로 인해 해당 자동차 제조업체들의 주가가 크게 하락했다.

토요타의 시장 가치가 안전 테스트 위조 스캔들로 150억 달러 이상 급락

SUZUKI MOTOR CO UNSP/ADR by Suzuki Motor Co.

Suzuki Motor Corp

Gentex Corporation&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gntx#NASDAQ">GNTX</a>) second-quarter 2024 earnings per share of 37 cents missed the Zacks Consensus Estimate of 52 cents and decreased 21.3% year over year.
This Zeeland-based automotive products supplier reported net sales of $573 million, which missed the Zacks Consensus Estimate of $623 million and fell 1.7% from the year-ago period. The company recorded a gross margin of 32.9%, reflecting a decline of 20 basis points from the second quarter of 2023, due to lower sales and unfavorable product mix.
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<h3>Gentex Corporation Price, Consensus and EPS Surprise</h3>
<img alt="Gentex Corporation Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/2b/1722422480.png" style="height:268px; width:574px" title="" />
Gentex Corporation price-consensus-eps-surprise-chart | Gentex Corporation Quote
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<h3>Segmental Performance</h3>
The Automotive segment&#39;s net sales &mdash; contributing the most to Gentex&#39;s revenues &mdash; totaled $559.3 million in the second quarter, which was 2.6% lower than the $574.1 million reported in the year-ago quarter and missed our estimate of $619.6 million. In the reported quarter, auto-dimming mirror shipments in the North American market decreased 4% to 4,051,000 units. Shipments fell 7% year over year in the international markets to 8,133,000 units. Total shipments declined 6% to 12,184,000 units.
Other net sales, which include dimmable aircraft windows and fire protection products, increased from the year-ago quarter&#39;s $9.4 million to $13.6 million and outpaced our estimate of $9.6 million. Fire protection sales increased $1.3 million from the year-ago quarter&#39;s figure. Dimmable aircraft window sales increased $2.9 million from the year-ago quarter&#39;s level.
<h3>Financial Tidbits</h3>
Total operating expenses rose 12% year over year to $73.7 million in second-quarter 2024. Engineering and R&amp;D expenses increased to $44 million from $38 million. SG&amp;A expenses rose to $29.7 million from $27.8 million recorded in the corresponding quarter of 2023.
GNTX paid a dividend of 12 cents per share in the quarter. It repurchased 1.4 million shares of its common stock at an average price of $34.43 per share. As of Jun 30, 2024, the company had nearly 13.2 million shares remaining for buyback, per its previously announced share repurchase plan. Gentex had cash and cash equivalents of about $260.2 million as of Jun 30, 2024.
<h3>Revised 2024 Guidance</h3>
Gentex now expects 2024 net sales in the range of $2.40-$2.50 billion, down from the previous estimate of $2.45-$2.55 billion. The gross margin is projected in the band of 34-34.5%, down from the previous guidance of 34-35%. Capital expenditure is anticipated between $175 million and $200 million, down from the previous outlook of $225-$250 million. Operating expenses are estimated in the band of $295-$305 million.
<h3>Zacks Rank &amp; Key Picks</h3>
GNTX currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the auto space are Suzuki Motor Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/szkmy#OTC">SZKMY</a>), BYD Company Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) and Honda Motor Co., Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for SZKMY&#39;s 2025 earnings suggests a year-over-year growth of 2.09%. EPS estimates for 2025 and 2026 have improved 38 cents and 15 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for BYDDY&#39;s 2024 sales and earnings suggests year-over-year growth of 21.11% and 9.93%, respectively. EPS estimates for 2024 and 2025 have improved 19 cents and 29 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for HMC&#39;s 2025 sales and earnings suggests year-over-year growth of 0.73%. EPS estimates for 2025 have improved a penny in the past seven days. EPS estimates for 2026 have improved 4 cents in the past 30 days.
<a href="https://www.zacks.com/stock/news/2313197/gentex-gntx-q2-earnings-miss-expectations-guidance-trimmed?cid=CS-BENZ-FT-analyst_blog|earnings_article-2313197">To read this article on Zacks.com click here.</a>

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Gentex Q2 Earnings Miss Expectations, Guidance Trimmed

Allison Transmission Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alsn#NYSE">ALSN</a>) has signed a contract with BAE Systems Hagglunds (OTC: <a class="ticker" href="https://www.benzinga.com/stock/baesf#OTC">BAESF</a>), a prominent European producer of tracked combat vehicles, to supply the new Allison 4040 MX propulsion system for the ongoing CV90 Infantry Fighting Vehicle (IFV) programs, with production expected to commence in 2028. The 4040 MX, an upgraded version of the 3040 MX cross-drive transmission used in the U.S. Army&#39;s M10 Booker Combat Vehicle, expands Allison&#39;s medium-weight product line.
This agreement continues a longstanding collaboration between BAE Systems and Allison, presenting an opportunity for growth in ALSN&#39;s Defense market, potentially generating $100 million in additional annual revenues from various programs. BAE Systems&#39; BvS10 and Beowulf tracked vehicles are already equipped with Allison 3000 Specialty Series transmissions.
The 4040 MX will be used in ongoing CV90 programs, including the CV90 Mk IV IFV, and the agreement ensures long-term support for the existing CV90 fleet equipped with Allison X300 transmissions. Currently, nearly 1,000 CV90s are operated by countries, including Sweden, Denmark, Estonia, Finland, the Netherlands, Norway and Switzerland.
BAE Systems and the CV90 have also secured significant IFV contracts in Slovakia and the Czech Republic for about 400 new vehicles. The CV90 IFV, designed and manufactured in Sweden, is renowned for its protection of crew and passengers, accommodating a crew of three and up to eight soldiers.
Per Dana Pittard, vice president of Defense Programs at Allison, the introduction of the 4040 MX enriches ALSN&#39;s portfolio, facilitating international expansion with innovative solutions tailored to customer needs.
In a separate development, ALSN has supplied more than 10,000 fully automatic transmissions for the Hyundai Mighty since its 2020 integration. Currently, half of all Hyundai Mightys sold are equipped with Allison fully automatic transmissions, representing a significant increase from 10% four years ago. The 10,000th Mighty truck with an Allison fully automatic transmission was delivered to Unchang Logitec, a leading Korean logistics company.
The Hyundai Mighty, a 2.5- and 3.5-ton light-duty truck, dominates the South Korean market. The rising demand for Mighty automatic trucks is driven by their comfort, fuel efficiency, reliability, serviceability and productivity. Since its launch, Allison has delivered more than 10,000 units of the Allison 1000 xFE fully automatic transmissions for the Hyundai Mighty, used in various applications, such as delivery trucks, cargo trucks, refuse vehicles, firefighting trucks and specialty vehicles.
The Allison 1000 xFE transmission offers better launch performance, higher productivity, smoother shifting, easier operation and enhanced driver comfort compared to manual and automated manual transmissions. Its patented torque converter enhances performance and eliminates the need for clutch replacements, resulting in higher economic value through increased productivity and reduced downtime.
<h3>Zacks Rank &amp; Other Key Picks</h3>
ALSN currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the auto space are Suzuki Motor Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/szkmy#OTC">SZKMY</a>), Honda Motor Co., Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>) and American Axle &amp; Manufacturing Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for SZKMY&#39;s 2025 earnings suggests year-over-year growth of 2.09%. EPS estimates for 2025 and 2026 have improved 38 cents and 15 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for HMC&#39;s 2025 sales and earnings suggests year-over-year growth of 0.73%. EPS estimates for 2025 have improved 9 cents in the past 60 days.
The Zacks Consensus Estimate for AXL&#39;s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. EPS estimates for 2024 have moved up 2 cents in the past 60 days. The same for 2025 has moved up 5 cents in the past 30 days.
<a href="https://www.zacks.com/stock/news/2304610/allison-alsn-collaborates-with-bae-systems-to-supply-4040-mx?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2304610">To read this article on Zacks.com click here.</a>

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Allison Collaborates With BAE Systems to Supply 4040 MX

AutoNation, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/an#NYSE">AN</a>) has lowered its second-quarter 2024 quarterly earnings forecast following a cyberattack on software provider CDK Global on Jun 19, 2024. The auto retailer cut its guidance for earnings per share by $1.50 to $3.15-$3.30 for the three months ending Jun 30.
Despite the negative impact of the CDK outage on AutoNation&#39;s business and productivity, the incident is not expected to have a significant impact on the company&#39;s overall financial condition or operations. The company has regained access to its dealer management system and core functions and anticipates completing the restoration of the remaining ancillary systems by the end of July.
With the guidance trimmed for the second quarter of 2024, should investors consider selling the stock? Or is it worth retaining in your portfolio? Let&#39;s find out.
<h3>Soundly Managed Risk &amp; Expansion Efforts to Drive Prospects</h3>
A diversified product mix and multiple streams of income (from the sale of new and used vehicles, after-sales services and customer financial business) reduce the risk profile of AutoNation and augur well for its earnings and sales growth.
A strong geographical footprint, large dealer network and store expansion efforts are praiseworthy and allow the company to reach and serve a broad customer base. In the last reported quarter, the company expanded its used vehicle store footprint in the United States by opening four additional stores.
Enhanced digital solutions are expanding the company&#39;s market presence, with initiatives like next-day ship-to-home, curb-side pick-up and buy-online, pick-up in-store (BOPIS) gaining traction. Omni-channel marketing is integral to AutoNation&#39;s long-term strategy and customer preference for the model is expected to increase its revenues. The launch of AutoNation Express, facilitating online vehicle buying and selling, signifies a leap in digitization.
<h3>Acquisitions to Support Top-Line Growth</h3>
Buyouts of Priority 1 Automotive and Peacock Automotive&#39;s 11 dealerships have boosted AutoNation&#39;s annualized revenues. The acquisition of four dealerships from Moreland Auto Group is also fueling AN&#39;s annual revenues.
Additionally, the CIG Financial buyout has unlocked a significant upside for AutoNation&#39;s F&amp;I segment. The acquisition seeks to take AutoNation&#39;s relationship with its customers beyond the buying experience and throughout the vehicle ownership life cycle. The acquisition of RepairSmith has expanded the company&#39;s range of after-sales services.
<h3>Conclusion</h3>
Despite a stretched balance sheet and rising competition, AutoNation has consistently beat earnings estimates in recent quarters. Better management of risk, rising geographical footprint, large dealer network, store expansion efforts and acquisitions have corroborated the company&#39;s growth. In light of these factors, investors who already have this Zacks Rank #3 (Hold) stock in their portfolio should retain it.
<h3>Key Picks</h3>
Some better-ranked stocks in the auto space are Suzuki Motor Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/szkmy#OTC">SZKMY</a>), Honda Motor Co., Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>) and American Axle &amp; Manufacturing Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for SZKMY&#39;s 2025 earnings suggests year-over-year growth of 2.09%. EPS estimates for 2025 and 2026 have improved 38 cents and 15 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for HMC&#39;s 2025 sales and earnings suggests year-over-year growth of 0.73%. EPS estimates for 2025 have improved 9 cents in the past 60 days.
The Zacks Consensus Estimate for AXL&#39;s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. EPS estimates for 2024 have moved up 2 cents in the past 60 days. The same for 2025 has moved up 5 cents in the past 30 days.
<a href="https://www.zacks.com/stock/news/2303686/autonation-an-cuts-q2-eps-view-buy-hold-or-sell-the-stock?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2303686">To read this article on Zacks.com click here.</a>

AutoNation Cuts Q2 EPS View: Buy, Hold or Sell the Stock?

The stock prices of major Japanese automakers, including Toyota Motor Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TOYOF#OTC">TOYOF</a>), Mazda Motor Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAY#OTC">MZDAY</a>), Honda Motor Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HNDAF#OTC">HNDAF</a>), and Suzuki Motor Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SZKMY#OTC">SZKMY</a>), have taken a hit following a safety scandal.
What Happened: The Japanese transport ministry discovered that false data was used to certify certain models, leading to a significant drop in the stock prices of these automakers, <a href="https://www.cnbc.com/2024/06/10/shares-of-toyota-mazda-honda-suzuki-fall-after-safety-scandal.html">reported</a> CNBC on Sunday.
Toyota, the largest carmaker in Japan, saw its shares plummet by over 5.4% last week, resulting in a market value loss of 2.45 trillion Japanese yen ($15.62 billion). Mazda, the second-largest automaker in Japan, experienced a 7.7% fall in its shares, leading to a market capitalization loss of 80.33 billion yen ($511.8 million).
Other automakers, including Honda, Suzuki, and Yamaha, were also found to have submitted false test data or falsified vehicles used in crash tests. This led to a drop in their stock prices as well.
Last week, Toyota announced a temporary halt in shipments and sales of three models made in Japan: the Corolla Fielder, Corolla Axio, and Yaris Cross, following an investigation by the ministry. 
Toyota&#8217;s Chairman Akio Toyoda apologized for the discrepancy, admitting that seven models were tested using methods that differ from the standards defined by the national authorities. 
Similarly, Mazda suspended the Roadster RF and Mazda 2 from May 30. Both companies assured customers that they can still drive their cars.
See Also: <a href="https://www.benzinga.com/markets/equities/24/06/39222340/forget-tesla-and-rivian-americas-iconic-school-bus-maker-smokes-ev-auto-giants-with-117-stock-su?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Forget Tesla And Rivian: America&#8217;s Iconic School Bus Maker Smokes EV, Auto Giants With 117% Stock Surge</a>
Why It Matters: The recent scandal comes on the heels of a broader investigation into Japanese automakers. Last week, the Ministry of Land, Infrastructure, Transport and Tourism conducted an on-site investigation at Toyota&#8217;s headquarters following the discovery of irregularities in its certification applications. This was part of a comprehensive examination mandated across the industry due to a <a href="https://www.benzinga.com/markets/equities/24/06/39154549/gear-shift-in-japan-toyota-other-auto-giants-reportedly-under-inspection-over-certification-scan">safety test scandal</a> involving Toyota&#8217;s Daihatsu unit.
Furthermore, on Friday, reports surfaced that Mitsubishi UFJ Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>) and Sumitomo Mitsui Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) <a href="https://www.benzinga.com/markets/equities/24/06/39228602/japanese-mega-banks-plan-8-5b-toyota-stake-sale-report">plan to divest approximately</a> 1.32 trillion yen ($8.5 billion) worth of strategic shareholdings in Toyota. This move is part of a broader strategy to dismantle cross-held shares and mitigate adverse effects on Toyota&#8217;s share price. The banks will leverage Toyota&#8217;s recent 1 trillion yen buyback initiative. 
Toyota stock has gained more than 36% in the last 12 months. Investors can gain exposure to the stock via Avantis International Large Cap Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVIV#NYSE">AVIV</a>) and ActivePassive International Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APIE#NYSE">APIE</a>)
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39202077/it-needs-to-end-elon-musk-rages-again-against-corrupted-lie-of-esg-scores-after-teslas-low-ratin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;It Needs To End:&#8217; Elon Musk Rages Again Against &#8216;Corrupted Lie&#8217; Of ESG Scores After Tesla&#8217;s Low Rating Puzzles Cathie Wood</a>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Toyota's Market Value Plunges Over $15B Amid Test Falsification Scandal; Mazda, Honda, Suzuki Follow Suit

Japanese transportation ministry officials reportedly conducted an on-site investigation at the headquarters of Toyota Motor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) following the discovery of irregularities in its applications to certify specific vehicle models.
The broadening repercussions of the certification test issues originated from a safety test scandal involving Toyota&#8217;s Daihatsu compact car unit, reported Reuters.
This situation has also affected other Japanese automakers, as the ministry has mandated comprehensive examinations of certification procedures across the industry.
According to the report, Toyota, Mazda Motor Corp.(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAY#OTC">MZDAY</a>), Honda Motor Company, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>), Suzuki Motor Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SZKMY#OTC">SZKMY</a>), and Yamaha Motor Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/YMHAY#OTC">YMHAY</a>) acknowledged that they had provided either inaccurate or altered data during the vehicle certification process.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/39036874/toyota-subaru-mazda-aim-for-carbon-neutral-future-in-engine-development-details" rel="noreferrer noopener">Toyota, Subaru, Mazda Aim For Carbon-Neutral Future In Engine Development: Details</a>
As per the ministry official, Toyota was the first company to undergo an inspection after being identified on Monday, and the remaining four automakers are also scheduled for inspections, per the report.
The report further cited some analysts who commented that Toyota would be under more pressure to strengthen governance, while others said the impact on sales is likely to be limited given that it is only suspending three model sales and many domestic rivals also fell short of ministry standards.
Yesterday, Toyota announced a temporary halt on shipments and sales of three models in Japan, <a target="_blank" href="https://www.benzinga.com/markets/asia/24/06/39132201/toyota-temporarily-halts-shipments-and-sales-of-three-models-in-japan-after-government-finds-falsifi" rel="noreferrer noopener">effective immediately, amid a safety scandal</a>.
Toyota Motor disclosed on Monday in a press release that it is suspending shipments and sales of the Corolla Fielder, Corolla Axio, and Yaris Cross models in Japan.
Toyota stock has gained more than 45% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Avantis International Large Cap Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVIV#NYSE">AVIV</a>)&nbsp;and&nbsp;ActivePassive International Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APIE#NYSE">APIE</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/39035745/toyota-to-terminate-massive-olympic-sponsorship-deal-after-paris-games-report" rel="noreferrer noopener">Toyota To Terminate Massive Olympic Sponsorship Deal After Paris Games: Report</a>
Price Action: TM shares are up 0.16% at $212.50 premarket at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image &#8211; Shutterstock

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YMHAY

Gear Shift In Japan: Toyota & Other Auto Giants Reportedly Under Inspection Over Certification Scandal

On Monday, Hyundai Motor Company (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) and Kia Corporation signed a memorandum&nbsp;&nbsp;of understanding with Exide Energy Solutions Ltd&nbsp;with the aim of localizing EV battery production in India, joining the efforts of Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) who is also reportedly considering to tap into India for EV production facilities as the&nbsp;average manufacturing labour cost&nbsp;in the country&nbsp;&nbsp;is estimated to be&nbsp;only&nbsp;about one-fourth of labour cost in China.
<h3>Hyundai And Kia Are Boosting Heir Efforts In India</h3>
Exide Energy&nbsp;plans to&nbsp;produce EV battery cells at the end of this year.&nbsp;With a specific focus on&nbsp;lithium-iron-phosphate (LFP) cells,&nbsp;Exide Energy Solutions&nbsp;will be supplying&nbsp;batteries&nbsp;to the South Korean automaker who aims to&nbsp;boost competitiveness in the world&#39;s&nbsp;third largest&nbsp;auto market.&nbsp;Along with the United States, South Korea and Western Europe, India is one of Hyundai and Kia&rsquo;s&nbsp;four biggest revenue generating markets.
Last year, Hyundai committed to invest about $2.40 billion over the next decade in its Indian footprint which includes the launch of six EVs by 2028, along with charging stations.
Meanwhile, Kia aims to bring locally-optimized EVs to India.
Kia CEO and President,&nbsp;Ho Sung Song confirmed the arrival of&nbsp;three&nbsp;EVs,&nbsp;including&nbsp;Carens EV, along with&nbsp;another mass-market product.&nbsp;Kia will be launching the flagship EV9 in India&nbsp;this year. In 2025, India&rsquo;s roads will be getting two mass market EVs from Kia, but Carens will be Kia&rsquo;s first made-in-India EV.&nbsp;The model&nbsp;will compete&nbsp;against&nbsp;other EVs in India, including&nbsp;the Hyundai Creta&nbsp;EV,&nbsp;as well as&nbsp;Honda&nbsp;Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>)&nbsp;Elevate EV&nbsp;and Suzuki Motor Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/szkmy#OTC">SZKMY</a>)-subsidized&nbsp;Maruti eVX, and Tata&nbsp;Motors&nbsp;Curvv EV.
Firing on all cylinders seems to be paying off for Hyundai Motor Company.
On another part of the globe, Hyundai Motor America just reported an all-time record.&nbsp;Earlier this month, Hyundai Motor America reported its best-ever first quarter sales, along with its best ever March.&nbsp;As for the first quarter record, Hyundai sold&nbsp;84,804 units&nbsp;while EV sales rose&nbsp;62%&nbsp;YoY.&nbsp;
In March, Hyundai sold&nbsp;a record breaking&nbsp;76,920 units&nbsp;which represents a 2% YoY increase, while&nbsp;EV sales&nbsp;expanded100%. Hyundai sold&nbsp;11,485 units&nbsp;of&nbsp;eco-friendly vehicles in March. Also last month, Hyundai&nbsp;unveiled an enhanced 2025 Santa Cruz Sport Adventure Vehicle&nbsp;during the New York International Auto Show. Hyundai&nbsp;has never hit its commitment to&nbsp;cutting-edge R&amp;D. Back in 2022,&nbsp;Hyundai America Technical Cente, a divison of Hyundai Motor Group,&nbsp;signed a letter of understanding with Worksport Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>), for the tonneau cover maker specialized in clean energy automotive accessories, to produce a prototype of its solar-powered tonneau cover SOLIS and a modified version of its portable battery system COR to fit the bed geometry of the Santa Cruz. Earlier in March, Worksport confirmed it is on track to launch the SOLIS and COR this summer. With the SOLIS and COR power duo, Worksport is promising extra mileage to EV pickups and off grid mobile power from the Sun to any consumer. Worksport also announced the eligibility of its offering for Tesla, as well as General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>), Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) and others, creating space for many partnerships.
<h3>Hyundai, Kia And Exide&rsquo;s A&nbsp;Strategic Maneuver To Propel India&rsquo;s EV Revolution</h3>
While China and the U.S. deal with an EV slowdown, India&rsquo;s EV market is booming. While the world&rsquo;s two largest economies remain at the forefront of the EV revolution, Hyundai and Kia&rsquo;s strategic maneuver will propel India&rsquo;s growing EV market to join the leading team. After nearly doubling last year, India&rsquo;s EV sales are expected to rise as much as 66% this year, according to Reuters that quoted a&nbsp;research firm Counterpoint.&nbsp;According to the report, EVs will make nearly a third of the country&rsquo;s personal vehicle market by the end of the decade.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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Hyundai And Kia To Boost Their Competitiveness In India

<ul>
<li>A&nbsp;Toyota Motor Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>) affiliate doctored emissions data on some engines dated back to at least 2003, more than a decade earlier than previously indicated,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/autos-transportation/committee-probing-toyota-unit-hino-blames-company-culture-false-data-scandal-2022-08-02/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters reports</a>&nbsp;quoting a probe.</li>
<li>The investigative committee tasked by truck and bus maker&nbsp;Hino Motors Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hinoy#OTC">HINOY</a>) attributed the scandal to an environment where engineers failed to challenge superiors.</li>
<li>Hino set up the committee after it admitted to falsifying data related to emissions and fuel performance of four engines.&nbsp;</li>
<li>The results detailed an oppressive atmosphere where it was difficult for staff to feel &quot;psychological safety.&quot;</li>
<li>Hino&#39;s President, Satoshi Ogiso, apologized and promised a new corporate governance system within three months.</li>
<li>Hino has recalled close to 47,000 vehicles made between April 2017 and March 2022 and looked to recall a further 20,900.</li>
<li>In 2018,&nbsp;Mazda Motor Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mzday#OTC">MZDAY</a>),&nbsp;Suzuki Motor Co&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/szkmy#OTC">SZKMY</a>), and&nbsp;Yamaha Motor Co, Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/yamhy#OTC">YAMHY</a>) came under the scanner for improperly testing vehicles for fuel economy and emissions.</li>
<li>Subaru Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/fujhy#OTC">FUJHY</a>) and&nbsp;Nissan Motor Co, Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>) were held for the same reason the year before.</li>
<li>Toyota recently shared plans to&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28148185/toyota-motor-to-develop-hydrogen-fuel-cell-trucks-in-japan" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">commercialize light-duty</a>&nbsp;fuel cell electric trucks in partnership with Hino and others.</li>
<li>Price Action:&nbsp;TM shares closed higher by 2.57% at $166.77 on Monday.</li>
<li>Photo via Wikimedia Commons</li>
</ul>

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Toyota Affiliate Held Responsible For Fudging Emissions Data From At Least 2003, Investigation Finds

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<ul>
<li>Toyota Motor Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>) has unveiled its first mass-market hybrid car for India, a sport utility vehicle (SUV),&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/autos-transportation/toyota-unveils-its-first-mass-market-hybrid-car-india-emerging-markets-2022-07-01/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Reuters reported</a>.</li>
<li>Toyota will build the Urban Cruiser Hyryder SUV in alliance with&nbsp;Suzuki Motor&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/szkmy#OTC">SZKMY</a>).</li>
<li>Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27838785/toyota-suzuki-join-hands-for-new-suv-with-hybrid-capabilities-to-be-built-in-india" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">2 Japanese Auto Giants To Jointly Make New Hybrid SUV In India</a></li>
<li>The Japanese auto major&rsquo;s latest offering will compete with&nbsp;Hyundai Motor Co., Ltd.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) and Kia Motors Corp (OTC: <a class="ticker" href="https://www.benzinga.com/stock/kimtf#OTC">KIMTF</a>) in a segment that accounts for major auto sales in India.</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27733655/toyota-sticks-to-plan-for-developing-hybrid-low-emission-vehicles-despite-pressure-to-switch-to-elec" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Why Toyota Will Stick To Making Hybrid Cars Amid Growing Calls For EV Transition</a></li>
<li>Price Action:&nbsp;TM shares closed lower by 0.96% at $154.17 on Thursday.</li>
<li>Photo Via Company</li>
</ul>

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KIMTF

Toyota Launches Hybrid SUV For Indian Market: Reuters

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27840442/softbanks-masayoshi-son-emphasizes-chances-of-us-listing-for-arm-pending-final-outcome" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Softbank&rsquo;s Masayoshi Son Emphasizes Chances Of US Listing For Arm</a>
<ul>
<li>Softbank Group Corp (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sftby#OTC">SFTBY</a>) founder and CEO Masayoshi Son stressed the possibility of British-based chip designer unit Arm Ltd listing on Nasdaq pending a final decision.</li>
<li>&ldquo;Most of Arm&rsquo;s clients are based in Silicon Valley and ... stock markets in the U.S. would love to have Arm,&rdquo; Son told at the annual general meeting.</li>
<li>Son acknowledged requests for listing Arm in London without further elaboration.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/06/27840852/phillips-66-under-california-regulators-scrutiny-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Phillips 66 Under California Watchdog Scrutiny</a>
<ul>
<li>California regulators allege Phillips 66 (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/psx#NYSE">PSX</a>) improperly began processing renewable diesel in a unit at its Rodeo, California refinery.</li>
<li>In early June, the Bay Area Air Quality Management District (BAAQMD) issued a notice of violation, alleging that the refinery began producing renewable diesel without first amending the existing air permit, which allows the same type of processing with petroleum feedstocks.</li>
<li>&ldquo;Phillips 66 disagrees with the allegation but is working with the district to resolve the notice of violation,&rdquo; stated the company. PSX added that it had submitted an air permit modification request to the district.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/06/27841189/barclays-to-acquire-mortgage-lender-kensington-for-2-8b-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Barclays Deepens Housing Market Share By Acquiring Mortgage Lender Kensington For ~$2.8B</a>
<ul>
<li>Barclays PLC (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bcs#NYSE">BCS</a>) extends its reach in Britain&rsquo;s housing market with the acquisition of specialist lender Kensington Mortgage Company for 2.3 billion pounds ($2.8 billion), reported Reuters.</li>
<li>Kensington is being sold by its private equity owners, Blackstone Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bx#NYSE">BX</a>) and Sixth Street.</li>
<li>The deal would be funded from existing resources and reduce its core capital ratio by around 12 basis points, stated Barclays.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/06/27840627/talks-regarding-merckseagen-potential-deal-pick-up-speed-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Merck/Seagen Potential Deal Talks Pick Up Speed</a>
<ul>
<li>Merck &amp; Co Inc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/mrk#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MRK</a>) is pushing forward with a potential deal for Seagen Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgen#NASDAQ">SGEN</a>), Wall Street Journal reported, citing people familiar with the matter.</li>
<li>The Journal mentioned that the deal could be one of the largest takeovers of the year.</li>
<li>The Wall Street Journal reported last week that Merck was in talks to buy Seagen, which would bolster the pharma giant&rsquo;s cancer-drug portfolio, but no agreement was imminent.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/06/27839501/heres-why-zendesk-shares-are-trading-higher-premarket" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Here&rsquo;s Why Zendesk Shares Are Trading Higher Today</a>
<ul>
<li>Zendesk, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/zen#NYSE">ZEN</a>) has almost reached a deal with a group of buyout firms, including Hellman &amp; Friedman LLC and Permira, the Wall Street Journal reports.</li>
<li>Zendesk, with a market value of ~$7 billion, was likely to strike a settlement agreement with activist investor Jana Partners LLC days after it declined to sell itself in a private-equity auction.</li>
<li>Zendesk and Jana had explored a truce involving the exit of CEO Mikkel Svane and changes to the board, including the removal of director Carl Bass.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27833794/toyota-motor-recalls-ev-over-faulty-wheels-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toyota Recalls EVs Over Faulty Wheels</a>
<ul>
<li>Toyota Motor Corp (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TM</a>) recalls 2,700 of its first mass-produced electric vehicles (EVs) on tire safety risks, the Wall Street Journal reported.</li>
<li>The auto giant would recall its all-electric 2023 bZ4X SUV after finding fault with bolts that connect the wheels with the vehicle.</li>
<li>Toyota observed that the bolts loosened after a low-mileage use, leading to detachment of the wheels.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/06/27840291/us-senate-passes-significant-gun-safety-legislation-in-decades-what-you-need-to-know" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Gun Violence Bill Coming Soon as US Senate Passes Significant Legislation In Decades - What You Need To Know</a>
<ul>
<li>The U.S. Senate has approved a bipartisan gun violence bill in response to the run of brutal mass shootings. The measure would toughen background checks for youngest gun buyers and keep firearms away from more domestic violence offenders.</li>
<li>The Senate voted 65-33 to approve bipartisan gun-safety legislation, considered the most significant breakthrough on the issue in three decades.</li>
<li>The $13 billion measure would help states put in place red flag laws that make it easier for authorities to take weapons from people adjudged dangerous.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27840643/kkr-cos-marelli-holdings-chooses-court-rehabilitation" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">KKR-Owned Marelli Seeks Court-Led Rehabilitation</a>
<ul>
<li>KKR &amp; Co Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kkr#NYSE">KKR</a>) owned auto-parts supplier, Marelli Holdings Co, is set to opt for court-led rehabilitation after failing to execute an alternative dispute resolution (ADR) process.</li>
<li>The dispute resolution process in Japan lets Marelli operate despite its financial strain after renegotiating its debt with creditors.</li>
<li>The court-led dispute resolution process may take a month.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27838785/toyota-suzuki-join-hands-for-new-suv-with-hybrid-capabilities-to-be-built-in-india" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">2 Japanese Auto Giants To Jointly Make New Hybrid SUV In India</a>
<ul>
<li>Japan&rsquo;s Toyota Motor Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>) said on Friday it will further leverage its global partnership with Suzuki Motor Corp (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/szkmy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SZKMY</a>) to begin production of a new sports utility vehicle in India with hybrid capabilities.</li>
<li>The new SUV, developed by Suzuki, will be built at a Toyota Kirloskar Motor Pvt Ltd plant, the Aichi-headquartered automaker&rsquo;s India plant it runs jointly with the Kirloskar Group.</li>
<li>Toyota and Suzuki started a partnership in 2016 and signed an agreement in 2019 to establish and promote long-term cooperation in new fields, including electric vehicle technology and autonomous driving.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27841213/stellantis-makes-50m-equity-investment-in-lithium-company-vulcan-energy-resources" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Stellantis Makes &euro;50M Equity Investment In Lithium Company Vulcan Energy Resources</a>
<ul>
<li>Stellantis NV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>) has made a &euro;50 million (A$76 million) equity investment in Vulcan Energy Resources Ltd and has extended its original binding offtake agreement to ten years.</li>
<li>Vulcan is a lithium producer and intends to produce a battery-quality lithium hydroxide chemical product from its combined geothermal energy and lithium resource in Germany.</li>
<li>The investment will be utilized for Vulcan&rsquo;s planned production expansion drilling in its producing Upper Rhine Valley Brine Field (URVBF).</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27838519/teslas-new-virtual-power-plant-will-pay-powerwall-owners-to-help-end-brownouts-lift-energy-capacity" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Tesla Powerwall Owners In California Can Help Avoid Brownouts &mdash; And Get Paid For it</a>
<ul>
<li>Tesla Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tsla#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TSLA</a>) has partnered with utility firm PG&amp;E Corporation (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/pcg#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PCG</a>) to launch a new virtual power plant that will pay Powerwall owners to help boost the electric grid during brownouts in California, Electrek reported on Thursday.</li>
<li>The virtual power plant (VPP) consists of distributed energy storage systems, like Tesla Powerwalls, that can double up as power grid services during shortages.</li>
<li>Austin, Texas-based Tesla had in July last year launched the VPP in California. The initiative drew Powerwall owners to join in voluntarily without compensation to let the VPP pull power from their battery packs when the grid needed it.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/22/06/27838804/apple-will-be-a-game-changer-for-ar-headsets-and-lead-industry-to-next-stage-of-rap" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple&rsquo;s AR Headset Will Be An Industry Game-Changer, Says Analyst</a>
<ul>
<li>Apple, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) may not have disclosed much information on its augmented reality/mixed reality headsets, but analysts are excited about the offering from the tech giant.</li>
<li>Will Boost Industry&rsquo;s Prospects: Apple will be a game-changer for headsets, prominent Apple analyst Ming-Chi Kuo said in a note shared on LinkedIn. Although Apple has reiterated that its focus is on AR, its AR/MR supporting video see-thru could offer an &ldquo;excellent immersive experience,&rdquo; the analyst said.</li>
<li>This in turn will further boost the demand for immersive gaming/multimedia entertainment, he added.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/06/27839966/sanofi-gsks-beta-containing-covid-19-vaccine-shows-efficacy-against-omicron" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Sanofi-GSK&rsquo;s Beta-Containing COVID-19 Vaccine Shows Efficacy Against Omicron</a>
<ul>
<li>Sanofi SA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sny#NASDAQ">SNY</a>) and GSK plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsk#NYSE">GSK</a>) have announced positive data from their vaccine trial of adjuvanted bivalent D614 and Beta (B.1.351) vaccine candidate.</li>
<li>&ldquo;Sanofi-GSK&rsquo;s vaccine is the first candidate to demonstrate efficacy in a placebo-controlled trial in an environment of high Omicron variant circulation,&rdquo; Sanofi said in a statement.</li>
<li>The bivalent vaccine targets the beta variant and the original strain of the virus.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27838988/big-banks-can-survive-severe-recession-fed-says-as-they-pass-more-stringent-stress-tests-with-flying" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Can Big Banks Can Survive A Recession? Here&rsquo;s What Fed&rsquo;s Stress Test Reveals</a>
<ul>
<li>Big U.S. banks&rsquo; strong capital levels equip them to continue lending to households and businesses during a severe recession, the Federal Reserve has revealed.</li>
<li>All banks held capital above the minimum capital requirement even as they are expected to report an aggregate loss of $612 billion, the results of a Fed stress test showed on Thursday.</li>
<li>Losses of the large banks rose over $50 billion compared to the 2021 test. That included more than $450 billion in loan losses and $100 billion in trading and counterparty losses.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/06/27824578/solends-ticking-defi-bomb-highlighted-a-lack-of-decentralization" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Solend&rsquo;s Ticking DeFi Bomb Highlights Lack Of Decentralization</a>
<ul>
<li>Solend SLND/US, a decentralized finance (DeFi) lending and borrowing platform, recently highlighted the scarce decentralization most such projects face, as it tried to defuse a ticking bomb that might wreck Solana&rsquo;s SOL/USD DeFi ecosystem and its liquidity.</li>
<li>According to Solend governance proposal SLND1, approved three days before press time, a single whale had deposited 5.7M SOL (worth $170M at the time), equivalent to 25% of the protocol&rsquo;s total value locked (TVL), which was used as collateral to borrow $108 million worth of USD Coin USDC/USD and Tether USDT/USD.</li>
<li>The user was also responsible for 95% of Solend&rsquo;s SOL deposits, and 88% of its outstanding USDC borrows.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27838478/bill-gates-purchase-of-potato-farmland-prompts-outrage-in-north-dakota" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bill Gates Triggers North Dakota Outrage With 2,100-Acre Farmland Buy</a>
<ul>
<li>Microsoft Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) co-founder Bill Gates&rsquo; purchase of 2,100 acres of farmland in North Dakota is reportedly raising hackles among local residents and has led to the state&rsquo;s top prosecutor intervening in the matter.</li>
<li>North Dakota Attorney General Drew Wrigley shot off a letter to the Gates-linked Red River Trust this week, reported KFYR, Bismarck, North Dakota-based T.V. station.</li>
<li>Wrigley asked the company how they intend to use the land and if they meet exceptions to the state&rsquo;s corporate farming laws.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27838369/biden-has-staff-or-minders-detailed-cheat-memo-tells-president-you-take-your-seat" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Joe Biden Accidentally Reveals &lsquo;Written Script&rsquo; For POTUS To Follow At Meetings: &lsquo;YOU Take YOUR Seat&rsquo;</a>
<ul>
<li>President Joe Biden has unwittingly revealed a memo prepared by his staff that provided rather detailed instructions &mdash; including when to take his seat &mdash; on how to conduct a meeting involving wind-industry executives.</li>
<li>The memo, titled &ldquo;Offshore Wind Drop-By Sequence of Events,&rdquo; instructed the president to enter the Roosevelt Room and say &ldquo;hello&rdquo; to the participants. It further stated, &ldquo;YOU take YOUR seat,&rdquo; reported The New York Post.</li>
<li>The memo even specified the length of the president&rsquo;s remarks. &ldquo;YOU ask Liz Shuler, President, AFL-CIO, a question,&rdquo; said the memo.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/entertainment/22/06/27834797/hey-alexa-can-grandma-finish-my-bedtime-story-amazon-unveils-wildly-strange-feature" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">&lsquo;Hey Alexa, Can Grandma Finish My Bedtime Story?&rsquo;: Amazon Unveils Wildly Strange Feature</a>
<ul>
<li>Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) is nearly finished with its four-day Re: MARS conference in Las Vegas, which aims to deliver thoughts from recognized leaders and technical experts in Machine learning, Automation, Robotics and Space (MARS) fields.</li>
<li>What happened: Rohit Prasad, senior vice president and head scientist at Amazon&rsquo;s Alexa AI division, took to the stage to unveil a new capability for Alexa that we&rsquo;re not sure will be available to the public.</li>
<li>Before demonstrating the feature, he warned the crowd: &ldquo;While AI cannot eliminate the pain of loss, it can definitely make their memories last.&rdquo;</li>
</ul>
Photo via Wikimedia Commons

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Benzinga Before The Bell: Gun Safety Bill. Bill Gates North Dakota Outrage, Sanofi-GSK's Covid-19 Vaccine's Omicron Efficacy And Other Top Financial Stories Friday, June 24

Japan&rsquo;s&nbsp;Toyota Motor Corp&nbsp;(NYSE:&nbsp;<a href="https://www.benzinga.com/stock/tm#NYSE" target="_blank">TM</a>) said on Friday it will further leverage its global partnership with&nbsp;Suzuki Motor Corp&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/szkmy#OTC" target="_blank">SZKMY</a>) to begin production of a new sports utility vehicle in India with hybrid capabilities.
What Happened:&nbsp;The new SUV, developed by Suzuki,&nbsp;will be built at a&nbsp;Toyota Kirloskar Motor Pvt Ltd&nbsp;plant, the Aichi-headquartered automaker&rsquo;s India plant it runs jointly with the&nbsp;Kirloskar Group.&nbsp;
Toyota and Suzuki started a partnership in 2016 and signed an agreement in 2019 to establish and promote long-term cooperation in new fields, including electric vehicle technology and autonomous driving.&nbsp;
The two companies, under a global partnership that covers their India subsidiaries, have been sharing cars using a cross-badging strategy.&nbsp;
The powertrains of the new SUV, which will go on sale in India, will be equipped with a mild-hybrid developed by Suzuki and a strong hybrid developed by Toyota.&nbsp;
See Also:<a href="https://www.benzinga.com/news/22/06/27733655/toyota-sticks-to-plan-for-developing-hybrid-low-emission-vehicles-despite-pressure-to-switch-to-elec" target="_blank">&nbsp;Why Toyota Will Stick To Making Hybrid Cars Amid Growing Calls For EV Transition</a>
What&rsquo;s Next?:&nbsp;While Toyota will build the new SUV, both Maruti Suzuki and TKM will market the new model in India as Suzuki and Toyota models.&nbsp;
The two automakers also plan to export the new model to markets outside India, including Africa.
Toyota, the world&rsquo;s largest automaker by sales, last week said that it would continue developing and making hybrid and other low-emission vehicles amid shareholder pressure to embrace electric cars.
The automaker has set a goal of selling 3.5 million EVs per year by 2030. For perspective, the legacy automaker sold 10.5 million vehicles last year.
Price Action:&nbsp;TM stock closed 1% lower at $157.5 on Thursday, according to&nbsp;<a href="https://benzinga.grsm.io/register174" target="_blank">data from Benzinga Pro</a>.

2 Japanese Auto Giants To Jointly Make New Hybrid SUV In India

<ul>
<li>Toyota Motor Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>)&nbsp;<a class="editor-rtfLink" href="https://global.toyota/en/newsroom/corporate/36003677.html" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">slashed its production guidance</a>&nbsp;by around 3% to 9 million units for FY22 due to Southeast Asia&#39;s covid resurgence.</li>
<li>The automaker had previously planned to produce 9.3 million units.</li>
<li>Toyota slashed the September output by 70,000 units and October by 330,000 while sticking to its FY22 operating profit of 2.5 trillion yen ($22.7 billion).</li>
<li>A decline in operations at multiple local suppliers and tighter semiconductor supplies led to the adjustment. While the current outlook appears robust, concerns loom from November onwards.</li>
<li>In August, Toyota had&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/21/08/22575163/toyota-finally-slashes-september-production-by-40-after-holding-off-for-much-of-the-chip-shortage-cr" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">cautioned against production</a>&nbsp;cuts due to the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/21/05/21122140/semiconductor-chip-crisis-to-cost-auto-industry-110b-in-revenue-loss?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+benzinga%2Fmedia+%28Channels+-+Media%29" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">semiconductor and component</a>&nbsp;crisis.</li>
<li>Toyota sought substitute parts to meet the global demand for cars.</li>
<li>Maruti Suzuki India Ltd sees a volume drop by about 40% of normal in August,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2021-09-10/toyota-cuts-output-forecast-on-covid-19-spread-in-southeast-asia?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg reports</a>.&nbsp;Suzuki Motor Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/szkmy#OTC">SZKMY</a>) is shrinking vehicle production by 20% in September in Japan.&nbsp;&nbsp;Renault SA&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rnsdf#OTC">RNSDF</a>) plans to halt assembly plants in Spain for up to 61 days before the end of the year.</li>
<li>Price Action:&nbsp;TM shares closed higher by 0.04% at $180.07 on Thursday.</li>
</ul>

RNSDF

Toyota Cuts Production Outlook Owing To Chip Shortage

<ul>
<li>Suzuki Motor Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/szkmy#OTC">SZKMY</a>) cautioned regarding the continued tight supply of semiconductors and batteries from automakers&rsquo; shift toward electric vehicles (EVs),&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2021-06-25/suzuki-motor-warns-chips-battery-supply-will-remain-tight?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg reports</a>.</li>
<li>Therefore, the automaker planned to raise its stockpiles to counter the crisis.</li>
<li>Due to a range of factors, including the pandemic, Japan factory fire, and the U.S.&rsquo;s frosty weather, the global chip crisis&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/21/05/21236850/semiconductor-crisis-compel-nissan-suzuki-mitsubishi-to-cut-june-production-reuters?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+benzinga+%28Benzinga+News+Feed%29" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">hampered the production</a>&nbsp;of everything from cars to game consoles forcing governments to bolster domestic supply.</li>
<li>Import reliant Japan plans to devote trillions of yen to revive its semiconductor manufacturing industry. The shift to electric and autonomous vehicles signifies higher domestic demand for high-tech semiconductors. Meanwhile, Suzuki will reconsider how it builds cars and review how it interacts with customers on procurement and supply.</li>
<li>In April, Suzuki further lowered its monthly domestic auto production plan to 71,000 units, foregoing an additional 10,000 units due to the chip crisis. The Jan. target was 89,000 units.</li>
<li>Suzuki works to make as many cars as possible by replacing some auto parts, adjusting model production, and exploring possible procurement routes.</li>
<li>Suzuki&rsquo;s July output forecast recovered to 80% of its original plan, compared with 70% in June. Suzuki did not publicly disclose the FY21 production forecast.</li>
<li>The Hungary factory&rsquo;s output for the June quarter will be 80% of the original plan, mainly due to the March&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/21/03/20316427/container-ship-runs-aground-in-suez-canal-blocking-waterway-traffic" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Suez Canal blockage</a>.</li>
<li>Price action:&nbsp;SZKMY shares are trading higher by 0.14% at $171.02 on the last check Friday.</li>
</ul>

SZKMF

Suzuki Motor Warns Against Continued Semiconductor, Battery Crisis: Bloomberg

<ul>
<li>Volkswagen AG&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/vlkaf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VLKAF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/vwagy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VWAGY</a>) expect a production hit for three segments of its Mexican unit from June onward due to the semiconductor chip crisis joining the likes of&nbsp;General Motors Co&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/gm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GM</a>),&nbsp;Ford Motor Co&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/f#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">F</a>) and&nbsp;Toyota Motor Corp&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/tm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TM</a>),&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/autos-transportation/volkswagens-mexico-unit-sees-new-output-tweaks-june-chip-shortage-2021-05-21/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters reports</a>.</li>
<li>Nissan Motor Co Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/nsany#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NSANY</a>),&nbsp;Suzuki Motor Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/szkmy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SZKMY</a>), and&nbsp;Mitsubishi Motors Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/mmtof#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MMTOF</a>) have also&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/21/05/21236850/semiconductor-crisis-compel-nissan-suzuki-mitsubishi-to-cut-june-production-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">met with a similar fate</a>.</li>
<li>Volkswagen will initiate maintenance work at its installations during the slack period.</li>
<li>The German automaker expects the crisis to ensue in the upcoming months.&nbsp;</li>
<li>Price action:&nbsp;VWAGY shares closed at $33.55 on Friday.</li>
</ul>

MMTOF

VLKAF

VWAGY

Semiconductor Chip Crisis Will Hit Volkswagen's June Production At Mexican Unit: Reuters

Tesla Inc&rsquo;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) Germany registrations in the first quarter rose 83% year-over-year but the automaker was outdone by a division of Daimler AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ddaif#OTC">DDAIF</a>), according to data released by the country&#39;s federal motor transport authority, Das Kraftfahrt-Bundesamt.
What Happened: The Elon Musk-led company trailed Smart, which saw a 313.8% YoY increase in registrations &mdash; the highest such growth among all automakers.
For Q1 2021, Tesla registered 6,074 vehicles in Germany, while Smart registered 5,975 vehicles.
Other automakers that saw a rise in registrations include, Volkswagen AG&rsquo;s (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vwagy#OTC">VWAGY</a>) through Porsche and Bayerische Motoren Werke Aktiengesellschaft AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bmwyy#OTC">BMWYY</a>) through Mini.
Stellantis N.V. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>)&nbsp; also saw an increase in registrations through the Alfa Romeo, Peugeot, and Fiat marques.&nbsp;
Suzuki Motor Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/szkmy#OTC">SZKMY</a>), Nissan Motor Co. Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>), and Toyota Motor Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>) were in the green when it came to German registrations in the quarter as well.
Volkswagen recorded the highest number of registrations under its namesake brand at 130,854, down 2.2% year-over-year.
Why It Matters: Last month, it was reported that Tesla <a href="https://www.benzinga.com/news/21/03/20001138/tesla-saw-78-surge-in-german-registrations-in-2020-the-highest-of-any-automaker-by-far" style="text-decoration-line:none">registered a spike</a> in January registrations that put it on the top of the pile.&nbsp;
Interest in the automaker in Germany has reportedly been driven by its Gigafactory Berlin manufacturing facility.
Tesla&rsquo;s sale of the European EV market <a href="https://www.benzinga.com/news/21/03/19931078/teslas-share-of-european-ev-market-reduced-to-3-5" style="text-decoration-line:none">fell to 3.5% in January</a>, according to the automotive analyst Matthias Schmidt.
See also:&nbsp;<a href="https://www.benzinga.com/money/how-to-buy-tesla-stock/">How to Invest in Tesla Stock</a>
Price Action: Tesla shares closed nearly 3% lower at $670.97 on Wednesday and rose 0.21% in the after-hours session.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/21/04/20533520/tesla-ramps-up-india-plan-as-it-onboards-exec-to-lead-business-and-lobbying-report">Tesla Ramps Up India Plan As It Onboards Exec To Lead Business And Lobbying: Report</a>
Click&nbsp;<a href="https://www.benzinga.com/electric-vehicles" rel="noopener noreferrer" target="_blank">here&nbsp;</a>to check out Benzinga&rsquo;s EV Hub for the latest electric vehicles news.

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Tesla Recorded 83% Rise In Q1 Registrations In Germany But Another Automaker Is Growing Much Faster

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