Honda Motor (TYO:7267) signed an agreement with its Chinese joint venture partner, Guangzhou Automobile Group or GAC (SHA:601238, HKG:2238), to extend their automobile production and sales deal through 2038, according to a Monday release.
The automotive company said that the extension comes amid growing competition in electric vehicles and intelligent driving technologies and would not make any material impact on its consolidated financial results for the fiscal year ending March 31, 2027.
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