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Mazda Motor (OTC:MZDAY) Stock, Option Chain

MAZDA MOTOR CORP

Mazda Motor

Mazda Motor Corp is a Japanese automobile manufacturer. The company primarily manufactures passenger cars and commercial vehicles. Also, Mazda manufactures diesel and petroleum gasoline engines, along with manual and automatic transmissions for vehicles. The vast majority of Mazda's production is manufactured locally. The company segments itself across four geographic areas: Japan, North America, Europe, and other markets. The company derives more than half its consolidated revenue from operations in Japan, followed by North America, and then Europe.

Toyota Photo by RYO Alexandre on Shutterstock

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AVIV

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MZDAY

SMFG

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The stock prices of major Japanese automakers, including Toyota, Mazda, Honda, and Suzuki, have taken a hit following a safety scandal.

Toyota&#39;s Market Value Plunges Over $15B Amid Test Falsification Scandal; Mazda, Honda, Suzuki Follow Suit

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Japan&#39;s transport ministry inspected Toyota Motor Corporation&#39;s headquarters and found irregularities, leading to broader repercussions in the industry.

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

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Toyota, Subaru, and Mazda are leading the charge in developing cutting-edge engines focused on electrification and carbon neutrality. Their new engines, designed for seamless integration with electric components, promise enhanced vehicle performance and compact configurations. Emphasizing synthetic fuels and liquid hydrogen, these automakers are committed to decarbonizing internal combustion engines, ensuring a sustainable future for the automotive industry and its supply chains.

Toyota, Subaru, Mazda Aim For Carbon-Neutral Future In Engine Development: Details

MAZDA MOTOR CORP UNSP/ADR by Mazda Motor Corp.

Mazda Motor Corp

Mazda Motor (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAY#OTC">MZDAY</a>) reported quarterly losses of $(0.08) per share. This is a 120.51 percent decrease over earnings of $0.39 per share from the same period last year. The company reported $7.98 billion in sales this quarter. This is a 5.94 percent decrease over sales of $8.49 billion the same period last year.

Earnings

Mazda Motor Q2 EPS $(0.08) Down From $0.39 YoY, Sales $7.98B Down From $8.49B YoY

Mazda Motor (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAY#OTC">MZDAY</a>) is looking for FY2025 GAAP EPS of $1.49. seessales of $33.590 billion.

Guidance

Mazda Motor Sees FY2025 GAAP EPS JPY 222.10; Sees Sales JPY 5000B.

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

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

Toyota Motor Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>),&nbsp;along with&nbsp;Subaru Corporation&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/FUJHF#OTC">FUJHF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FUJHY#OTC">FUJHY</a>),&nbsp;&nbsp;and&nbsp;Mazda Motor Corporation&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAF#OTC">MZDAF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAY#OTC">MZDAY</a>),&nbsp;have committed to&nbsp;<a target="_blank" href="https://global.toyota/en/newsroom/corporate/40850156.html" rel="noreferrer noopener">developing&nbsp;</a>engines designed for electrification and carbon neutrality.
The new engines will optimize integration with electric motors, batteries, and other drive&nbsp;components,&nbsp;while&nbsp;also&nbsp;enhancing vehicle design with more compact configurations.
These companies are expanding their options to decarbonize internal combustion engines by making them compatible with&nbsp;various&nbsp;carbon-neutral fuels.
They are working to ensure a future for supply chains and jobs connected to engines.&nbsp;Through extreme&nbsp;conditions in racing, they have broadened powertrain and fuel options, including vehicles running on liquid hydrogen and carbon-neutral fuels.
The new generation of engines will&nbsp;not only enhance standalone performance but also&nbsp;optimize their integration with electric drive units.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38893696/toyota-faced-major-delays-at-mexican-plant-due-to-labor-shortages" rel="noreferrer noopener">Toyota Faced Major Delays At Mexican Plant Due To Labor Shortages</a>
These engines will be compact, allowing for improved vehicle design and aerodynamic performance while meeting stringent emissions regulations.
The&nbsp;advanced&nbsp;engines will shift away from fossil fuels,&nbsp;supporting&nbsp;alternatives like synthetic fuel, biofuels, and liquid hydrogen.
The development&nbsp;is&nbsp;seen&nbsp;as&nbsp;a significant step toward broader adoption of carbon-neutral fuels.
Koji Sato,&nbsp;CEO of Toyota&nbsp;said, &#8220;In order to provide our customers with diverse options to achieve carbon neutrality,&nbsp;it is necessary to&nbsp;take on the challenge of evolving engines that are in tune with the energy environment of the future.&#8221;
Despite their competition in the market, Subaru, Toyota, and Mazda share a commitment to carbon neutrality. They aim to create a sustainable future for Japan&#8217;s auto industry through collaboration with partners.
Price Action: TM shares closed higher by 0.99% at $216.84 on Friday.
Disclaimer:&nbsp;This content was partially produced&nbsp;with the help of&nbsp;AI tools and&nbsp;was&nbsp;reviewed and published by Benzinga editors.
Read Next:<a href="https://www.benzinga.com/news/24/05/38875858/honda-commits-65b-to-electrification-by-2030" target="_blank" rel="noreferrer noopener"> Honda Commits $65B To Electrification By 2030</a>
Photo by aleksandr-popov- for Unsplash

Toyota Motor Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) has reportedly honored its labor union&#8217;s requests for salary and bonus increases for the fourth consecutive year, indicating a potential sustainable wage-price cycle in Japan&#8217;s economy.
The agreement with its unions, announced on Wednesday, led to a surge in the yen and a drop in government bond futures, hinting at anticipation of actions by the Bank of Japan, according to a report from&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-13/toyota-agrees-to-union-pay-hikes-bolsters-boj-policy-shift-view?srnd=industries-consumer&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
Toyota&#8217;s agreements set a precedent for wage trends among major companies, employing over 5 million individuals, showcasing its pivotal role in Japan&#8217;s economic landscape.
The agreement with Toyota follows similar moves by other automakers like&nbsp;Honda Motor Co Ltd&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) and&nbsp;Mazda Motor Corp&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAY#OTC">MZDAY</a>), reflecting a broader push for wage growth that surpasses inflation, the report adds.
The outcomes of these negotiations are expected to prompt the Bank of Japan to consider policy shifts, potentially marking the end of Japan&#8217;s prolonged negative interest rate regime by April, the report cited economists.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37450838/toyota-to-infuse-2-2b-in-brazilian-automotive-sector-report" rel="noreferrer noopener">Toyota To Infuse $2.2B In Brazilian Automotive Sector: Report</a>
Price Action: TM shares are trading lower by 1.98% at $233.23 in premarket on the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

General

Driving Change: Toyota Reportedly Gives Green Light To Higher Wages

Co-development deal aims to create a more seamless, intuitive experience for 2025-2027 Mazda car models and beyond
Unity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>), the world&#39;s leading platform of tools for creators to build and grow real-time games, apps, and experiences across multiple platforms, announced today a new partnership with Mazda Motor Corporation (&quot;Mazda&quot;) to develop a next-generation in-cabin car experience that will deliver a more seamless on-road experience for drivers. The agreement is part of Mazda&#39;s research and development efforts for continuous evolution in the cockpit HMI area, and the GUI to be developed is expected to be installed in models scheduled for introduction from Phase 2 (2025-2027) onwards under Mazda&#39;s 2030 Management Policy.

Unity Partners With Mazda To Develop A Next-Generation In-Cabin Car Experience For 2025-2027 Mazda Car Models And Beyond

Toyota Motor Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) didn&#8217;t make an offer to meet union demands for pay increases amid ongoing wage negotiations.
The workers&#8217; union seeks a 7.6-month bonus and undisclosed wage hike. The automaker, which boosted compensation significantly last year, plans to present an offer at the next meeting on March 13, according to a report from&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-06/toyota-union-at-impasse-over-pay-hikes-with-boj-policy-in-focus?srnd=industries-consumer&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
Given its central role in Japan&#8217;s vast auto manufacturing network, Toyota&#8217;s decisions hold significant weight. The outcome of these negotiations is closely watched, as it could indicate the trajectory of Japan&#8217;s wage-price cycle.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37480148/toyota-revs-up-ev-game-shifts-gears-with-full-ownership-of-peve-for-expanded-battery-production" rel="noreferrer noopener">Toyota Revs Up EV Game: Shifts Gears With Full Ownership Of PEVE For Expanded Battery Production</a>
Prime Minister Fumio Kishida&#8217;s administration advocates for wage growth surpassing inflation, with&nbsp;Honda Motor Co Ltd&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) and&nbsp;Mazda Motor Corp&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAY#OTC">MZDAY</a>) already agreeing to wage increases, the report added.
These talks are part of Japan&#8217;s annual spring wage negotiations, with important implications for the country&#8217;s economy and monetary policy.
Also See:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37450838/toyota-to-infuse-2-2b-in-brazilian-automotive-sector-report" rel="noreferrer noopener">Toyota To Infuse $2.2B In Brazilian Automotive Sector: Report</a>
Price Action: TM shares closed higher by 1.78% at $248.19 on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by RYO Alexandre on Shutterstock

Toyota, Union Likely To Reach Deal On Pay Hike In Mid-March: Report

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) may have been caught in a rut amid <a href="https://www.benzinga.com/markets/equities/24/01/36599836/exclusive-cpi-increase-just-a-hiccup-says-cme-economist-inflation-is-well-under-control" target="_blank" rel="noreferrer noopener">economic uncertainty</a> and an industry-wide slowdown. Still, it boasts a robust sales track record in the U.S. over the past eight years compared to traditional legacy automakers. On Thursday, Elon Musk, CEO of the electric vehicle giant, acknowledged and credited the performance.
What Happened: A Tesla influencer shared a graphic on X, formerly Twitter, illustrating volume growth among automakers from 2015 to 2023. Highlighting a 2 million decrease in U.S. light vehicle sales during this period, the influencer showcased a chart indicating that Tesla&#8217;s U.S. sales surged by 632,088 between 2015 and 2018. 
Notably, Hyundai Motor Company&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) Kia subsidiary, Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>), Geely Automobile Holdings Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYF#OTC">GELYF</a>), Subaru (owned by Fuji Heavy Industries), and Mazda Motor Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAY#OTC">MZDAY</a>) were the only automakers reporting positive growth.
In contrast, Detroit&#8217;s big three —&nbsp;General Motors Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>),&nbsp;Ford Motor Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), and&nbsp;Stellantis AG&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) — experienced sales declines of 504,718, 621,750, and 730,638 units, respectively.&nbsp;Toyota Motor Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), the world&#8217;s largest automaker by volume, recorded a drop of 250,836 units between 2015 and 2023. In response to the post, Musk said: &#8221;Credit to the Tesla team.&#8221;&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Credit to the Tesla team <a href="https://t.co/GTzn8DWBOu">https://t.co/GTzn8DWBOu</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1745464332538753309?ref_src=twsrc%5Etfw">January 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" rel="noreferrer noopener">Everything You Need To Know About Tesla Stock</a>
Why It&#8217;s Important:&nbsp;Tesla recently announced&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36456191/tesla-analysts-call-deliveries-beat-a-major-achievement-but-one-bear-points-out-red" rel="noreferrer noopener">record fourth-quarter deliveries</a>&nbsp;totaling 484,507 units, including models such as the Model 3, Y, S, and X, as well as the Semi and Cybertruck. The company reported annual deliveries of 1.81 million units.
Tesla&#8217;s sales achievements are attributed to factors such as production efficiency, diversified production bases, and product appeal. The company&#8217;s Gigafactories are strategically located in the U.S., China, and Germany, with one under construction in Mexico. Plans are also in place for Tesla to enter the Indian market. Notably, Tesla&#8217;s production processes are more automated compared to traditional legacy counterparts.
Despite ambitious electric vehicle (EV) transitioning plans by U.S. automakers, they have struggled to meet their initial goals. The big three U.S. legacy automakers have scaled back their EV ambitions, with Toyota, for instance, maintaining a focus on hybrid EVs despite entering the pure-play battery EV market.
While Tesla&#8217;s dominance in the EV market may face challenges in the long term due to increasing competition from both legacy automakers and EV startups, its established scale over the years serves as a unique selling proposition. The recent surge in sales by China&#8217;s&nbsp;BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) has positioned it as the biggest battery EV manufacturer, surpassing Tesla in the fourth quarter.
The scale Tesla has built up over the years can be its unique selling proposition if it can execute its strategy.
Tesla ended Thursday&#8217;s session down 2.87% at $227.22, according to<a href="https://benzinga.grsm.io/lxquj26b2sag"> Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36588749/teslas-dominance-to-continue-in-2024-but-traditional-automakers-move-to-slow-down-e">Tesla&#8217;s Dominance To Continue In 2024, But Traditional Automakers&#8217; Move To Slow Down EV Game &#8216;Will Come Back To Haunt Them:&#8217; Munster</a>
(Image created with artificial intelligence on MidJourney and Jonathan Weiss on Shutterstock)

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GELYF

HYMTF

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'Credits To The Tesla Team:' Elon Musk Applauds His Workers As EV Giant Eclipses Legacy Automakers' Sales Growth Over 8 Years

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4059951-1&amp;h=2518729189&amp;u=https%3A%2F%2Fwww.mazdausa.com%2F&amp;a=Mazda+North+American+Operations">Mazda North American Operations</a> (MNAO) today reported total December sales of 39,518 vehicles, an increase of 44.8 percent compared to December 2022. Full-year sales totaled 363,354 vehicles; an increase of 23.2 percent compared to 2022. With 26 selling days in December, compared to 27 the year prior, the company posted an increase of 50.4 percent on a Daily Selling Rate (DSR) basis.
CPO sales totaled 5,130 vehicles in December, an increase of 1.0 percent compared to December 2022.
December 2023 sales highlights include:
<ul>
<li>Best December sales ever with 39,518 vehicles sold.</li>
<li>Best-ever sales of CX-50 with 5,754 vehicles sold.</li>
<li>Best December sales of CX-5 with 20,434 vehicles sold.</li>
<li>Best December sales of CX-30 with 5,672 vehicles sold.</li>
</ul>
In 2023, Mazda achieved many milestones in the US, including:
<ul>
<li>The CX-90 Inline 6 and PHEV began sales in the U.S. in March and has received numerous accolades including Good Housekeeping 2024 Family Travel Award.</li>
<li>In April, Tom Donnelly became MNAO's President and CEO.</li>
<li>Mazda Toyota Manufacturing located in Huntsville, AL, celebrated its fifth anniversary in November.</li>
<li>In early 2023, all tested Mazda vehicles earned the IIHS 2023 TOP SAFETY PICK. These vehicles included the Mazda3 Sedan, Mazda3 Hatchback, CX-30, CX-5, CX-9, and CX-50.</li>
<li>Over the summer we held the very first crash test of 2024 CX-90 in the U.S., earning it IIHS's top-tier award, 2023 TOP SAFETY PICK+.</li>
<li>As the year came to a close, improved pedestrian crash avoidance in 2024 Mazda3 Sedan, Mazda3 Hatchback, and CX-30 earned them upgrades from 2023 TOP SAFETY PICK to TOP SAFETY PICK+.</li>
</ul>
Mazda Canada, Inc., (MCI) reported December sales of 4,461 vehicles, an increase of 62.9 percent compared to December last year. Full-year 2023 sales increased 17.6 percent, with 58,637 vehicles sold.
Mazda Motor de Mexico (MMdM) reported December sales of 7,304 vehicles, an increase of 2.0 percent compared to last year. Full-year 2023 sales increased 57% percent, with 76,017 vehicles sold.
Mazda North American Operations is headquartered in Irvine, California, and oversees the sales, marketing, parts, and customer service support of Mazda vehicles in the United States, Canada, Mexico, and Colombia through approximately 795 dealers. Operations in Canada are managed by Mazda Canada Inc. in Richmond Hill, Ontario; operations in Mexico are managed by Mazda Motor de Mexico in Mexico City; and operations in Colombia are managed by Mazda de Colombia in Bogota, Colombia. For more information on Mazda vehicles, including photography and B-roll, please visit the online Mazda media center at <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4059951-1&amp;h=229646571&amp;u=https%3A%2F%2Fnews.mazdausa.com%2F&amp;a=News.MazdaUSA.com">News.MazdaUSA.com</a>.

Mazda Reports Record December Sales And FY23 Sales Results; Total December Sales Of 39,518 Vehicles, An Increase Of 44.8% YoY; Full-Year Sales Totaled 363,354 Vehicles; An Increase Of 23.2% YoY

The results of an annual survey that explored the reliability of auto brands showed that none of the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36272696/as-gm-ford-struggle-tesla-analyst-has-recommendation-for-jumpstarting-their-sagging">U.S. automakers</a> made it to the top ten.
What Happened: Asian and European automakers took the honors as the most reliable auto brands in 2023, according to the survey by Consumer Reports, a non-profit organization that does independent product testing and consumer-oriented research.
The findings were based on the survey of Consumer Reports&#8217; members regarding the problems they faced with their vehicles in the past year. The data pertained to 330,000 vehicles of model years 2000 to 2023 as well as a few early-introduced 2024 model years.
Toyota Motor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) and its Lexus luxury brand were the top two most trusted brands in 2023. BMW AG&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) Mini brand, Honda Motor Company&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) Acura brand as well as its namesake brand took the third, fourth, and fifth spot, respectively. 
Fuji Industries&#8217; Subaru, in which Toyota has a minority stake, Mazda Motor Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAY#OTC">MZDAY</a>), Porsche Automobil Holding SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/POAHY#OTC">POAHY</a>), BMW and Hyundai Motor Company&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) Kia brand rounded the top ten automakers on the reliability scores.
The overall reliability average score of Asian automakers was 63 on a scale of one to 100 and the metric was 46 for European automakers, Consumer Reports said.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Rank</td>
<td>Auto Brand</td>
<td>Reliability Score</td>
</tr>
<tr>
<td>1</td>
<td>Toyota's Lexus</td>
<td>79</td>
</tr>
<tr>
<td>2</td>
<td>Toyota</td>
<td>76</td>
</tr>
<tr>
<td>3</td>
<td>BMW's Mini</td>
<td>71</td>
</tr>
<tr>
<td>4</td>
<td>Honda's Acura</td>
<td>70</td>
</tr>
<tr>
<td>5</td>
<td>Honda</td>
<td>70</td>
</tr>
<tr>
<td>6</td>
<td>Subaru</td>
<td>69</td>
</tr>
<tr>
<td>7</td>
<td>Mazda</td>
<td>67</td>
</tr>
<tr>
<td>8</td>
<td>Porsche</td>
<td>66</td>
</tr>
<tr>
<td>9</td>
<td>BMW</td>
<td>64</td>
</tr>
<tr>
<td>10</td>
<td>Hyundai's Kia</td>
<td>61</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data: Consumer Reports</figcaption></figure>
See Also: <a href="https://www.benzinga.com/money/best-auto-manufacturers-stocks">Best Auto Manufacturers Stocks</a>
Domestic Automakers Trail: The average reliability score for the U.S. automakers was 39 and none of them were in the top ten category. Among the U.S. automakers, the highest reliability score was for General Motors Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) Buick brand. Buick was ranked 12th and had a reliability score of 55.
Electric vehicle giant Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) took the 14th position and had a reliability score of 48 compared to top-scorer Lexus&#8217; 79. Tesla was followed by truck manufacturer Ram in the 15th place. The Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) was in the 22nd position.
Domestic brands trailed their Asian and European counterparts, with an average score of 39. 
Other Key Findings: The survey also found that hybrids, which are powered by both the ICE and electric motor working either independently or simultaneously, had 26% fewer problems than cars powered by internal combustion engine vehicles. The reliability of plug-in hybrid vehicles, or PHEVs, which rely mainly on electric motors and use ICE only as a backup, was a mixed bag, Consumer Reports said. They were found to have 146% more problems than ICE vehicles. 
Some PHEVs, including Toyota&#8217;s RAV4 Prime and Kia Sportage, performed above average.
<a href="https://www.benzinga.com/news/23/09/34453211/global-ev-market-share-reaches-15-in-2023-top-players-vehicles-and-companies-dominating-sector">EV sedans and SUVs</a> didn&#8217;t fare very well, with average reliability scores of 44 and 43, respectively. The metric was at a worse 30 for electric pickup trucks. Pureplay electrified vehicles had problems, primarily with EV drive system motors, charging systems, and batteries.
The KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) ended Friday&#8217;s session down 0.55% at $25.37, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36275115/tesla-locked-in-a-wwe-like-standoff-in-scandinavia-says-analyst-why-this-swedish-un">Tesla Locked In a &#8216;WWE-Like&#8217; Standoff In Scandinavia, Says Analyst: Why This Swedish Union Battle Is Important For The EV Giant</a>

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Not Tesla Or Ford: This Foreign Giant Is Most Trusted Auto Brand Of 2023 As US Automakers Trail Behind Asian, European Rivals

Mazda Motor Corp.&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAY#OTC">MZDAY</a>) global CEO, Masahiro Moro, expects that electric vehicles (EVs) will make up between a quarter and 40% of the automaker&#8217;s global sales by the end of the decade.
What Happened: In a recent <a href="https://www.autonews.com/talk-top/mazda-ceo-masahiro-moro-intentional-follower-evs">interview</a> with Automotive News, Moro, who took over as global CEO of Mazda Motor Corp. this past June, discussed the company&#8217;s future direction. He attributes the brand&#8217;s current positive trajectory, with record-breaking U.S. sales, to his previous position as the head of Mazda&#8217;s North American operations where he promoted larger, platform-specific vehicles that are now driving growth.
On the trajectory of EV sales in the future, Moro said, &#8220;Everyone is scaling back investment or pushing back timelines.&#8221;
The next hurdle for Moro is to oversee the launch of Mazda&#8217;s first dedicated electric vehicle platform and the transition towards 2030. This shift is expected to result in electric cars accounting for up to 40% of Mazda&#8217;s global sales.
Moro also elaborated on Mazda&#8217;s strategy to collaborate closely with its partner, Toyota, on software and electrical infrastructures. The aim is to create a smarter, more socially connected battery EV, with software playing a key role. Almost 90% of the software will be similar to Toyota&#8217;s, including the operating system and hardware.
Moro said on the collaboration, &#8220;It&#8217;s much more efficient because the software is going to the base for many products going forward.&#8221; He said, &#8220;There are many things an individual company can&#8217;t do alone.&#8221;
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36148673/tesla-bull-gary-black-explains-why-rivian-will-likely-be-biggest-beneficiary-of-cyb?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Bull Gary Black Explains Why Rivian Will Likely Be Biggest Beneficiary Of Cybertruck Delivery Launch</a>
He also provided some insight on Mazda&#8217;s new EV platform, expected to debut between 2025 and 2027. The details of the platform are still being fine-tuned in response to evolving regulations and policies. Moro also pointed to the financial unpredictability surrounding the demand for electric vehicles, suggesting that Mazda might initially take a more conservative approach to scaling up.
According to the CEO, Mazda plans to design and manufacture the EV in Japan during Phase 2, from 2025-2027. He also expressed interest in initiating North American production in Phase 3, from 2028 onwards. By 2030, Mazda intends to have seven or eight battery EV models worldwide.
Why It Matters: Mazda&#8217;s announcement comes as many Americans remain hesitant about transitioning to electric vehicles, as highlighted in a recent <a href="https://www.benzinga.com/news/23/10/35215482/most-americans-still-wary-of-evs-and-prefer-toyota-over-tesla-if-they-switched-new-poll">survey</a> conducted by Yahoo Finance and Ipsos.
Notably, other major players in the EV market, such as Tesla Inc have experienced fluctuations in sales, as seen with Tesla&#8217;s <a href="https://www.benzinga.com/government/23/12/36068781/teslas-china-sales-plunge-can-musks-electric-giant-rebound-amid-fierce-competition">China sales drop</a> in November.
Similarly, General Motors and Ford Motors have dealt with their share of <a href="https://www.benzinga.com/23/07/33286285/gm-and-ford-are-having-ev-difficulties">EV difficulties</a>, including supply chain disruptions and weakened demand.
Despite these challenges, Mazda&#8217;s aggressive push towards EVs could potentially position the company as a strong contender in the growing global EV market.
Photo Courtesy: Chatchai Somwat On Shutterstock.com
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/23/12/36148940/rivian-trims-battery-team-by-nearly-8-to-focus-on-r2-platform-stays-silent-on-reported-layoff-of-lea?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Rivian Axes Nearly 8% Of Battery Team To Focus On R2 Platform</a>
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 Engineered by Benzinga Neuro, Edited by 
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Mazda CEO Foresees Electric Vehicles Making Up To 40% Of Global Sales By 2030

The United Auto Workers union has initiated a campaign to unionize workers at 13 non-union automakers <a href="https://www.benzinga.com/topic/uaw">across the United States.</a>
This initiative, announced on Wednesday, aims to bring nearly 150,000 autoworkers from major companies including BMW (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bmwyy#OTC">BMWYY</a>), Honda (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>), Hyundai (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>), Lucid (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lcid#NASDAQ">LCID</a>), Mazda (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mzday#OTC">MZDAY</a>), Mercedes-Benz (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mbgyy#OTC">MBGYY</a>), Nissan (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsany#OTC">NSANY</a>), Rivian (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rivn#NASDAQ">RIVN</a>), Subaru (OTC: <a class="ticker" href="https://www.benzinga.com/stock/fujhy#OTC">FUJHY</a>), Tesla (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>), Toyota (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>), Volkswagen (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vwapy#OTC">VWAPY</a>)&nbsp;and Volvo&nbsp;under its wing.
The campaign involves workers signing electronic support cards for union efforts, a step that could pave the way for the unionization of U.S. factories belonging to these automotive manufacturers,&nbsp;CNBC <a href="https://www.cnbc.com/2023/11/29/uaw-launches-union-campaigns-at-tesla-12-others.html">reports</a>.
The UAW clarified that organizing every plant or automaker participating in the campaign is not a certainty. A formal vote in favor of UAW representation would be required by the workers.
UAW President Shawn Fain, following the ratification of record contracts with General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>), Ford Motor Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) and Stellantis NV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>) that included significant hourly pay raises and other benefits, has expressed the union&#39;s ambition to expand its influence.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/23/10/35315710/uaw-president-says-tesla-is-not-the-enemy-in-auto-strikes-theyre-the-uaw-members-of-the-future">UAW President Says Tesla Is Not The Enemy In Auto Strikes: &#39;They&#39;re The UAW Members Of The Future&#39;</a>
Fain&#39;s vision extends beyond the traditional &quot;Big Three&quot; Detroit automakers, aiming to encompass a broader range of companies by 2028. This expansion strategy marks a departure from the UAW&#39;s conventional approach of focusing on one company at a time.
According to CNBC, the UAW&#39;s membership has seen a dramatic decline, dropping from about 700,000 members in 2001 to 383,000 at the start of this year, a stark contrast to its peak of 1.5 million in 1979.
Despite this, the union&#39;s recent success in securing favorable contracts with the Detroit automakers has prompted non-union companies like Hyundai, Toyota, and Honda to raise worker wages, a phenomenon Fain refers to as the &quot;UAW bump.&quot;
The UAW&#39;s history with organizing non-Detroit automakers has been challenging. Efforts to unionize the plants of foreign-based automakers in the U.S., such as Volkswagen and Nissan, have previously fallen short. The union has also made attempts to organize Tesla&#39;s Fremont plant in California, but with limited success.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/23/11/35995087/tesla-strike-leader-in-sweden-warns-of-traditional-business-model-shake-up-but-assures-union-has-fun">Tesla Strike Leader In Sweden Warns Of Traditional Business Model Shake-Up, But Assures Union Has Funds To Protest For &#39;Long, Long Time&#39;</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock.

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From Tesla To Toyota: UAW Launches Ambitious Campaign To Unionize Top Auto Players

Japanese <a href="https://www.benzinga.com/news/23/07/33121305/is-toyota-ready-to-take-on-tesla-for-electric-vehicle-lead-i-dont-know-if-love-can-beat-tesla">automaker Toyota Motor Corp</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) is leading customer satisfaction in the U.S. auto market, as revealed by a recent market report.
Customer Satisfaction Ranking: Toyota leads mass-market vehicles and the industry overall with a score of 84 out of 100, as per the American Customer Satisfaction Index&#8216;s (ACSI) latest automobile study. 
Other leading Japanese auto players like Subaru, Honda Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>), and Mazda Motor Corp (OTCPK: MZDAY) are also not far behind. 
Chrysler ranks lowest in customer satisfaction with a dismal ACSI score of 71. 
Among luxury automakers, EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is tied with Lexus — a brand owned by Toyota — with a score of 83, followed by General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) Cadillac. German players Audi, BMW, and Mercedes-Benz are tied for the third position. 
See Also: <a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" target="_blank" rel="noreferrer noopener">Everything You Need to Know About Tesla Stock</a>
The EV Fad: Electric and hybrid vehicle drivers are more satisfied as compared to gas vehicle drivers, the report noted. 
However, EV adoption continues to be held back by the lack of public chargers, customer expectations for reliability, and higher complaint rates. Hybrid drivers are relatively happier in terms of quality, value, and dependability, the report added. 
"EVs must improve before automakers can justify the price differential for a broader audience. Early EV adopters find these vehicles perform well relative to their expectations, yet ACSI data show they are only superior in technology and warranties. That is not enough to convince more consumers to leave gas in the past." said Associate Professor of Marketing at Michigan State University and Director of Research Emeritus at the ACSI Forrest Morgeson. 
The study is based on interviews with about 9,000 customers between July 2022 and June 2023. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33997598/future-of-food-delivery-cathie-woods-ark-investment-sees-drones-as-game-changers">Future Of Food Delivery: Cathie Wood&#8217;s Ark Investment Sees Drones As Game-Changers</a>
Photo by <a href="https://www.shutterstock.com/g/Ormalternative" target="_blank" rel="noreferrer noopener">Ormalternative</a> on Shutterstock

Tesla Ties With Lexus In US Auto Customer Satisfaction But Remains Behind This Foreign Rival

Panasonic Holdings Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/pcrfy#OTC">PCRFY</a>)&nbsp;Panasonic Energy, for the first time, emphasized the need to build around four&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29474807/tesla-supplier-to-commence-kansas-ev-battery-plant-construction-in-november" 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">more factories to</a>&nbsp;sharply boost the annual capacity of batteries for electric vehicles by 2031.
Panasonic Energy head of technology Shoichiro Watanabe also signaled an openness to potential joint ventures for EV battery production - including with automaker&nbsp;Mazda Motor Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mzday#OTC">MZDAY</a>), Reuters&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/autos-transportation/panasonic-needs-four-more-ev-battery-plants-meet-capacity-target-executive-says-2023-07-03/" 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">cites</a>&nbsp;an interview.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31660743/stellantis-bmw-eye-partnership-with-teslas-japanese-supplier-to-establish-ev-plants" 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">Stellantis, BMW Eye Partnership With Tesla&#39;s Japanese Supplier To Establish EV Plants</a>
The 200 GWh capacity is the minimum necessary to be a significant player in the space, Watanabe said.
The&nbsp;Tesla, Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) supplier executive&#39;s remark could also fuel expectations of more investment by Japanese companies into the U.S. after Washington and Tokyo struck a deal in March giving Japanese manufacturers more comprehensive access to U.S. electric vehicle (EV) tax credits.
Panasonic Energy had shared plans to&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/01/30310986/panasonic-eyes-375m-investment-in-china-as-others-try-to-minimize-exposure" 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">boost annual EV</a>&nbsp;capacity to 200-gigawatt hours (GWh) by early 2031, around four times greater than its capacity in March this year.&nbsp;
It has a plant in Nevada and is building a second one in Kansas that, once operational, will likely bring annual capacity to 80 GWh.
Price Action:&nbsp;PCRFY shares closed higher by 2.17% at $12.24 on Friday.

PCRFY

Panasonic Energy Eyes Expansion With Four New Factories For EV Battery Manufacturing: Report

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32941114/jack-mas-ant-group-explores-chatgpt-style-services-challenges-baidu-with-investment-in-ai" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Jack Ma&#39;s Ant Group Explores ChatGPT-Style Services. Challenges Baidu with Investment in AI</a>
<ul>
<li>Alibaba Group Holding Limited&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) fintech affiliate Ant Group Co is developing large-language model technology to power ChatGPT-style services.</li>
<li>The Jack Ma-backed affiliate&#39;s &quot;Zhen Yi&quot; project involves a dedicated unit and will deploy in-house research.</li>
<li>Ant invested nearly 20.5 billion yuan ($2.8 billion) in R&amp;D in 2023, doubling the company&#39;s annual spending on such efforts versus 2019.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32943174/uber-rival-bolt-taps-ai-robots-for-food-delivery" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Uber Rival Bolt Taps AI Robots For Food Delivery</a>
<ul>
<li>Uber Technologies Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uber#NYSE">UBER</a>) rival&nbsp;Bolt Technology OU&nbsp;will begin using robots to deliver customers&#39; food orders under a new partnership.</li>
<li>In 2023, the deal with Starship Technologies, created by two Skype cofounders, will see &quot;thousands&quot; of robots handling Bolt Food orders across multiple countries.</li>
<li>The financial terms of the deal remain undisclosed.</li>
</ul>
&nbsp;
Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32941885/youtube-takes-on-tiktok-in-south-korea-preps-up-for-shopping-channel-debut-amid-competition" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">YouTube Takes on TikTok in South Korea, Preps Up For Shopping Channel Debut Amid Competition</a>
<ul>
<li>Alphabet Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>)&nbsp;YouTube&nbsp;looks to launch its first official shopping channel for live commerce in South Korea on June 30, marking its official shopping channel debut in any country.</li>
<li>The new channel will start as a 90-day project and operate in Korean.&nbsp;</li>
<li>Initially, it will provide a live-commerce platform to companies and plans to livestream shopping content from about 30 brands.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32941321/cisco-launches-power-efficient-networking-chips-takes-on-broadcom-and-marvell-in-ai-arena" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Cisco Launches Power-Efficient Networking Chips, Takes on Broadcom and Marvell in AI Arena</a>
<ul>
<li>Cisco Systems Inc(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csco#NASDAQ">CSCO</a>) on Tuesday launched networking chips for AI supercomputers that would compete with offerings from&nbsp;Broadcom Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgo#NASDAQ">AVGO</a>) and&nbsp;Marvell Technology Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrvl#NASDAQ">MRVL</a>).</li>
<li>Five of the six major cloud providers are testing chips from its SiliconOne series.</li>
<li>Cisco said the chips could execute AI and machine learning tasks with 40% fewer switches and less lag while being more power efficient.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32942907/chinese-regulators-reprimand-starbucks-and-shake-shack-over-privacy-breach-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Chinese Regulators Reprimand Starbucks And Shake Shack Over Privacy Breach</a>
<ul>
<li>Regulators in the Chinese financial hub Shanghai has reportedly summoned companies like&nbsp;Starbucks Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbux#NASDAQ">SBUX</a>) and&nbsp;Shake Shack Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shak#NYSE">SHAK</a>) for privacy breach.</li>
<li>The cyberspace regulator of Shanghai City said the companies were called out for collecting personal information excessively.</li>
<li>The report noted that of the three companies that were asked to mend the ways, Shake Shack and another have made basic improvements to address the issues.</li>
</ul>
&nbsp;
Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32943281/dollar-tree-targets-achieving-10-eps-in-2026-sees-future-cash-flow-for-capital-allocation" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Dollar Tree Targets Achieving $10+ EPS In 2026, Sees Future Cash Flow For Capital Allocation</a>
<ul>
<li>Dollar Tree Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dltr#NASDAQ">DLTR</a>) forecasts an EPS of $10 or more in the fiscal year 2026, expanding its footprint with significant available cash for capital allocation.</li>
<li>&quot;We have compelling plans in place to deliver expanded value assortment across multiple price points, enhance store standards for our customers, and add new technology and capabilities to accelerate progress with our supply chain and people development,&quot; said Chairman &amp; CEO&nbsp;Rick Dreiling.</li>
<li>Dollar Tree operated 16,419 stores across 48 states and five Canadian provinces as of April 29, 2023.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/06/32943288/gsks-recently-approved-vaccine-offers-long-term-protection-against-rsv-in-older-adults-new-data-r" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GSK&#39;s Recently Approved Vaccine Offers Long-Term Protection Against RSV in Older Adults, New Data Reveals</a>
<ul>
<li>GSK plc&nbsp;(NYSE:&nbsp;GSK) announced new data from the AReSVi-006 phase 3 trial evaluating the efficacy of a single dose of&nbsp;Arexvy&nbsp;(respiratory syncytial virus vaccine, adjuvanted) against lower respiratory tract disease (LRTD) in adults aged 60 years and older over multiple RSV seasons and after annual revaccination.&nbsp;</li>
<li>The results show that one dose of the vaccine is efficacious against RSV-LRTD and severe LRTD over two full RSV seasons.&nbsp;</li>
<li>A similar pattern of vaccine efficacy over two seasons was also observed in adults with underlying comorbidities and advancing age.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/06/32944245/fda-approves-new-class-of-oral-medicines-for-children-with-type-2-diabetes" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FDA Approves New Class of Oral Medicines for Children with Type 2 Diabetes</a>
<ul>
<li>On Tuesday, the FDA approved Jardiance (empagliflozin) and Synjardy (empagliflozin and metformin hydrochloride) as additions to diet and exercise to improve blood sugar control in children ten years and older with type 2 diabetes.&nbsp;</li>
<li>These approvals provide a new class of medicines taken by mouth to treat pediatric type 2 diabetes.&nbsp;</li>
<li>The FDA granted approvals of Jardiance and Synjardy to&nbsp;Boehringer Ingelheim.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32943278/panasonic-energy-mazda-discuss-battery-supply-partnership" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Panasonic Energy, Mazda Discuss Battery Supply Partnership</a>
<ul>
<li>Panasonic Holdings Corporation&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/pcrfy#OTC">PCRFY</a>) said&nbsp;Panasonic Energy&nbsp;and&nbsp;Mazda Motor Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mzday#OTC">MZDAY</a>) would engage in talks for a battery supply partnership.</li>
<li>Both parties look to leverage the demand for battery EVs and automotive batteries in a rapidly expanding market.</li>
<li>The companies will commence discussions toward Panasonic Energy supplying Mazda with automotive cylindrical lithium-ion batteries manufactured at Panasonic Energy&#39;s plants in Japan and North America.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32945049/mastercards-green-initiative-introducing-a-global-strategy-for-payment-card-recycling" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Mastercard&#39;s Green Initiative: Introducing a Global Strategy for Payment Card Recycling</a>
<ul>
<li>Mastercard Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ma#NYSE">MA</a>) announced the establishment of a global framework for card recycling, including collection, transportation, and recycling.</li>
<li>The company is asking its global network of partners to help put this in place, beginning in the United Kingdom with&nbsp;HSBC Holdings plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hsbc#NYSE">HSBC</a>), which recently enabled card recycling at select branches.</li>
<li>Under this strategy, Cardholders can drop off expired payment cards into secure, dedicated collection boxes within bank branches.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32942231/rtx-secures-1-15b-contract-from-us-air-force-collins-aerospace-inks-mro-agreement-with-envoy-air" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">RTX Secures $1.15B Contract From US Air Force; Collins Aerospace Inks MRO Agreement With Envoy Air</a>
<ul>
<li>Raytheon Technologies Corp&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>) Collins Aerospace business has signed a FlightSense flight-hour contract with Envoy Air, an&nbsp;American Airlines Group Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>) subsidiary.</li>
<li>Collins will provide maintenance, repair, and overhaul (MRO) services for various systems across Envoy&#39;s fleet of 128 Embraer E175 aircraft under the multi-year agreement. The financial terms were not disclosed.</li>
<li>The Collins products covered by the contract are electric power, fire protection, and sensors.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32943625/piaggio-unveils-vespas-disney-mickey-mouse-edition-tribute-to-disneys-100th-anniversary" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Piaggio Unveils Vespa&#39;s Disney Mickey Mouse Edition: Tribute to Disney&#39;s 100th Anniversary</a>
<ul>
<li>Piaggio &amp; C. SpA&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/pggcy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PGGCY</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/piagf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PIAGF</a>) unveiled Vespa&#39;s Disney Mickey Mouse Edition&nbsp;in collaboration with&nbsp;Walt Disney Co&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/dis#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">DIS</a>).</li>
<li>The limited edition model is launched to celebrate Disney&#39;s 100th anniversary and has a matching helmet.</li>
<li>Per the partnership, the company will launch Vespa Primavera 50cc, 125cc, and 150cc models in black, red, white, and yellow color combinations, representing Mickey Mouse.</li>
</ul>

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Jack Ma's Ant Group Explores ChatGPT-Style Services, Cisco Launches Power-Efficient AI Chips, YouTube Preps For Shopping Channel Debut In South Korea: Today's Top Stories

Panasonic Holdings Corporation&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/pcrfy#OTC">PCRFY</a>) said&nbsp;Panasonic Energy&nbsp;and&nbsp;Mazda Motor Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mzday#OTC">MZDAY</a>) will engage in&nbsp;<a class="editor-rtfLink" href="https://na.panasonic.com/us/news/panasonic-energy-and-mazda-enter-discussions-establish-medium-long-term-partnership-supply" 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">talks&nbsp;</a>for a battery supply partnership.
Both parties look to leverage the demand for battery EVs and automotive batteries in a rapidly expanding market.
The companies will commence discussions toward Panasonic Energy supplying Mazda with automotive cylindrical lithium-ion batteries manufactured at Panasonic Energy&rsquo;s plants in Japan and North America.
Mazda will look to install batteries procured from Panasonic Energy in battery EVs scheduled to be launched in the latter half of the 2020 decade.&nbsp;
&ldquo;As the automotive industry rapidly advances electrification and is leading in this technology, collaboration with Mazda will be a major step toward the achievement of our mission of realizing a society in which the pursuit of happiness and a sustainable environment are harmonized,&rdquo; said Panasonic Energy CEO Kazuo Tadanobu.
As part of electrification initiatives, Mazda is working with its partners in three phases to respond to changes in regulatory trends, consumer needs, and other areas.
Price Action: PCRFY shares closed lower by 1.11% at $11.63 on Tuesday.

Panasonic Energy, Mazda Discuss Battery Supply Partnership

U.S.-based Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Chinese EV maker BYD Co Ltd (OTCPK: BYDDY) (OTCPK: BYDDF) are leading the transition to electric vehicles while Japanese automakers lag, as per a recent report by a nonprofit organization. 
What Happened: As per The International Council on Clean Transportation (ICCT)&#8217;s global automaker rating 2022 report published on Wednesday, Tesla and BYD are the leaders of the ZEV transition with Tesla a few steps ahead of its Chinese rival. 
Japanese automakers Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), Honda Motor Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>), Nissan Motor Co Ltd (OTCPK: NSANY), Mazda Motor Corp (OTCPK: MZDAY), Suzuki Motor Corporation (OTCPK: SZKMF) and India-headquartered Tata Motors have been named laggards in the report. 
Other U.S., German, Chinese and Korean automakers including Volkswagen AG (OTCPK: VWAGY), Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), Geely Automobile Holdings Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYF#OTC">GELYF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYY#OTC">GELYY</a>), Hyundai Motor Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) and Kia Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KIMTF#OTC">KIMTF</a>) are, in the meantime, transitioning to EVs, the report added. 
For the report, the organization evaluated 20 manufacturers across the world based on their light-duty sales in 2022, actions and zero-emission vehicle strategies. 
Why It Matters: Tesla <a href="https://www.benzinga.com/news/23/04/31624919/heres-how-many-vehicles-tesla-has-delivered-and-produced-in-each-quarter-since-2019">delivered 422,875 cars</a> in the first quarter while Warren Buffett-backed BYD delivered 552,076 units- 264,647 pure EVs and 283,270 PHEVs.
<a href="https://www.benzinga.com/news/23/05/32524769/japan-is-no-longer-the-worlds-biggest-car-exporter">China also dethroned Japan</a> to become the world&#8217;s largest exporter of cars at the end of the quarter owing to the growing popularity of electric vehicles. While China exported 1.07 million vehicles, Japan exported 954,185 vehicles, followed by Germany. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read More: <a href="https://www.benzinga.com/news/23/06/32663682/tesla-roadster-reservations-are-open-again-how-to-book-yours">Tesla Roadster Reservations Are Open Again: How To Book Yours</a>

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Tesla And Buffett-Backed BYD Lead EV Revolution, Leaving Japanese Automakers In The Dust: Report

Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) has reversed course on AM radio in their vehicles. Under pressure from lawmakers, the company has decided to include AM radio in all 2024 Ford and Lincoln Motor models.
What Happened: In a tweet, CEO Jim Farley announced the company's decision to reverse from their earlier stance of launching vehicles without AM radio capabilities.
Instead, he said, every 2024 Ford and Lincoln vehicle will possess the ability to tune in to AM radio.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best Electric Vehicle Stocks</a>
Farley said the company arrived at the decision "after speaking with policy leaders about the importance of AM broadcast radio as a part of the emergency alert system."
"For any owners of Ford EVs without AM broadcast capability, we'll offer a software update," he added.
Automakers perceive AM radio as outdated and believe that alternative technologies such as internet streaming, HD radio on FM bands, and various apps can compensate for its absence in vehicles.
However, Farley has expressed his commitment to exploring these new technologies. He said, "Customers can currently listen to AM radio content in a variety of ways in our vehicles – including via streaming – and we will continue to innovate to deliver even better in-vehicle entertainment and emergency notification options in the future."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">After speaking with policy leaders about the importance of AM broadcast radio as a part of the emergency alert system, we&#39;ve decided to include it on all 2024 <a href="https://twitter.com/Ford?ref_src=twsrc%5Etfw">@Ford</a> &amp; <a href="https://twitter.com/LincolnMotorCo?ref_src=twsrc%5Etfw">@LincolnMotorCo</a> vehicles. For any owners of Ford EVs without AM broadcast capability, we'll offer a software…
&mdash; Jim Farley (@jimfarley98) <a href="https://twitter.com/jimfarley98/status/1661024295110463491?ref_src=twsrc%5Etfw">May 23, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Automakers have been excluding AM radio from their electric vehicles due to concerns about potential electromagnetic interference with the EV powertrain.
Apart from Ford, several prominent automakers, such as Elon Musk-led Tesla, BWW, Mazda, Rivian, Volkswagen and Volvo have already removed AM radios from their vehicle models.
As a result, <a href="https://www.benzinga.com/government/23/05/32482693/why-us-lawmakers-want-elon-musks-tesla-other-ev-makers-to-preserve-am-radio-in-cars">a bill was introduced</a> by a bipartisan coalition of federal lawmakers last week, urging the National Highway Traffic Safety Administration to mandate the inclusion of AM radio in new vehicles without any extra charges. They have argued that AM radio has, in the past, played a significant role in transmitting essential information during emergencies, specifically to rural regions.
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/mid-cap/23/05/32516940/ford-is-shifting-gears-ambitious-plans-for-ev-production">Ford Is Shifting Gears: Ambitious Plans For EV Production</a>

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Ford Applies Reverse Gear Under Pressure — AM Radio Will Return To 2024 Models

A newly proposed bill seeks to enforce the retention of AM radios in new-age vehicles, including electric vehicles made by big names like Elon Musk-led Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). Titled the &#8216;AM for Every Vehicle Act,&#8217; the bill aims to address concerns about the ability to communicate with the public during emergencies.
What Happened: Sen.&nbsp;Ted Cruz&nbsp;(R-TX)and Sen.&nbsp;Ed Markey&nbsp;(D-MA) introduced the bill, highlighting the importance of AM broadcast radio for emergency communication. The proposed legislation would direct the&nbsp;National Highway Traffic Safety Administration&nbsp;to ensure that all vehicles are equipped with AM radios at no additional cost.
According to the National Association of Broadcasters, AM radio stations have a long reach and can be accessed by anyone with a simple radio device, which functions even during power outages, natural disasters or other emergencies, providing critical updates and information to the public.
See Also: <a href="https://www.benzinga.com/general/entertainment/23/05/32313939/apple-carplay-vs-android-auto-whats-on-tesla-ford-rivian-and-gms-dashboards" target="_blank" rel="noreferrer noopener">Apple CarPlay Vs Android Auto: What&#8217;s On Tesla, Ford, Rivian And GM&#8217;s Dashboards</a>
Fine Print: Under the act, automakers that choose to exclude AM radios in their vehicles would be required to disclose this to customers prior to NHTSA regulation. Additionally, the Government Accountability Office will conduct a study to evaluate the effectiveness of alternative communication systems as potential replacements for AM radios.
Why It Matters: EV makers have been eliminating AM radios from their vehicles, citing interference with electric powertrains. Several prominent automakers, including Bayerische Motoren Werke AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), Mazda Motor Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MZDAY#OTC">MZDAY</a>), Polestar Automotive Holding UK PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>), Rivian Automotive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), Tesla, Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) and Volvo AB (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VLVLY#OTC">VLVLY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VOLVF#OTC">VOLVF</a>) have already removed AM radios from their vehicle models.
"I would think that if Elon Musk has enough money to buy Twitter and send rockets to space, he can afford to include AM radio in his Teslas. Instead, Elon Musk and Tesla and other car manufacturers are putting public safety and emergency response at risk," Rep.&nbsp;Josh Gottheimer&nbsp;(D-NJ), a signatory on the bill, said.
&#8220;Congress should act swiftly to pass this bill so Americans retain access to news, music, talk, and emergency alerts on the public airwaves,&#8221; Cruz said.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/23/05/32480648/elon-musk-says-he-will-personally-review-teslas-cobalt-supply-chain-audit-to-extend-consumer-trust">Elon Musk Says He Will Personally Review Tesla&#8217;s Cobalt Supply Chain Audit To Extend Consumer Trust</a>

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