Japan's Stanley Electric Inks Alliance Deal With Honda

Honda Motor Co (NYSE:HMC) and Japanese electric light manufacturer Stanley Electric have inked a capital and business alliance.
The companies will work to decarbonize the supply chain, consolidate parts and improve product development efficiency, Reuters reported.
Also Read: Toyota, Honda & Nissan Score Low In Greenpeace Decarbonization Ranking
Under the terms of the agreement, Stanley Electric will transfer 7.5 million of its shares to Honda for ¥2,534 ($17.57) per share.
Price Action: HMC shares closed lower by 3.02% at $22.81 on Monday.
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