Automotive

Parks and Rec and OEMs

TL; DR: Honda wants part of that bonus back, Rivian wants all of its EVs back (but only for a moment), and Nissan may want some of itself back from Renault.
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Parks and Rec and OEMs

Whats better than relevant and easy to skim news in your inbox? Relevant and easy to skim news WITH memes. Enjoy!  

Honda mistake meme

Honda's Ohio plant let workers know last week that their bonus was too big. The leaders of the plant gave the workers the option of paying the company back or having the overpaid amount deducted from their paychecks until they were squared.

One affected worker placed the requested repayment at "hundreds of dollars."

Rivian's shares took a 10% hit after the EV startup announced a steering defect recall on more than 12K of its vehicles. Twelve thousand vehicles may seem like a drop in the bucket to a brand like Ford or Toyota, but for Rivian, it is nearly every single vehicle they have produced.

Only about 1% of recalled vehicles will be affected by the issue but they will all be checked. Investors are shook.

the alliance meme

Nissan and Renault are hanging out without Mitsubishi, but we won't tell. Two members of the three-company alliance are talking about the future of their 23-year partnership. The balancing of control has become more important following the 2018 arrest and eventual flight of Carlos Ghosn, who previously held things togehter as chairmen.

Currently, Nissan owns a 15% stake in its French partner, Renault, but has no voting rights. On the other hand, Renault has a 43% stake in its Japan-based ally, Nissan.

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