Honda Extends China Joint Venture to 2038 as Porsche Plans Up to 6,000 Global Job Cuts

Honda Motor Co. has renewed its 12‑year joint venture with Guangzhou Automobile Group (GAC), extending the partnership in China until 2038. The move signals Honda’s commitment to the world’s largest auto market despite recent sales declines and increasing competition from domestic EV makers.

Porsche AG, facing a 93% drop in operating profit and a 15% sales decline in the first half of 2026, is preparing a cost‑cutting program that could eliminate up to 6,000 jobs worldwide and possibly reduce salaries. The plan, presented by CEO Michael Leiters, targets especially the R&D division as the firm pivots toward electric‑vehicle development and deeper collaboration with Audi.