As part of the turnaround plan, Marelli is seeking the cancellation of about 450 billion yen ($3.5 billion) in debt, out of obligations of about 1.13 trillion yen, Bloomberg reported.
Marelli is seeking the cancellation of about 450 billion yen ($3.3 billion) in debt out of total obligations of about 1.13 trillion yen, as part of a wider restructuring, sources say.
Honda blamed delays in receiving parts and logistics due to COVID-19 and semiconductor shortages for the reduced output at two domestic plants.
The supplier, previously owned by Fiat Chrysler Automobiles, carried at least $9.5 billion in total debt as of September, sources told Bloomberg. Marelli is the world's 18th largest auto supplier.