SEOUL — Hyundai Motor Group affiliate Kia aims to double hybrid sales by 2028, releasing hybrid versions of existing nine major models as the automaker reconsiders its focus on the competitive electric vehicle market. At an investor day event on April 5, Kia CEO Song Ho-sung outlined the company’s shift in plans, sparked by slowing EV demand. Go to… Continue reading Kia looks to double hybrid sales by 2028 amid EV headwinds
Author: Nikki News Feed
Tesla price cuts in China spark more EV discounts
SHANGHAI — Tesla and Chinese electric vehicle startup Li Auto have announced the latest discounts for EVs in China as growing competition tests automakers’ endurance. Li Auto’s discounts came on the heels of Tesla’s weekend move to cut prices for all four EV models sold in mainland China. Go to Source
VinFast share plunge hits China’s VW-backed battery partner Gotion
HONG KONG — Gotion High-tech, a major Chinese electric vehicle battery supplier, is taking a beating from the falling share price of Nasdaq-listed Vietnamese EV maker VinFast Auto. Gotion, in which Volkswagen holds 24.68% of outstanding shares, disclosed over the weekend that it had recorded an investment loss of 187.3 million yuan ($26.4 million) on… Continue reading VinFast share plunge hits China’s VW-backed battery partner Gotion
Japan, Europe to link industrial data platforms for EV battery materials
FRANKFURT — Japan and Europe will cooperate in recycling EV batteries by establishing a system to share information on the extraction sites and suppliers of minerals used to make them, Nikkei has learned. The system, to be launched by 2025, is to counter China, the dominant supplier of rare metals such as lithium. The tracking… Continue reading Japan, Europe to link industrial data platforms for EV battery materials
Tesla cuts prices nearly $2,000 in China, in line with U.S. cuts
BEIJING (Reuters) — Tesla has cut prices in China by nearly $2,000 across its line-up in China, in line with its price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs). Elon Musk’s EV maker cut the starting price of the revamped Model 3 by 14,000 yuan ($1,930)… Continue reading Tesla cuts prices nearly $2,000 in China, in line with U.S. cuts
China accelerates purge at state-owned companies to fight graft
BEIJING — China has replaced more than three times as many top executives at state-owned companies so far this year as it did in the same period in 2023, signaling a growing push to stamp out corruption at what it considers some of the country’s most critical businesses. While inspecting a facility of China Aerospace… Continue reading China accelerates purge at state-owned companies to fight graft
UAW clinches watershed union victory at Volkswagen Tennessee factory
CHATTANOOGA, Tennessee (Reuters) — Workers at Volkswagen’s Tennessee plant have voted to join the United Auto Workers, in a seismic victory for the union as it drives beyond its Detroit base into the U.S. South and West. A majority of eligible workers cast ballots in favor of the union, with the final tally on Friday… Continue reading UAW clinches watershed union victory at Volkswagen Tennessee factory
China’s CATL to recycle EV batteries with Volvo Car
GUANGZHOU — China’s Contemporary Amperex Technology Co. Ltd. (CATL), the world’s top supplier of electric-vehicle batteries, will partner with Volvo Car Group to recycle them for industrially critical minerals. Under a deal signed Tuesday, old batteries used in Volvo Car vehicles in China will be collected and processed to extract such metals as nickel, cobalt… Continue reading China’s CATL to recycle EV batteries with Volvo Car
China’s flying cars ready for liftoff with EV technology
GUANGZHOU — XPeng, EHang and other Chinese companies are commercializing flying cars this year, tapping the country’s advantages in electric car technologies to claim a large share of the emerging global market. XPeng AeroHT, a subsidiary of the electric vehicle startup, aims to sell a dual-mode electric vertical take-off and landing (eVTOL) vehicle, which can drive on… Continue reading China’s flying cars ready for liftoff with EV technology
Japan’s small EV battery suppliers feel the heat in race for scale
TOKYO — Smaller companies play a big role in Japan’s electric vehicle battery supply chain, indirectly supporting the likes of Toyota Motor and Tesla. But many are struggling to keep pace with the speed and scale of investment needed as EV demand booms, threatening to create bottlenecks in an industry that Tokyo is keen to… Continue reading Japan’s small EV battery suppliers feel the heat in race for scale