NAGOYA — Toyota Motor’s honorary chairman and former president Shoichiro Toyoda died of heart failure on Tuesday, the Japanese automaker announced. He was 97 years old. The son of Toyota’s founder, Shoichiro Toyoda expanded the Japanese company into a leading global automaker. Go to Source
Author: Nikki News Feed
Ford to build battery plant in Michigan, tapping tech of China’s CATL
ROMULUS, U.S./WASHINGTON (Reuters) — Ford Motor on Monday announced plans to invest $3.5 billion to build an electric-vehicle battery plant in Michigan, betting that making the batteries in the U.S. will help it and Chinese partner CATL attract U.S. customers to embrace a lower-cost technology pioneered in China. Ford’s plan to build the battery plant… Continue reading Ford to build battery plant in Michigan, tapping tech of China’s CATL
Nidec pushes China expansion with new R&D hub for EV motors
KYOTO, Japan/DALIAN, China — Japanese motor maker Nidec will begin full operation at a new research and development center in China next month, a site that reflects the company’s ambition for the world’s largest electric vehicle market. Located around one hour’s drive from the city center of northeastern China’s Dalian, the compound also includes production facilities,… Continue reading Nidec pushes China expansion with new R&D hub for EV motors
Toyota to develop new Lexus EV for 2026: incoming president
TOKYO — Japanese automaker Toyota plans to develop a “next-generation” all-electric Lexus model by 2026 to meet rising demand for such luxury cars, according to the company’s incoming president. “We aim to develop a next-generation battery EV in the Lexus brand in which everything from batteries and platforms to the way the car is built… Continue reading Toyota to develop new Lexus EV for 2026: incoming president
Nissan and Renault to invest $600m to make new models in India
TOKYO — Japanese carmaker Nissan Motor and French counterpart Renault on Monday unveiled plans to invest $600 million to develop new models in India, as they push to accelerate their business in one of the world’s fastest-growing auto markets. The companies — which last week announced a revamp of their partnership amid fierce competition in areas… Continue reading Nissan and Renault to invest $600m to make new models in India
China’s Geely raises $750m for Zeekr EV brand
SHANGHAI — The EV brand of Chinese automaker Geely on Monday said it has raised $750 million in a new funding round that boosts its value to $13 billion, with the world’s biggest lithium ion battery maker among the investors. Zeekr, a rival to Tesla and Nio, currently has two models, the Zeekr 001 and… Continue reading China’s Geely raises $750m for Zeekr EV brand
Indian EV charging and mobility solutions startup raises $40m
NEW DELHI — Indian homegrown electric vehicle charging and mobility solutions company Magenta has raised a total of $40 million in Series B funding through a combination of equity and debt. It has closed $20 million in equity funding led by two global marquee investors, co-founder Maxson Lewis told DealStreetAsia in an interview. Go to… Continue reading Indian EV charging and mobility solutions startup raises $40m
China’s Great Wall targets 50% growth in Thai sales this year
BANGKOK — China’s Great Wall Motor aims to increase sales in Thailand by 50% this year over 2022, the privately owned automaker said on Friday, while also planning to launch local production of electric vehicles in 2024. GWM sold 11,616 units in Thailand during 2022, more than triple the previous year’s tally, for a market… Continue reading China’s Great Wall targets 50% growth in Thai sales this year
Tesla earns 5 times more per car than Toyota, earnings show
NAGOYA, Japan — Toyota Motor earned less than a fifth in per-vehicle earnings compared with Tesla during the April-December period as Japan’s giant automaker struggles to absorb rising costs. Toyota earned 240,000 yen ($1,820) in net profit per unit during that time span last year. In contrast, Tesla raked in the equivalent of 1.26 million… Continue reading Tesla earns 5 times more per car than Toyota, earnings show
Toyota net profit drops 18% through December due to rising costs
TOKYO — Toyota Motor on Thursday said net profit for the April-December period in the current fiscal year ending in March was 1.89 trillion yen ($14.4 billion), down 18% from the previous year, as it struggled to improve operations amid continuing chip shortages and high material costs. The world’s top-selling automaker kept its full-year net… Continue reading Toyota net profit drops 18% through December due to rising costs