TOKYO — Japanese semiconductor startup Headspring will form a joint venture by March with India’s Anand Group to develop inexpensive, mass-producible components for electric vehicles in the South Asian country. Under the venture announced by Headspring, the startup will supply proprietary technology to develop powertrains and converters. The partners plan to start mass-producing the components for local and… Continue reading Japan chip startup forms EV parts joint venture in India
Author: Nikki News Feed
Toyota’s Akio Toyoda to step down as CEO and president
TOKYO — Toyota Motor announced on Thursday that Akio Toyoda will step down as president and CEO on April 1 to be replaced by Chief Branding Officer Koji Sato, who has been tapped to “fully remodel” the automaker as a mobility company. The first change of president in 14 years for the company comes as… Continue reading Toyota’s Akio Toyoda to step down as CEO and president
Tata Motors swings to profit but warns ‘scorching’ growth will cool
BENGALURU — Passenger car sales in India could moderate after last year’s “scorching growth,” a top Tata Motors executive said on Wednesday as the automaker reported a profit for the first time in two years. “In passenger vehicles, the worry would be whether there is a market slowdown happening,” P.B. Balaji, group chief financial officer, told… Continue reading Tata Motors swings to profit but warns ‘scorching’ growth will cool
Tesla plans $3.6bn Nevada expansion to make batteries, Semi truck
(Reuters) — Tesla said on Tuesday it would invest more than $3.6 billion to expand its Gigafactory Nevada complex with two new factories, one to mass-produce its long-delayed Semi electric truck and the other to make its new 4680 battery cell. The cell plant would be able to make enough batteries for 2 million light-duty… Continue reading Tesla plans $3.6bn Nevada expansion to make batteries, Semi truck
Mazda’s earnings rebound stands out among Japan’s automakers
TOKYO — Japanese automaker Mazda has seen an outstanding recovery in its earnings power, despite ongoing headwinds. However, the company still faces growing challenges in the era of electric vehicles. To boost its share price, the company will need to continue raising its earnings. In the fiscal year ending on March 31, 2023, sales volume in… Continue reading Mazda’s earnings rebound stands out among Japan’s automakers
Indian battery startup Log9 gets recharged with $40m in funding
NEW DELHI — Indian battery startup Log9 has raised $40 million through a mix of equity and debt in a Series B funding round led by Amara Raja Batteries and Petronas Ventures. Incred Financial Services Private, Unity Small Finance Bank, Oxyzo Financial Services and Western Capital Advisors also participated in the round, Log9 said on Monday. Go… Continue reading Indian battery startup Log9 gets recharged with $40m in funding
Honda, GS Yuasa to launch EV battery joint venture
TOKYO — Honda Motor on Monday said it will establish a joint venture with GS Yuasa to develop electric vehicle batteries, building on their existing partnership in hybrid cells to tap the growing EV market. Besides product development, the new company, to be established by the end of 2023, will cover a wide range of… Continue reading Honda, GS Yuasa to launch EV battery joint venture
Japan niche industrial-tool maker to leverage EV equipment demand
Automobiles OSG to create more products for micro-precision machining OSG President Nobuaki Osawa. (Sources photo by Natsumi Kawasaki and courtesy of OSG) NATSUMI KAWASAKI, Nikkei staff writerJanuary 23, 2023 11:19 JST | Japan TOKYO — Japanese industrial tool maker OSG aims to increase production of micro-precision machine tools for electric vehicles and chipmaking equipment as… Continue reading Japan niche industrial-tool maker to leverage EV equipment demand
GM, LG Energy drop plan for fourth U.S. battery plant
WASHINGTON (Reuters) — General Motors and LG Energy Solution do not plan to move forward with a fourth U.S. battery cell manufacturing plant, two sources told Reuters on Friday. The companies joint venture Ultium Cells LLC in August said it was considering a site in New Carlisle, Indiana, for a fourth U.S. battery plant expected… Continue reading GM, LG Energy drop plan for fourth U.S. battery plant
China’s self-driving car push hits legal and cost roadblocks
GUANGZHOU/TOKYO — China’s efforts to get more nearly autonomous vehicles on its roads have become bogged down by growing uncertainty over the technology’s near-term profit potential in a challenging environment. The country has made significant strides in recent years under a national strategy that prioritizes autonomous-driving technology. A road map released in November 2020 calls… Continue reading China’s self-driving car push hits legal and cost roadblocks