HO CHI MINH CITY — Electric vehicle maker VinFast officially filed for an initial public offering in New York in a move that, if successful, would make it the only Vietnamese company listed in the U.S. Fresh off its maiden shipment of EVs to the U.S., the young carmaker run by Vietnam’s richest man said… Continue reading Vietnam’s EV maker VinFast files for U.S. IPO
Author: Nikki News Feed
Tesla to deliver Shanghai-made EVs to Thailand in early 2023
BANGKOK — Tesla entered its second country in Southeast Asia’s budding electric vehicle market on Wednesday with an official launch in Thailand, where competitors are rushing to take advantage of government incentives for local production. Online bookings started on Wednesday for the Model 3 and Model Y, which Tesla aims to deliver in the first… Continue reading Tesla to deliver Shanghai-made EVs to Thailand in early 2023
Mercedes-Benz makes play for Japan market with first EV-only store
YOKOHAMA, Japan — German luxury automaker Mercedes-Benz has opened its first dealership dedicated exclusively to electric vehicles in Japan to take advantage of the shift to EVs in one of the world’s largest car markets. The store, which opened on Tuesday, is housed in a black two-story building in Yokohama, a major city just south… Continue reading Mercedes-Benz makes play for Japan market with first EV-only store
China’s Envision sees next ‘net-zero industrial parks’ in ASEAN
JAKARTA — Chinese greentech company Envision Group is eyeing Southeast Asia as its next target market, potentially led by Indonesia, as the region’s growing manufacturing capacity in electric vehicles and related industries fuels demand for climate-friendly technologies. Envision has declared an ambitious target to build 100 “net-zero industrial parks” around the world over the next… Continue reading China’s Envision sees next ‘net-zero industrial parks’ in ASEAN
China’s BYD plans to beat Nissan and Tesla on EV price in Japan
TOKYO — Chinese automaker BYD will begin selling its first passenger electric vehicle in Japan next month for 4.4 million yen ($32,000), less than EV offerings from rivals such as Nissan and Tesla, as it accelerates its global expansion. The carmaker, initially known for battery production, sees opportunities for its auto business in Japan, where… Continue reading China’s BYD plans to beat Nissan and Tesla on EV price in Japan
Honda, Toyota race to gain ground in Thai, Indonesian EV markets
BANGKOK/JAKARTA — Honda Motor and Toyota Motor are making their long-awaited moves in the electric vehicle markets of Thailand and Indonesia, where other Asian rivals have quickly established EV oligopolies in the absence of Japanese competition. Honda showcased its concept vehicle, dubbed “SUV e:Prototype,” at the Thailand International Motor Expo, which opened Wednesday in the… Continue reading Honda, Toyota race to gain ground in Thai, Indonesian EV markets
Chinese F1 Grand Prix canceled for 4th year in a row
LONDON (Reuters) — Formula One’s Chinese Grand Prix was canceled for the fourth year in a row on Friday due to strict local measures to curb the spread of COVID-19, with the sport looking for a possible replacement. The 2023 race in Shanghai would have been the first since 2019 and had been scheduled for April 16 as… Continue reading Chinese F1 Grand Prix canceled for 4th year in a row
Indonesia auto-finance startup Broom lines up new funding
JAKARTA — Indonesian auto-financing startup Broom is finalizing a new funding round of $6 million to $8 million, led by Singapore-based venture capital firm OpenSpace Ventures with an investment of up to $4 million, DealStreetAsia has learned. A number of existing investors are also participating in the new round, according to three people aware of the development.… Continue reading Indonesia auto-finance startup Broom lines up new funding
Nidec to invest $7bn-plus in EV motors, CEO Nagamori says
KYOTO — Nidec plans to invest a total of 1 trillion yen ($7.21 billion) in its E-Axle electric motor systems by around fiscal 2030, Chairman and CEO Shigenobu Nagamori told Nikkei, in its bid to become the world’s top player in the field. The adoption of electric vehicles will rapidly accelerate starting in 2025, according… Continue reading Nidec to invest $7bn-plus in EV motors, CEO Nagamori says
BYD accelerates in Thailand as fuel costs drive EV demand
BANGKOK — Thai motorists are eyeing electric vehicles at the country’s annual motor expo that opened in Bangkok on Thursday, as they look for relief from high fuel prices. But with only a few brands ready to deliver EVs by year’s end, Chinese automaker BYD has an early advantage. “Any brand that can deliver fast,… Continue reading BYD accelerates in Thailand as fuel costs drive EV demand