SEOUL (Reuters) — Tesla chief executive Elon Musk said on Wednesday that South Korea was among its top candidate locations for a factory it plans to build in Asia for making electric vehicles (EVs), according to South Korea’s presidential office. Musk had made the remark in a video call with President Yoon Suk-yeol, adding that the… Continue reading Elon Musk names South Korea among top candidates for EV investment
Author: Nikki News Feed
Vietnam’s Vingroup builds battery plant with China’s Gotion
HANOI — Vingroup has broken ground on a new battery factory, as Vietnam’s largest private-sector conglomerate looks to build a supply chain at home for its own electric vehicles. The factory, located in the central Vietnam province of Ha Tinh, is a joint venture between Vingroup subsidiary VinES Energy Solutions and Chinese battery producer Gotion… Continue reading Vietnam’s Vingroup builds battery plant with China’s Gotion
Hyundai’s first female director: Diversity can drive innovation
Automobiles Aerospace expert Lee Ji-yun expects automaker to lead air mobility market Lee Ji-yun, Hyundai Motor’s first female board director, says South Korea has a long way to go to reach gender equality in corporate governance. (Source photos courtesy of Hyundai Motor and by Reuters) KIM JAEWON, Nikkei staff writerNovember 23, 2022 11:30 JST |… Continue reading Hyundai’s first female director: Diversity can drive innovation
EV late mover Mazda leans on partners in $10bn electrification drive
TOKYO — Mazda Motor aims to electrify up to 40% of its vehicles sold in 2030 in a measured approach that will rely on outside partners and continued earnings from gasoline-powered cars. The Japanese automaker’s 1.5 trillion yen ($10.6 billion) plan announced Tuesday includes battery partners’ investment, and is divided into three-year stages. Go to… Continue reading EV late mover Mazda leans on partners in $10bn electrification drive
LG Chem to build $3.2bn EV battery material plant in the U.S.
SEOUL — South Korea’s LG Chem announced on Tuesday that it will invest $3.2 billion to build a key material plant for electric vehicle batteries in the U.S., as the administration of President Joe Biden is keen to strengthen the country’s EV sector with tax breaks for buyers. LG Chem said that it signed a… Continue reading LG Chem to build $3.2bn EV battery material plant in the U.S.
Mazda in $10.6bn EV plan with battery maker Envision AESC
TOKYO — Japanese automaker Mazda plans to spend about 1.5 trillion yen ($10.6 billion) by 2030 to address its transition to electric vehicles, joining a rush by global carmakers to expand EV capacity. The company will team up with Kanagawa-based Envision AESC Group, a major auto battery manufacturer owned by a Chinese company, to secure… Continue reading Mazda in $10.6bn EV plan with battery maker Envision AESC
Honda aims to become U.S. EV major through Sony, GM tie-ups
DETROIT — Long skeptical of fully electric vehicles, Honda finds itself in a race to catch up to rivals, as its first long-range EV targeting the U.S. market is still a year away from production — a distinct problem considering there will be more than 50 EV models in American showrooms by then. That has… Continue reading Honda aims to become U.S. EV major through Sony, GM tie-ups
Hyundai opens new Vietnam car factory with 100,000-unit capacity
HANOI — A joint venture between South Korea’s Hyundai Motor and Vietnamese conglomerate Thanh Cong Group has opened a sprawling new factory in northern Vietnam, as it looks to expand production and hold on to its top spot in the market. The plant, located in Ninh Binh province, has an annual production capacity of 100,000… Continue reading Hyundai opens new Vietnam car factory with 100,000-unit capacity
Japan’s Nidec to build $715m plant in Mexico to tap EV demand
KYOTO — Japanese motor maker Nidec is planning to invest an estimated 100 billion yen ($715 million) in the construction of a plant in Mexico that would produce electric axles, the powertrains of electrical vehicles. The plan was revealed by Shigenobu Nagamori, Nidec’s chairman and CEO, in a recent interview with Nikkei. The Kyoto-based company… Continue reading Japan’s Nidec to build $715m plant in Mexico to tap EV demand
Nissan-Renault issue should not be politicized: Macron
BANGKOK — The French government will leave automakers Renault and Nissan to work out how to rebalance their alliance themselves, President Emmanuel Macron indicated Thursday in an exclusive interview with Nikkei Asia. “We should not politicize this question,” Macron said, adding, “This alliance is based on respect and mutual success.” The French government is Renault’s largest shareholder, with… Continue reading Nissan-Renault issue should not be politicized: Macron