TOKYO — Japanese policymakers will consider changes to a flat local tax on electric vehicles to head off a potential drop in revenue as drivers shift away from more heavily taxed gasoline cars. Local automobile taxes have a class component based on engine size that ranges up to 110,000 yen ($789) a year, but that… Continue reading Japan to weigh raising tax on EVs as it fears revenue decline
Author: Nikki News Feed
Renault weighs reducing Nissan stake through a trust
TOKYO –Renault may transfer a portion of its stake in Nissan Motor to a trust to match Nissan’s holdings in Renault, Nikkei has learned, as part of a plan by the two automakers to rebalance their alliance under more equitable terms. Renault currently owns 43% of Nissan, while Nissan owns 15% of Renault. The proposal would have Renault… Continue reading Renault weighs reducing Nissan stake through a trust
Chinese auto parts maker Kasco raises $72m in Series B round
HONG KONG — China’s Kasco, also known as KH Automobile Technology, a producer of vehicle air suspension systems, this week said it had raised 510 million yuan ($72.4 million) in a Series B funding round. The round was led by China Venture Capital, a joint venture between CRRC Corp and Guochuang Investment Fund Manager, Source Code Capital… Continue reading Chinese auto parts maker Kasco raises $72m in Series B round
China’s Great Wall Motor to double Thai EV investment
BANGKOK — Chinese automaker Great Wall Motor vowed to double its investment in Thailand to maintain its place as one of the leading electric vehicle brands in the country as the competition closes in. Since the company entered the Thai market two years ago, it has invested 12 billion baht ($334 million) in producing EVs… Continue reading China’s Great Wall Motor to double Thai EV investment
Vietnam’s EV push fails to bring automakers aboard as sales falter
HANOI — Despite Vietnam’s ambitious plans to expand its electric vehicle market with tax incentives, overseas automakers remain reluctant to make forays in light of the struggles by domestic peer VinFast. At late October’s Vietnam Motor Show in Ho Chi Minh City, only German automakers Mercedes-Benz and Audi unveiled plans to offer electric cars in… Continue reading Vietnam’s EV push fails to bring automakers aboard as sales falter
BMW commits $1.4bn to expand EV battery output in China
DALIAN, China — BMW will invest 10 billion yuan ($1.40 billion) to expand production of electric vehicle batteries in China, where the company aims to tap growing EV demand while fending off Tesla and local rivals. The German marque held a signing ceremony for the deal Friday in Shenyang, the northeastern Chinese city home to joint venture… Continue reading BMW commits $1.4bn to expand EV battery output in China
China’s CATL to help Indonesia build ‘green’ battery industry
BALI, Indonesia — The chairman of Chinese battery giant Contemporary Amperex Technology (CATL) says his company is committed to helping Indonesia develop a “green” battery industry, as global electric vehicle makers eye the country and its huge reserves of nickel despite environmental concerns. Robin Zeng emphasized that two of CATL’s plants in China have been… Continue reading China’s CATL to help Indonesia build ‘green’ battery industry
Elon Musk seeks more Twitter videos and cheaper Teslas
BALI, Indonesia — Tesla CEO Elon Musk on Monday said he is planning to have more videos on his newly acquired Twitter, advocated for affordable electric cars and proposed more tunnels to help developing countries tackle traffic jams. “Twitter for sure, I think it’s gonna be a lot more on video,” said Musk, whose recent… Continue reading Elon Musk seeks more Twitter videos and cheaper Teslas
Tesla says it will assist police probe into fatal China crash
BEIJING (Reuters) — U.S. automaker Tesla said on Sunday it will assist Chinese police investigating a crash involving one of its Model Y cars after local media reports said two people had died and three were injured when the driver lost control of the vehicle. The incident on Nov. 5 in the southern province of… Continue reading Tesla says it will assist police probe into fatal China crash
BYD takes commanding EV patent lead among Chinese rivals
TOKYO — Chinese electric-vehicle maker BYD has taken an overwhelming lead in patent filings for EV technology, the arsenal of innovation fueling the company’s emergence as a global player. Nikkei, with the assistance of Tokyo-based analytics firm Intellectual Property Landscape, analyzed EV patent applications from China’s four largest sellers of all-electric vehicles. BYD came out… Continue reading BYD takes commanding EV patent lead among Chinese rivals