TOKYO (Reuters) — Japan’s government warned on Saturday that new electric vehicle tax credits in the United States could ultimately deter further investment by the Japanese there and hit employment in the world’s biggest economy. In a comment submitted to the U.S. Treasury Department, the government raised a number of concerns about the tax credits in the… Continue reading Japan government sounds alarm over U.S. EV tax credits
Author: Nikki News Feed
South Korean battery makers’ sales surge from soaring EV demand
SEOUL — South Korea’s top three battery producers posted sharp increases in sales for the third quarter, according to results released by Friday, thanks to skyrocketing demand for electric vehicle batteries. Sales of EVs continue to climb, lifting demand for South Korean batteries among North American and European automakers. The weaker won against the dollar… Continue reading South Korean battery makers’ sales surge from soaring EV demand
Japan’s auto parts maker Marelli to invest $1.76bn in growth areas
TOKYO — Japanese auto parts supplier Marelli Holdings plans to invest 260 billion yen ($1.76 billion) over the next five years in areas including autonomous-driving technology and electric vehicles as it works to turn its fortunes around. The manufacturer, which counts Nissan Motor and Stellantis as clients, faces the tricky task of balancing investment in… Continue reading Japan’s auto parts maker Marelli to invest $1.76bn in growth areas
Guangzhou Motor Show postponed due to spread of COVID-19
GUANGZHOU — The Guangzhou International Automobile Exhibition (Guangzhou Motor Show), scheduled to be held from Nov. 18, has been postponed. The official organizer announced the postponement on Friday, citing the spread of COVID-19. The rescheduled date for the show has yet to be known, and will depend on the pandemic situation. The organizer explained the reason… Continue reading Guangzhou Motor Show postponed due to spread of COVID-19
Apple supplier Foxconn partners with Saudi wealth fund to build EVs
NEW YORK — Taiwanese tech group Hon Hai Precision Industry has partnered with Saudi Arabia’s sovereign wealth fund to build electric vehicles, a boost to Crown Prince Mohammed bin Salman’s push to diversify the kingdom’s economy. The new brand, Ceer, will license component technology from BMW, and design and manufacture vehicles in Saudi Arabia for consumers in the… Continue reading Apple supplier Foxconn partners with Saudi wealth fund to build EVs
Japan’s GS Yuasa to jump on EV battery bandwagon
KYOTO, Japan — GS Yuasa will enter the market for electric-vehicle batteries as early as next year, President Osamu Murao told Nikkei, shifting focus from hybrids to follow the industry’s global pivot to fully electric models. The Japanese battery maker recently formed a department for the project, bringing in engineers from its hybrid and plug-in… Continue reading Japan’s GS Yuasa to jump on EV battery bandwagon
Honda to test micro EVs geared for mapless self driving
TOKYO — Honda Motor will soon begin field testing microsized electric vehicles equipped for mapless autonomous driving as part of an initiative to develop next-generation mobility services. Honda on Wednesday conducted a demonstration of micromobility machines. One was a single-seat minicar that looked like a shrunken phone booth. There were also a two-seat minicar as well as… Continue reading Honda to test micro EVs geared for mapless self driving
Toyota chief wants tax breaks to advance carbon neutrality goal
TOKYO (Reuters) — Toyota Motor President Akio Toyoda on Wednesday raised the issue of tax breaks in a meeting with Japanese Prime Minister Fumio Kishida on support for the mobility industry as a pillar of the economy as Japan seeks to cut carbon emissions. The pair’s meeting came after Kishida said he wanted to exchange… Continue reading Toyota chief wants tax breaks to advance carbon neutrality goal
Toyota profits slide as chip shortage continues
TOKYO — Toyota Motor said it was still being hit by chip shortages as it cut its annual production forecast and kept its full-year outlook for net profit unchanged. The Japanese carmaker on Tuesday said net income for the April-September period, its first half, was 1.17 trillion yen ($7.88 billion), down 23.2% from the previous… Continue reading Toyota profits slide as chip shortage continues
TuSimple fires CEO over ties to Chinese firm; exec denies wrongdoing
(Reuters) — Shares of TuSimple Holdings nearly halved on Monday after the self-driving truck startup said it had removed Chief Executive Xiaodi Hou in connection with the company’s ties to a China-backed firm. TuSimple said in a securities filing that an investigation by its board showed some of its employees spent paid hours last year… Continue reading TuSimple fires CEO over ties to Chinese firm; exec denies wrongdoing