SEOUL — Hyundai Motor’s revenue jumped more than 30% in the third quarter on strong electric vehicle sales, but profit fell as the company had to set aside nearly $1 billion to deal with the repair of faulty gasoline engines on some older cars. Hyundai announced on Monday that operating profit fell 3.4% to 1.6… Continue reading Hyundai Motor Q3 profit falls on engine recall provisions
Author: Nikki News Feed
Japanese companies explore how to go ‘zero-China’ amid tensions
TOKYO — Japanese companies are striving to build supply chains that do not depend on China, amid that country’s growing conflict with the U.S. This is expected to dramatically increase the costs of all manner of products. Are companies prepared for “zero-China?” This past summer, a top-secret project was in full swing at Honda Motor… Continue reading Japanese companies explore how to go ‘zero-China’ amid tensions
Subaru plans self-driving cars that ride out lost data connections
TOKYO — Subaru aims to develop self-driving technology by 2025 that can pilot a car even when its data connection is lost, Nikkei has learned. The Japanese automaker envisions servers constantly collecting data on a car’s position to predict the vehicle’s course up to roughly 10 seconds down the road. Go to Source
Chinese battery giant CATL’s profit jumps as it ramps up output
SHANGHAI (Reuters) — China’s CATL 300750.SZ, the world’s largest electric vehicle (EV) battery maker, said on Friday its third-quarter profit nearly tripled year-on-year, buoyed by rapid expansion in production to power the growth of EVs worldwide. CATL, whose clients include Tesla TSLA.O, Volkswagen VOWG.DE and BMW BMWG.DE, booked a net profit of 9.4 billion yuan… Continue reading Chinese battery giant CATL’s profit jumps as it ramps up output
Toyota to fall short of annual production plan amid chip shortage
NAGOYA — Toyota Motor announced on Friday that its global production volume for the fiscal year ending March 2023 will be lower than its planned 9.7 million units due to semiconductor shortages. The company is now examining the specific number of units it will produce. It produced 8.18 million units in the fiscal year ending… Continue reading Toyota to fall short of annual production plan amid chip shortage
SAP seeks Asian participation in German-led industrial platform
SINGAPORE — Leading German software company SAP will call for major Japanese automakers, leading Asian semiconductor manufacturers and others to participate in Catena-X, an industrial data platform developed in Germany, said Hagen Heubach, the company’s global vice president for the auto industry. To avoid a recurrence of confusion in the auto industry’s supply chain, which… Continue reading SAP seeks Asian participation in German-led industrial platform
Vietnam EV maker VinFast to open offices in Frankfurt, Paris and Amsterdam
HANOI — Vietnamese electric-vehicle maker VinFast will establish local headquarters in three European countries as it seeks to transform itself into a global auto brand. The new offices will be located in Frankfurt, Paris and Amsterdam, according to VinFast. Germany, France and the Netherlands will each have a sales strategy tailored to that market. Go to Source
Thai renewable energy leader develops electric mini truck
BANGKOK — Energy Absolute has developed an all-electric truck as one of Thailand’s largest renewable power producers branches out to electric vehicles, adding to its lineup of electric boats and buses. The MT30 mini trucks are slated to start deliveries early next year and are equipped with lithium-ion batteries that have a capacity of 30 kilowatt-hours. A single… Continue reading Thai renewable energy leader develops electric mini truck
Sony-Honda team takes on Apple in software auto evolution
TOKYO — The history of the auto industry has been one of ever-shifting alliances in pursuit of scale: Toyota Motor joining and later parting with General Motors, Mazda Motor doing the same with Ford Motor, and even Renault and Nissan Motor, once seen as exemplary partners but now looking to renegotiate their arrangement. The joint… Continue reading Sony-Honda team takes on Apple in software auto evolution
GM shifts EV overseas offensive to Europe, Japan and South Korea
NEW YORK — U.S. automaker General Motors plans to release electric vehicles overseas, including in Europe, a market from which it had almost completely withdrawn. The company has downsized most of its overseas operations — except for China and Latin America — since it went under in 2009. But as its bottom line improves, it… Continue reading GM shifts EV overseas offensive to Europe, Japan and South Korea