BANGKOK — BYD, China’s top electric vehicle producer, will make Thailand its first production hub in Southeast Asia, a move likely to challenge Chinese brands already in the kingdom and poised to capitalize on an expected, government-aided surge in demand. Liu Xueliang, BYD’s Asia-Pacific division manager, said the company intends to build a production center… Continue reading BYD to build 150,000 cars a year in Thailand
Author: Nikki News Feed
Top China EV producer BYD to build cars in Thailand
BANGKOK — BYD, China’s top electric vehicle producer, will make Thailand its first production hub in Southeast Asia, a move likely to challenge existing Chinese brands in the kingdom poised to capitalize on an expected, government-aided surge in demand. According to an official at Thailand’s Board of Investment, BYD is to invest a total of… Continue reading Top China EV producer BYD to build cars in Thailand
Nissan to acquire battery maker Vehicle Energy Japan
TOKYO (Reuters) — Japan’s Nissan Motor said on Wednesday it had agreed to acquire all the common shares in Vehicle Energy Japan held by the lithium-ion battery maker’s biggest shareholder. Nissan added that after the acquisition of the shares held by the Innovation Network Corporation of Japan (INCJ), a state-backed fund, Vehicle Energy Japan will… Continue reading Nissan to acquire battery maker Vehicle Energy Japan
Toyota unit Hino to freeze truck production for some models for a year
TOKYO — Toyota Motor unit Hino Motors will halt production of some medium- and heavy-duty trucks for at least another year after an engine emissions cheating scandal, Nikkei has learned. Some domestic models of the medium-duty Ranger truck brand and the heavy-duty Profia truck brand will not be produced until August 2023. Those models had false emissions tests,… Continue reading Toyota unit Hino to freeze truck production for some models for a year
Steady ride: Self-driving car seats promise motion sickness cure
TOKYO — While self-driving cars bring the promise of being able to sit back and enjoy the scenery for some would-be drivers, those who suffer from car sickness may feel apprehensive at the prospect of long rides where the machine does most of the driving. To ease their pain, and the pain of other passengers,… Continue reading Steady ride: Self-driving car seats promise motion sickness cure
LG Energy Solution tackles $228bn EV battery order with partners
SEOUL — South Korea’s LG Energy Solution recently struck another major joint venture to build an overseas plant for electric vehicle batteries, a strategy it hopes will allow it to lock in customers and rein in costs as it chases global leader Contemporary Amperex Technology (CATL) of China. LG Energy announced last month it will… Continue reading LG Energy Solution tackles $228bn EV battery order with partners
Toyota to hike price of steel supplies for parts makers by up to 30%
Inflation Surging material costs stoke inflationary pressures A Toyota Motor plant in Zarate, Argentina. Steel is believed to account for around 50% of the material cost of a car. © Reuters MASAHISA YUZAWA, KEI MIYATA, SHUHEI OCHIAI and MOMOKA MATSUMOTO, Nikkei staff writersSeptember 1, 2022 02:02 JST | Japan NAGOYA/TOKYO — Toyota Motor will… Continue reading Toyota to hike price of steel supplies for parts makers by up to 30%
China’s Great Wall Motor posts profit surge on Russia business
HONG KONG — Great Wall Motor, the largest Chinese SUV maker, has reported 59% year-on-year growth in net profit for the first six months of this year, owing to its operations in Russia, where Western competitors are winding down their presence since the Ukraine invasion. The automaker’s first-half net profit of 5.60 billion yuan ($812 million) marked… Continue reading China’s Great Wall Motor posts profit surge on Russia business
Toyota to invest $5.3bn to make EV batteries in U.S. and Japan
TOKYO — Toyota Motor announced on Wednesday that it will invest up to 730 billion yen ($5.3 billion) to expand production of batteries for electric vehicles in Japan and the U.S. in a move to meet increasing EV demand. The auto giant will invest 400 billion yen domestically in the plant of Prime Planet Energy… Continue reading Toyota to invest $5.3bn to make EV batteries in U.S. and Japan
BYD shares plunge as Warren Buffett trims stake in China EV maker
HONG KONG — Shares in BYD, China’s biggest maker of electric vehicles, plunged nearly 8% on Wednesday, performing worse than any other stock on the benchmark Hang Seng Index, after filings showed Warren Buffett’s Berkshire Hathaway trimmed its stake in the company. Berkshire sold 1.33 million shares in the automaker — just under 1% of its… Continue reading BYD shares plunge as Warren Buffett trims stake in China EV maker