Author: Nikki News Feed

China’s Baidu wins first permits for fully driverless ‘robotaxis’

SHANGHAI — China’s Baidu said Monday that it has secured permits to put fully driverless taxis on the road in two major cities for the first time, in what it called a “turning point” for autonomous driving. The announcement comes a few weeks after the search engine group released a new generation of self-driving vehicles with… Continue reading China’s Baidu wins first permits for fully driverless ‘robotaxis’

Toyota earnings outlook clouded by $13bn cost increase, Lexus backlog

NAGOYA — Toyota Motor now expects to pay an extra 1.7 trillion yen ($12.8 billion) in material costs this fiscal year, a sharply higher forecast than just a few months ago owing to a weak yen and the disruption from the war in Ukraine. Thursday’s new estimate for the year ending March 2023 is 20% higher than the projection… Continue reading Toyota earnings outlook clouded by $13bn cost increase, Lexus backlog

Tokyo eyes flying-car landing pads atop skyscrapers

TOKYO — Mitsubishi Estate is readying for Japan’s first crewed flying-vehicle test flights in fiscal 2024, turning the rooftops of Tokyo high-rises it owns into takeoff and landing pads. The real estate developer has been picked as an operator of a Tokyo Metropolitan Government project, partnering with Japan Airlines as well as Kanematsu, a trading… Continue reading Tokyo eyes flying-car landing pads atop skyscrapers

Toyota shares fall 3% despite higher net profit forecast

TOKYO — Shares in Toyota Motors fell 3% on Thursday despite the carmaker raising its net profit forecast for the current fiscal year. The Japanese auto giant said it now expects a net profit of 2.36 trillion yen ($17.6 billion) for the year ending March 2023, down 17.2% from the previous year. The profit decline… Continue reading Toyota shares fall 3% despite higher net profit forecast

Toyota unit Hino has falsified engine data for nearly 20 years

TOKYO — Japanese truck maker Hino Motors, a unit of Toyota Motor, said on Tuesday that it has been falsifying data related to engine emissions and fuel performance for a longer period of time and on more models than previously admitted, making it more difficult for the company to rebuild its management and restore credibility.… Continue reading Toyota unit Hino has falsified engine data for nearly 20 years

GAC denies Stellantis ‘breach of trust’ claim over failed JV

HONG KONG — Guangzhou Automobile Group (GAC) has hit back against recent remarks made by the CEO of longtime partner Stellantis, Carlos Tavares, who said its recent decision to terminate a loss-making joint venture was due to a “breach of trust” on the Chinese side.  In an emailed statement received by Nikkei Asia on Tuesday, a GAC… Continue reading GAC denies Stellantis ‘breach of trust’ claim over failed JV

German auto parts maker ZF eyes commercial EV market in Japan

TOKYO — German auto parts maker ZF is set to enter the Japanese commercial vehicle market as early as in 2026, supplying small electric trucks and vans for local delivery companies, Nikkei has learned. ZF, the world’s third-largest auto parts maker, aims to reach orders for 10,000 EVs a year by 2030. It intends to… Continue reading German auto parts maker ZF eyes commercial EV market in Japan

Hino Motors to brief on emissions data; shares fall more than 7%

TOKYO (Reuters) — Hino Motors shares tumbled more than 7% on Tuesday following a report that the scope of its announced falsification of emissions data may be larger than previously expected. The automaker, a unit of Toyota Motor, said it and its special investigation committee would hold a news conference later in the day regarding… Continue reading Hino Motors to brief on emissions data; shares fall more than 7%