Author: Nikki News Feed

KKR-owned auto supplier Marelli enters court-led restructuring

TOKYO — Struggling Japanese auto parts supplier Marelli Holdings will enter a court-led restructuring process after failing to get creditors to back an alternative workout plan that would have brought faster debt relief.  Marelli, a KKR-owned supplier that counts Nissan and Stellantis as clients, plans to continue operating while going through restructuring. But the switch to the… Continue reading KKR-owned auto supplier Marelli enters court-led restructuring

Chinese EV maker Nio sparks backlash with Shanghai crash handling

SHANGHAI — Chinese electric vehicle maker Nio has triggered a backlash, after it appeared to blame a bizarre accident at its Shanghai headquarters on two people killed when one of its cars plummeted from the building’s third floor. The accident on Wednesday, which left two digital dashboard testers dead, went viral online with images showing… Continue reading Chinese EV maker Nio sparks backlash with Shanghai crash handling

Toyota pushes some parts suppliers to lower prices

NAGOYA — Toyota Motor is asking certain parts companies to cut prices for the July-September quarter, returning to its customary requests now that it expects output to recover soon. The Japanese automaker works with suppliers to curb costs and asks them to share a portion of the resulting savings in the form of price cuts… Continue reading Toyota pushes some parts suppliers to lower prices

Toyota recalls first mass-produced EVs just 2 months after launch

TOKYO (Reuters) — Toyota Motor said on Thursday it would recall 2,700 of its first mass-produced electric vehicles for the global market because of a risk the wheels could come loose. The world’s largest automaker by sales submitted the recall of the bZ4X sport utility vehicle to Japan’s transportation ministry. Of the 2,700 vehicles, 2,200 were earmarked for Europe, 260 for… Continue reading Toyota recalls first mass-produced EVs just 2 months after launch

BMW counters Tesla offensive in China with new EV plant

SHENYANG, China — Gray walls stretch into the distance about an hour’s drive from the center of Shenyang in northeast China. Behind the barriers is Plant Lydia, a 15 billion yuan ($2.24 billion) factory built by BMW Brilliance, a joint venture between BMW and Brilliance China Automotive Holdings. The massive structure represents an accelerated push into electric vehicles by… Continue reading BMW counters Tesla offensive in China with new EV plant

Two killed as car crashes to ground from Nio’s Shanghai office

SHANGHAI — Two people are dead after a test car flew out of Chinese electric vehicle maker Nio’s Shanghai headquarters and plunged several stories to the ground, local media reports said. The bizarre accident, which happened Wednesday evening, reportedly killed both passengers inside the vehicle despite efforts to save them. Nio issued a statement late Thursday… Continue reading Two killed as car crashes to ground from Nio’s Shanghai office

Toyota reinstates former executive Julie Hamp as media adviser

TOKYO — Toyota Motor on Thursday said it reinstated Julie Hamp, as a senior media adviser, seven years after she resigned from the company following her arrest by Tokyo police for carrying drugs. In her role, Hamp will be responsible for supporting Toyota North America’s public relations operations. Hamp joined Toyota’s U.S. subsidiary in 2012 after working… Continue reading Toyota reinstates former executive Julie Hamp as media adviser