Author: Nikki News Feed

Toyota defies shareholder pressure to embrace EVs

TOKYO — Toyota Motor on Wednesday said it will continue to develop hybrid and other low-emission vehicles even as shareholders pile pressure on the company to embrace fully electric models to better address the challenge of climate change. Shareholders raised the issue at Toyota’s annual general meeting, held at its headquarters in Aichi Prefecture, western… Continue reading Toyota defies shareholder pressure to embrace EVs

Taiwan’s Foxconn breaks ground on first EV battery plant

KAOHSIUNG, Taiwan — Foxconn broke ground on its first battery cell plant on Wednesday, marking the latest move by the key iPhone assembler to make inroads into the booming electric vehicle industry. “We plan to build a localized ecosystem for the battery supply chain, from materials to battery cells and battery packs, in Kaohsiung,” Foxconn… Continue reading Taiwan’s Foxconn breaks ground on first EV battery plant

Honda startup to introduce three-wheel electric scooter

TOKYO — Honda Motor subsidiary Striemo announced on Monday its entry into the electric three-wheel scooter market.  A startup in Honda’s business creation program, Striemo unveiled its eponymous new electric scooter at a press conference. The company has begun taking preorders online from individuals for a limited 300 units at 260,000 yen ($1,900). The Striemo weighs 20 kilograms and can travel… Continue reading Honda startup to introduce three-wheel electric scooter

Indonesia’s e-motorbike makers hit the accelerator

JAKARTA — Indonesia’s motorcycle market, one of the world’s largest, is going electric as superapps, a sovereign wealth fund and even a coal miner are racing to grab a piece of the new business. Domestic manufacturers in Southeast Asia’s largest economy are riding on the government’s broader electric vehicle push, which includes a target of… Continue reading Indonesia’s e-motorbike makers hit the accelerator

Tesla to seek investor approval for 3-for-1 stock split

(Reuters) — Electric vehicle maker Tesla on Friday proposed a three-to-one stock split, making its shares more affordable following recent sell-offs of the most valuable automaker. The company also said Oracle co-founder Larry Ellison, a friend of Tesla Chief Executive Officer Elon Musk, will not stand for re-election to Tesla’s board when his term ends… Continue reading Tesla to seek investor approval for 3-for-1 stock split

36 Chinese automakers cut sticker prices, supporting tax breaks

BEIJING — The Chinese government and 36 automakers operating in the country have joined hands to revive anemic vehicle sales by offering tax breaks and discounts. New-vehicle sales sank 12.6% on the year in May, the China Association of Automobile Manufacturers reported Friday, the third straight month of double-digit declines. But one silver lining was that the… Continue reading 36 Chinese automakers cut sticker prices, supporting tax breaks

South Korea makes big bet on energy transition to hydrogen

ULSAN, South Korea — Long a major shipbuilding and petrochemical center, the brawny industrial hub of Ulsan has become a sandbox of experimentation for the next stage of South Korea’s development — transforming its economy from one based on fossil fuels to hydrogen. The city’s Jangsaengpo port, once a major whaling center, looks typical except… Continue reading South Korea makes big bet on energy transition to hydrogen