HAMBURG, Germany/ HONG KONG — Great Wall Motor is closing its European headquarters in Munich on Aug. 1 and laying off all 100 employees, including the management team, after disappointing electric vehicle sales in the continent’s biggest auto market, Nikkei Asia has learned. It will also halt plans to expand to Austria and Switzerland and… Continue reading China’s Great Wall Motor shuts Europe headquarters, fires all staff: sources
Author: Nikki News Feed
Apple assembler Foxconn turns to EVs and AI servers for next growth
TAIPEI — Taiwanese Apple assembler Foxconn aims to boost sluggish profit margins and spark renewed growth by focusing on electric vehicles and AI servers, looking to utilize the contract production model it honed with the iPhone to collaborate with Japanese automakers. “This year, we expect to collaborate with two traditional Japanese car manufacturers in the finished… Continue reading Apple assembler Foxconn turns to EVs and AI servers for next growth
Toyota group faces added pressure as foreign ownership grows
NAGOYA, Japan — Overseas investors are increasing holdings in Toyota Motor and its group companies across the board, a trend that is forcing the automaker group to contend with the demands of vocal shareholders. The percentage of foreign investors grew at nine major Toyota group companies, according to data from shareholder meeting material released through Thursday.… Continue reading Toyota group faces added pressure as foreign ownership grows
Tesla protester ordered to pay $23,400 for viral car show stunt
A Chinese woman who staged a protest while standing on the roof of a Tesla car at the Shanghai auto show three years ago was ordered by a court to apologize and pay more than 170,000 yuan ($23,400) to the carmaker, Tesla confirmed to Caixin. This is the second lawsuit in China in which Tesla… Continue reading Tesla protester ordered to pay $23,400 for viral car show stunt
Renault and Geely join in hybrid and combustion venture
(Reuters) — French automaker Renault and Chinese partner Geely on Friday announced a highly anticipated joint venture to develop combustion and hybrid engines, hoping to improve the competitiveness of their legacy auto businesses. The venture will work on developing more efficient gasoline engines and hybrid systems, as rival automakers ramp up investment in low-emission powertrains… Continue reading Renault and Geely join in hybrid and combustion venture
China’s SVOLT, like CATL, halts German growth plans as EV sales fall
HAMBURG, Germany — Chinese makers of electric vehicle batteries are curtailing their production plans in Germany as falling EV purchases in Europe’s largest auto market hamper their sales. SVOLT Energy Technology, spun off Chinese automaker Great Wall Motor, said last week it would halt plans to build a battery cell plant in Lauchhammer in eastern… Continue reading China’s SVOLT, like CATL, halts German growth plans as EV sales fall
U.S. tells owners to stop driving older Nissan vehicles over air bag concerns
WASHINGTON (Reuters) — Owners of nearly 84,000 older Nissan vehicles in the United States equipped with recalled, unrepaired Takata air bags should immediately stop driving them due to a safety hazard, the U.S. National Highway Traffic Safety Administration said on Wednesday. The agency made its announcement after the Japanese automaker issued a warning on Wednesday… Continue reading U.S. tells owners to stop driving older Nissan vehicles over air bag concerns
Thai gas station chain PTG focuses on cafes amid EV shift
BANGKOK — Major Thai gas station operator PTG Energy is retooling operations with the anticipated spread of electric vehicles, increasing coffee shops under its umbrella fivefold over the next three years and boosting the ratio of non-oil businesses in gross profit to 50%. PTG operates PunThai Coffee, known for its brown elephant logo and allowing… Continue reading Thai gas station chain PTG focuses on cafes amid EV shift
Toyota vows to keep developing new engines amid EV shift
TOKYO — Toyota Motor said Tuesday it will continue research and development of gasoline-powered engines despite the gradual shift of the global auto market to electric vehicles. “It is important to consider the future of energy and come up with diverse options to ensure reductions in CO2 emissions,” Toyota President Koji Sato said at a… Continue reading Toyota vows to keep developing new engines amid EV shift
Tesla suppliers urged to produce outside China and Taiwan
Tech Latest by Nikkei Asia brings you the newest updates from Asia’s technology industry. In this episode, Alice French is talking with Taipei tech correspondents Lauly Li and Annie Cheng Ting-Fang, about Tesla’s push to encourage its suppliers to produce outside of China and Taiwan. Listen to our latest podcast on Apple Podcasts | Google… Continue reading Tesla suppliers urged to produce outside China and Taiwan