SHANGHAI (Reuters) — Chinese battery giant CATL said it was planning a private share placement to raise up to 58.2 billion yuan ($8.98 billion) to fund six projects aimed at boosting its production capacity of lithium-ion batteries. The massive fundraising comes as the Ningdo-based firm – formally Contemporary Amperex Technology Co Ltd – expands battery… Continue reading China’s CATL seeks $9bn to expand li-ion battery production
Author: Nikki News Feed
China’s Nio plans new brand to take on Tesla in China
HONG KONG — Chinese premium electric vehicle maker Nio plans to launch a mass-market brand to take on Tesla, and will roll out three new models next year as it tries to widen its customer base. The planned models include its first premium sedan, the ET 7, and a cheaper variant to add to Nio’s… Continue reading China’s Nio plans new brand to take on Tesla in China
Nissan to halt operations of US factory amid chip shortage
NEW YORK — Nissan Motor on Monday will halt operations at an assembly plant in the U.S. due to a semiconductor supply shortage stemming from rising COVID-19 cases in Malaysia, sources told Nikkei. The Japanese carmaker’s Smyrna plant in Tennessee produces the Leaf electric vehicle and Rogue SUV. Nissan plans to resume operations on Aug.… Continue reading Nissan to halt operations of US factory amid chip shortage
Singapore plays catch-up with Taiwan as chip investments soar
SINGAPORE — Singapore has unveiled billions of dollars of semiconductor-related investments over the past year – but it still has far to go if it wants to match Taiwan and other chipmaking powerhouses in Asia. Although it is known in Asia as a prominent financial and technology hub, Singapore’s peers in the region dwarf it… Continue reading Singapore plays catch-up with Taiwan as chip investments soar
Geely recharges Renault’s Chinese ambitions with hybrid tie-up
BEIJING — Volvo Car owner Geely will team up with the Renault group on hybrid vehicles in China and South Korea, in the latest European alliance for the largest private-sector Chinese automaker in the world’s biggest auto market. Zhejiang Geely Holding Group is expected to take a majority stake in a new joint venture under… Continue reading Geely recharges Renault’s Chinese ambitions with hybrid tie-up
EV shift puts engine jobs on chopping block in Japan and Germany
TOKYO — For decades, the internal combustion engine has powered cars and household incomes worldwide. Now, the future of jobs making thousands of engine components looks as murky as that of the technology itself. Driven in part by government policy, the global shift to electric vehicles will affect hundreds of thousands of automotive jobs in… Continue reading EV shift puts engine jobs on chopping block in Japan and Germany
Chinese EV maker Li Auto launches $1.9bn Hong Kong listing drive
HONG KONG — Chinese electric vehicle maker Li Auto is seeking to raise $1.9 billion through a listing on the Hong Kong Stock Exchange that will give it greater security amid rising capital market tensions between Washington and Beijing. Li Auto went public only a year ago on the Nasdaq Stock Market, raising $1.1 billion.… Continue reading Chinese EV maker Li Auto launches $1.9bn Hong Kong listing drive
EV powertrains set to disrupt auto industry’s pecking order
TOKYO — Electric-vehicle makers including Hyundai Motor and Stellantis have begun to look beyond their own development teams for powertrain systems — the throbbing heart that makes EVs go — in a trend that could reshape decades-old automotive supply chains. EV powertrains, called e-axles, combine motors, gearboxes and other drive components into one system that plays a… Continue reading EV powertrains set to disrupt auto industry’s pecking order
Hino and Isuzu race for electric trucks as Chinese rivals encroach
TOKYO — Isuzu Motors and Hino Motors are making forays into no-emission light trucks next year as Japan trails other major automobile markets in embracing electrified fleets. The Japanese commercial vehicle producers are eyeing business with shipping and logistics companies while fighting the growing presence of Chinese rivals, which offer competitive prices. Hino intends to roll… Continue reading Hino and Isuzu race for electric trucks as Chinese rivals encroach
China’s CATL unveils sodium-ion battery as EV popularity rises
BEIJING (Reuters) — China’s CATL on Thursday became the first major automotive battery maker to unveil a sodium-ion battery, saying it planned to set up a supply chain for the new technology in 2023. As electric vehicles become increasingly popular, demand for key battery ingredients, particularly cobalt, has spiked. That has spurred car and battery… Continue reading China’s CATL unveils sodium-ion battery as EV popularity rises