NEW YORK/SEOUL — Ford Motor will form a joint venture with South Korea’s SK Innovation to manufacture batteries for electric vehicles in the U.S., the companies said Thursday. Through the venture, named BlueOvalSK, the two partners will invest about $5.3 billion to build a new battery plan in the U.S. The announcement, which comes ahead… Continue reading Ford and SK to build $5bn EV battery plant for US supply chain
Author: Nikki News Feed
Toyota US parts maker hit by cyberattack, data compromised
NAGOYA, Japan — An American manufacturing unit of Toyota Auto Body was hacked by what is believed to be a Russian cybergang, the Toyota Motor subsidiary said Thursday, with sensitive information exposed online. The admission came less than a week after another group member of the Japanese auto giant reported a cyberattack. Toyota Auto Body… Continue reading Toyota US parts maker hit by cyberattack, data compromised
Ford and SK Innovation to announce EV battery joint venture
DETROIT/SEOUL (Reuters) — Ford Motor and South Korean battery maker SK Innovation are set to launch a battery joint venture in the United States to support the ramp-up of the No. 2 U.S. automaker’s electric vehicle rollout, two people familiar with the matter said. A memorandum of understanding about the joint venture will be announced… Continue reading Ford and SK Innovation to announce EV battery joint venture
Fisker finalizes deal with Foxconn to make EVs in US
DETROIT (Reuters) — Electric car maker Fisker Inc has finalized its vehicle-assembly deal with Foxconn Technology Co Ltd, including plans to open a U.S. plant in 2023, the companies said on Thursday. The plant’s location has not been identified, but Fisker Chief Executive Henrik Fisker said four states are under consideration, including Foxconn’s plant site… Continue reading Fisker finalizes deal with Foxconn to make EVs in US
Chinese EV maker BYD to spin off chip unit amid global shortage
HONG KONG — BYD, one of China’s largest makers of electric cars and buses, is moving ahead with plans to list its semiconductor subsidiary even as rivals scramble to acquire chips to keep up production of their vehicles. BYD shares rose 4.9% in both Hong Kong and Shenzhen on Wednesday in reaction to the company’s… Continue reading Chinese EV maker BYD to spin off chip unit amid global shortage
Nissan heads for third consecutive loss on chip shortage
TOKYO — Nissan Motor forecasts a net loss of 60 billion yen ($551 million) in the year ending March 2022, the company said Tuesday, as a global semiconductor shortage continues to drag on its operations. That will mean a third consecutive year of losses for the company, although the forecast figure is substantially lower than… Continue reading Nissan heads for third consecutive loss on chip shortage
SK battery materials affiliate surges in Seoul market debut
SEOUL — SK IE Technology, the battery materials affiliate of SK Innovation, made a strong debut on the Seoul stock market on Tuesday, with its shares initially doubling above the initial public offering price before giving up a chunk of their early gains. SK IET raised $2.2 trillion won ($2 billion) in its IPO, floating 21.4 million shares at… Continue reading SK battery materials affiliate surges in Seoul market debut
Toyota production to top 10m for first time in fiscal 2022
TOKYO — Toyota Motor plans to produce a total of 10.4 million units globally combining its Toyota and Lexus brands for the fiscal year 2022 ending in March 2023, Nikkei learned Saturday. This marks the first time the auto group will top 10 million units, boosted by increased demand in the wake of successful vaccination… Continue reading Toyota production to top 10m for first time in fiscal 2022
Honda pauses Indian auto production amid virus surge
MUMBAI — Honda Motor suspended auto manufacturing operations in India on Friday, broadening a production shutdown in the country as a massive coronavirus outbreak shows no sign of abating. The Japanese automaker moved up planned maintenance at its plant in the northwestern state of Rajasthan, which will remain shut down until May 18. The company already… Continue reading Honda pauses Indian auto production amid virus surge
Porsche’s hydrogen-based eFuel turns gas guzzlers into eco-cars
FRANKFURT, Germany/TOKYO — While other automakers race to field electrified vehicles, Porsche looks to develop a fuel that will keep its iconic gasoline-burning cars relevant in the decarbonization era. Porsche’s eFuel, which is under development, combines “green hydrogen” generated by renewable energy with carbon dioxide captured from the atmosphere. The methanol produced from the process is converted… Continue reading Porsche’s hydrogen-based eFuel turns gas guzzlers into eco-cars