BEIJING — Geely, China’s largest private-sector automaker, has taken the first step toward becoming the Foxconn of electric vehicles. Geely and Foxconn, the Taiwanese Apple assembler, are establishing a 50-50 joint venture that will manufacture whole electric vehicles for clients as well as parts. Just like Foxconn did with iPhones, Geely will pursue an economy… Continue reading Geely taps Foxconn’s playbook to build EVs for other carmakers
Author: Nikki News Feed
Chinese EV startups’ sales accelerate despite pressure from Tesla
HONG KONG — China’s emerging electric vehicle brands have reported strong sales and narrowed losses last year despite Tesla’s aggressive pricing strategy to gain customers in the world’s largest auto market. While overall car sales have declined for three consecutive years in China due to a slowing economy, sales of electric vehicles are still growing… Continue reading Chinese EV startups’ sales accelerate despite pressure from Tesla
Nissan and Mitsubishi to roll out electric minicar for under $18,000
TOKYO — Nissan Motor and Mitsubishi Motors plan to launch an electric minicar as early as next year that will cost consumers less than 2 million yen ($18,400) with subsidies, close to the price of a conventional gasoline car. The alliance partners are jointly developing a so-called kei car with a common platform and battery… Continue reading Nissan and Mitsubishi to roll out electric minicar for under $18,000
Scrappy electric carmakers upend pecking order in auto industry
TOKYO — The accelerating trend to e-mobility will lead to a paradigm shift in the global car market that could radically change the landscape for the industry. Tesla has emerged as the early leader in the high-stakes electric vehicle race, topping the list of EV manufacturers. No Japanese manufacturer is among the top 10. Apple… Continue reading Scrappy electric carmakers upend pecking order in auto industry
LG Chem agrees to cover most of Hyundai’s $900m EV recall
SEOUL — South Korea’s LG Chem has agreed to shoulder 70% of the cost of a nearly $900 million recall of Hyundai Motor electric vehicles at risk of battery fires. The 1 trillion won ($890 million) recall covering 81,700 vehicles — mainly Kona and Ioniq cars sold in South Korea, the U.S. and Europe —… Continue reading LG Chem agrees to cover most of Hyundai’s $900m EV recall
Tencent-backed Aiways breaks into Europe and China EV market
SHANGHAI — Chinese electric vehicle startup Aiways is expanding its sales footprint in Europe, where more electric cars were sold last year than in China. Aiways has pursued this strategy since it was founded in 2017, as it looks to grow outside China’s fiercely competitive domestic market. The Shanghai-based pure-play EV manufacturer sealed deals with… Continue reading Tencent-backed Aiways breaks into Europe and China EV market
Honda launches world’s first level 3 self-driving car
TOKYO — Honda Motor will on Friday launch a new car equipped with the world’s first certified level 3 autonomous driving technology, paving the way for the automobile industry to gear up efforts to commercialize such automation for passenger vehicles. Industry experts are cautiously watching to see if the Legend, a luxury sedan that operates… Continue reading Honda launches world’s first level 3 self-driving car
Austria’s Magna helps Sony and carmakers in race for EVs
TOKYO/FRANKFURT, Germany — Magna Steyr of Austria, the world’s largest contract manufacturer of automobile bodies, is drawing attention as new entrants in the auto industry from other sectors increase amid a global shift to electric vehicles. Magna, which counts Sony among its clients, is becoming the Foxconn of the auto industry, company President Frank Klein… Continue reading Austria’s Magna helps Sony and carmakers in race for EVs
Volvo to go all electric by 2030 as it unveils second such model
LONDON (Reuters) — Volvo’s entire car lineup will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of carmakers planning to phase out fossil-fuel engines by the end of this decade. “I am totally convinced there will be no customers who really want to stay with a petrol engine,”… Continue reading Volvo to go all electric by 2030 as it unveils second such model
Investors cheer second Japanese takeover by China’s Hisense
HONG KONG — A unit of Hisense Group, a major home-electronics maker in China, has reached a deal to purchase a controlling stake in a Japanese auto parts company, pushing the subsidiary’s shares up 10% in mainland trading on Tuesday. Hisense Home Appliances Group, a subsidiary of Hisense Group, announced after the market closed on… Continue reading Investors cheer second Japanese takeover by China’s Hisense