HONG KONG — Few foreign automobile companies have enjoyed the kind of policy support Tesla has had in China — but Beijing’s latest action towards Elon Musk’s company is a shot across the bows not to take its lofty position in the world’s largest car market for granted. Tesla’s executives in Shanghai and Beijing have… Continue reading Tesla and Musk risk wearing out China welcome over quality fears
Author: Nikki News Feed
Nissan and Honda fear fallout from chip crunch
TOKYO — Nissan Motor and Honda Motor on Tuesday both acknowledged heavy burdens to their businesses triggered by semiconductor shortages, with both Japanese car companies cutting their estimates for vehicle sales this fiscal year. The carmakers have revised upwards their full-year bottom line forecasts through March, the second time since November, as they push cost-cutting… Continue reading Nissan and Honda fear fallout from chip crunch
Suzuki to offer hybrid-powered models for all ‘kei’ minicars
TOKYO — Suzuki Motor will aim to equip all of its minivehicles with simple hybrid systems in a few years, Nikkei has learned, as the automobile industry weathers a storm of change amid intensifying competition. The Japanese automaker also plans to develop fuel-efficient high-performance hybrid vehicles and electric vehicles. Japan’s signature miniature vehicles, known as… Continue reading Suzuki to offer hybrid-powered models for all ‘kei’ minicars
Tesla’s Musk drives up bitcoin price with $1.5bn purchase
Bitcoin took another large stride toward mainstream acceptance on Monday after billionaire Elon Musk’s electric vehicle company Tesla revealed it had bought $1.5 billion of the cryptocurrency and would soon accept it as a form of payment for cars, sending the cryptocurrency shooting higher. The announcements, buried deep in Tesla’s 2020 annual report, drove a… Continue reading Tesla’s Musk drives up bitcoin price with $1.5bn purchase
Southeast Asia auto sales plunge 29% in 2020 on virus impact
BANGKOK — Sales of new autos in six major Southeast Asian markets declined for a second straight year in 2020, falling 29% as the coronavirus pandemic weighed on the industry. Total sales in Thailand, Indonesia, Malaysia, Vietnam, the Philippines and Singapore sank to 2.44 million vehicles. In April alone, the tally plummeted roughly 80% as authorities imposed restrictions… Continue reading Southeast Asia auto sales plunge 29% in 2020 on virus impact
Tesla summoned by Chinese regulators over car malfunctions
HONG KONG — Tesla has been summoned to meet with China’s market regulator and four other central government departments over customer complaints about vehicle malfunctions. The statement published by the State Administration for Market Regulation on its website on Monday evening said Chinese consumers had complained about unusual acceleration, battery fires and problems with updating the… Continue reading Tesla summoned by Chinese regulators over car malfunctions
Indian automakers make profits surpassing pre-COVID levels
MUMBAI — Indian auto companies witnessed a sharp recovery in earnings in the last quarter of 2020, as the festival season boosted sales despite an economic slowdown and rising cases of COVID-19. The top three auto manufacturers — Maruti Suzuki India, Tata Motors and Mahindra & Mahindra — all posted profits for the first time since the pandemic hit in… Continue reading Indian automakers make profits surpassing pre-COVID levels
Hyundai and Kia deny talks with Apple on self-driving cars
SEOUL — Hyundai Motor said on Monday that it is not in talks with Apple to develop self-driving cars, denying early reports that the South Korean automaker was close to completing a joint production deal with the U.S. tech company. Hyundai, and its affiliate Kia Motors, which had been rumored to be negotiating to make… Continue reading Hyundai and Kia deny talks with Apple on self-driving cars
Tesla tells nickel-rich Indonesia it wants to join battery project
JAKARTA — U.S. electric vehicle maker Tesla has proposed joining Indonesia’s plans to create an EV battery supply chain within the country, a senior Indonesian government official said on Friday. The government received Tesla’s proposal on Thursday, Septian Hari Seto, deputy for investment and mining at the Coordinating Ministry of Maritime Affairs and Investment, said… Continue reading Tesla tells nickel-rich Indonesia it wants to join battery project
Chipmaker Xilinx says car supply crunch goes beyond semiconductors
TAIPEI — U.S. chipmaker Xilinx has warned that the supply crunch affecting the auto industry will not be quickly resolved, saying problems extend beyond semiconductor manufacturing to supplies of other materials and components. Victor Peng, Xilinx president and CEO, told Nikkei Asia in an interview that he hoped a serious shortage would not be prolonged… Continue reading Chipmaker Xilinx says car supply crunch goes beyond semiconductors