PARIS — For years, Chinese automobile makers have failed to enter the European market, known to be mature and conservative. But last year’s unexpected boom in sales of electric vehicles in Europe is expected to change the game. One of China’s major EV makers, Xpeng, announced late December that it would start delivering its G3… Continue reading Chinese EV maker Xpeng and rivals bet on European market
Author: Nikki News Feed
Honda to stop selling cars in Russia in 2022 after failing to make dent
TOKYO — Honda Motor will end sales of new autos in Russia in 2022, bowing out of a market where sales have languished as part of a broader consolidation. The move, announced by the Tokyo-based carmaker’s local arm, is “a step toward restructuring and rightsizing our business,” said a Honda public relations representative in Japan. Honda’s… Continue reading Honda to stop selling cars in Russia in 2022 after failing to make dent
Panasonic to build prototypes of new Tesla battery in 2021
OSAKA — Panasonic will begin production as early as next year of prototypes of a new, cheaper type of battery for Tesla electric vehicles. The cylindrical cell, plans for which were announced in September by Tesla CEO Elon Musk, was developed in-house by Panasonic at Tesla’s request. It is larger than the automaker’s current batteries, at… Continue reading Panasonic to build prototypes of new Tesla battery in 2021
BYD’s EV battery recycling goes global with Itochu
TOKYO/GUANGZHOU — Chinese electric vehicle maker BYD will transform old EV batteries into power storage for rewnewable energy and factories across the globe in a new partnership with a Chinese startup and Japanese trading house Itochu. The ship-container-sized power units will begin to go on sale as early as fiscal 2021 Asia, the U.S. and Europe.… Continue reading BYD’s EV battery recycling goes global with Itochu
LG Electronics signs $1bn EV parts venture with Canada’s Magna
SEOUL (Financial Times) — LG Electronics will spin off part of its electric vehicle components business and set up a $1 billion joint venture with Canada’s Magna International — a deal that is aimed at capturing a bigger share of the fast-growing global EV parts market and which lifted its shares by nearly one-third. The South… Continue reading LG Electronics signs $1bn EV parts venture with Canada’s Magna
Toyota to halt plants in Europe as COVID variant disrupts traffic
LONDON — Toyota Motor’s European subsidiary has revealed it will suspend operations at its factories in the U.K. and France on Tuesday in response to the spread of the coronavirus variant that has stopped the flow of logistics between the countries. The factories were planned to close for winter vacation on Thursday, but Toyota has… Continue reading Toyota to halt plants in Europe as COVID variant disrupts traffic
Chipmaker Renesas extends China reach with FAW research lab
TOKYO — Japanese chipmaker Renesas Electronics has established a joint research center in China with local automaker FAW Group to develop technologies for electric and self-driving cars in the world’s biggest auto market. The partnership “will drive further development and innovation for China’s automotive industry,” Tomomitsu Maoka, chairman of Renesas Electronics China, said in a… Continue reading Chipmaker Renesas extends China reach with FAW research lab
Nissan picks Japan, not Britain, to make Ariya electric car for EU
TOKYO — Nissan Motor has decided against manufacturing its newest electric vehicle in the U.K. for sale in the European Union, Nikkei has learned, over concerns that the automobile will face higher tariffs in the absence of a post-Brexit trade deal. Instead, Nissan will ship the Ariya from Japan when the vehicle goes on sale in the… Continue reading Nissan picks Japan, not Britain, to make Ariya electric car for EU
Fiat Chrysler to spend $150m on global tech center in India
NEW DELHI (Reuters) — Fiat Chrysler Automobiles NV (FCA) on Wednesday said it plans to spend $150 million to set up a global technology center in the southern Indian city of Hyderabad. The center will create nearly 1,000 jobs by the end of 2021, and will focus on development for future mobility in areas such… Continue reading Fiat Chrysler to spend $150m on global tech center in India
Honda’s UK output to resume on Monday after parts delays
LONDON (Reuters) — Honda said car production at its British factory will resume on Monday after transport-related parts delays halted output since Wednesday. “Honda of the UK Manufacturing has confirmed to employees that full production operations will resume in all areas on Monday 14 December,” the firm said in a statement. Britain’s major container ports have… Continue reading Honda’s UK output to resume on Monday after parts delays