TOKYO — Nissan Motor will expand its auto subscription service nationwide in Japan to entice customers who have soured on both new-vehicle purchases and car-sharing amid the pandemic. Nissan launched its ClickMobi car subscription service in March, offering a car for as little as $230 a month. The service, now available in 23 of Japan’s 47 prefectures as… Continue reading Nissan revs up subscriptions as car-sharing takes back seat
Author: Nikki News Feed
Toyota sources crucial steel product from China’s Baowu
TOKYO — Toyota Motor will procure some of its electrical steel sheet from China Baowu Steel Group, China’s largest steel supplier, in a move that could presage an era in which Japanese steel-makers will have to compete on price as well as quality, Nikkei has learned. Steel sheet is a high-performance product and a crucial… Continue reading Toyota sources crucial steel product from China’s Baowu
Late bloomer Hyundai speeds past BYD in electric vehicle sales
SEOUL — Hyundai Motor, once a perennial also-ran in next-generation autos, has rapidly gained ground against rivals, surpassing Chinese peer BYD to take fourth place in the global electric vehicle market. The South Korean automaker held an 8% market share in the first quarter of this year, selling 24,000 vehicles, compared with BYD’s 6%, according… Continue reading Late bloomer Hyundai speeds past BYD in electric vehicle sales
Indonesian auto startup TiinTiin raises over $2.5m in seed round
JAKARTA — Indonesian used automobile marketplace TiinTiin.id announced on Wednesday it has raised over $2.5 million in a seed round led by CEO Rolf Monteiro, Singapore-based Amand Ventures and PT Luminary Media Nusantara. The startup, which was launched in the second quarter of this year, will deploy the proceeds to accelerate its growth into new… Continue reading Indonesian auto startup TiinTiin raises over $2.5m in seed round
Carmakers in Southeast Asia are reluctant to hit the accelerator
BANGKOK — Automakers operating in Southeast Asia are moving in low gear as they bring plants back online after weeks of suspended production due to the coronavirus pandemic. Safety protocols and weak sales force them to proceed slowly in restarting operations. Since May, most Southeast Asian nations have been easing restrictions on business operations and people’s movements that were introduced to contain the outbreak.… Continue reading Carmakers in Southeast Asia are reluctant to hit the accelerator
Thai startup raises $80m from Toyota and others amid pandemic
TOKYO — Bangkok-based fintech startup Synqa Holdings is looking to capture a slice of growing demand for cashless transactions in Asia by taking advantage of $80 million it recently raised. Synqa, formerly known as Omise Holdings, completed its Series C funding led by Siam Commercial Bank‘s venture capital subsidiary SCB 10X and Tokyo-listed asset manager… Continue reading Thai startup raises $80m from Toyota and others amid pandemic
Honda drives drastic R&D reforms to reverse slow auto business
TOKYO — After Takahiro Hachigo took over at Honda Motor in 2015, the Japanese automaker has implemented a string of reforms to shore up its auto business, including closing plants at home and abroad and shaking up supply chains. But it left one entity untouched — Honda R&D, its crown jewel research unit, once headed… Continue reading Honda drives drastic R&D reforms to reverse slow auto business
India’s Tata Motors cuts investment by $1.5bn to hold cash
TOKYO — Leading Indian automaker Tata Motors will cut its investment spending for the current fiscal year to March 2021 by $1.5 billion versus the previous year to preserve cash as the novel coronavirus pandemic eviscerates demand for cars. The cutback follows the company’s net loss of 120 billion rupees ($1.6 billion) in the fiscal… Continue reading India’s Tata Motors cuts investment by $1.5bn to hold cash
Explosion at Honda Motor plant in central Japan injures 2
TSU, Japan (Kyodo) –An explosion at a Honda Motor plant in Mie Prefecture, central Japan, seriously injured two men on Sunday, police said. The blast occurred at around 9:15 a.m. near an electrical power distribution board at the Japanese automaker’s Suzuka factory in Suzuka city, the police said. The two men, who were nearby, sustained… Continue reading Explosion at Honda Motor plant in central Japan injures 2
China passenger car sales in May mark first gain in 2 years
SHANGHAI — New-vehicle sales in China have increased the past two months, recording 14.5% annual growth in May to 2.194 million units and stoking optimism in the world’s largest auto market, which had slumped due to the coronavirus pandemic. The news reflects continued growth in the sector, which rose 4.4% in April. The figure for May… Continue reading China passenger car sales in May mark first gain in 2 years