HONG KONG (Nikkei Markets) — Asian shares outside of Japan tumbled Monday amid rising fears that the novel coronavirus is spreading rapidly outside of China. The Nikkei Asia300 index of companies outside Japan fell 2.4% to 1,317.01. Futures on the S&P 500 Index dropped 2.7% on Monday and South Korean equities led Asian shares lower… Continue reading Asian equities tumble as coronavirus spreads outside China
Author: Nikki News Feed
Malaysia revamps auto policy with third national car in mind
KUALA LUMPUR — Malaysia unveiled on Friday a much-delayed automotive policy, hoping to stay ahead of Thailand and Indonesia by shifting the focus from energy-efficient cars to next-generation vehicles production for the region. The National Automotive Policy 2020 also sought to redefine its national car classifications to accommodate a third national car maker, after China’s Geely-backed Proton… Continue reading Malaysia revamps auto policy with third national car in mind
Nissan sues Carlos Ghosn for $90m in damages
TOKYO (Kyodo) — Nissan Motor Co. said Wednesday it has filed a 10 billion yen ($90 million) damages suit against former Chairman Carlos Ghosn over “his corrupt practices,” staging a face-off with the fugitive former boss who has accused the automaker of “conspiracy” to oust him. Nissan said the lawsuit at the Yokohama District Court… Continue reading Nissan sues Carlos Ghosn for $90m in damages
Mazda delays restart of Chinese factories amid coronavirus threat
TOKYO — Mazda Motor has decided to postpone restarting production at its Chinese factories until after Feb. 17 due to the ongoing coronavirus threat. The Japanese automaker had planned to resume operations at its main factory after Feb. 12, but has delayed the reopening to next week as it struggles to deal with supply chain… Continue reading Mazda delays restart of Chinese factories amid coronavirus threat
Mahindra unveils $11,000 electric SUV as India goes green
NEW DELHI — Major Indian automakers touted their commitment to electric vehicles as Auto Expo 2020 opened to the public Friday, though each embraced a different strategy toward preparing for stronger emissions standards that take effect nationwide in April. Mahindra & Mahindra focused on affordability in India, unveiling an electric sport utility vehicle priced at… Continue reading Mahindra unveils $11,000 electric SUV as India goes green
Indian automakers face parts shortage as China epidemic hits supply chain
MUMBAI (NewsRise) — Indian automakers are bracing for a shortage of components as the coronavirus outbreak in China hinders supplies to an industry battling to come out of a prolonged slowdown. The outbreak of the deadly virus has sent global financial markets into a tizzy as a lockdown in China is feared to trigger a… Continue reading Indian automakers face parts shortage as China epidemic hits supply chain
Honda and Toyota to keep Chinese plants closed over virus fears
TOKYO — Honda Motor and Toyota Motor will keep shuttered auto plants in China closed in response to the coronavirus epidemic, Nikkei has learned. Honda on Friday announced that it will aim to restart production in the Wuhan area of Hubei Province on Feb. 17. On Jan. 29, it decided to suspend operations until Feb. 9 in response to a… Continue reading Honda and Toyota to keep Chinese plants closed over virus fears
Toyota designs electric car with batteries reusable in homes
NAGOYA, Japan — Toyota Motor is preparing to release a new ultracompact electric vehicle with a standardized battery that can be easily reused in homes. By the end of this year, the automaker aims to introduce the model designed for one or two people. The cars would be leased for several years, with scheduled battery checks over… Continue reading Toyota designs electric car with batteries reusable in homes
Lack of R&D funding leaves Japan Inc. in digital age dust
TOKYO — Corporate Japan, once renowned for technological innovation, is not only lagging behind the U.S. in research and development spending but is becoming less eager to take risk and invest in untested fields. Amazon.com, Facebook, Apple, Microsoft and Google parent Alphabet alone are set to outspend all Japanese companies combined. Analyst projections compiled by QUICK-FactSet… Continue reading Lack of R&D funding leaves Japan Inc. in digital age dust
Toyota launches car rental business in China
NAGOYA, Japan — Toyota Motor has launched a car rental business for tourists in China as the local market grows due to wider use of mobile payment services. Toyota Financial Services, a Nagoya-based subsidiary of the Japanese automaker, and Toyota’s Chinese arm have set up a new company to run the business, together with local dealers.… Continue reading Toyota launches car rental business in China