TOKYO — In a further strategic shift following the departure of Carlos Ghosn as chairman, Nissan Motor will stop producing its Datsun compact car in Indonesia and Russia from next year, Nikkei has learned. The decision comes as Makoto Uchida replaces Hiroto Saikawa as Nissan’s chief executive on Sunday. Under Ghosn’s leadership, Datsun has been marketed over… Continue reading Nissan pulls Datsun compacts from Southeast Asia and Russia
Author: Nikki News Feed
Southeast Asia slump sets off alarm bells at Japan’s automakers
BANGKOK/JAKARTA — Southeast Asia’s automobile market is headed toward shrinking for the first time in four years due to a markedly strong Thai baht and a slowing global economy that has strained corporate and consumer confidence. A market contraction will deal a blow to Japanese automakers, which enjoy outsized shares in the region’s production and sales. Despite the downturn,… Continue reading Southeast Asia slump sets off alarm bells at Japan’s automakers
Bajaj Auto backs ride-sharing platform Yulu in EV push
MUMBAI (NewsRise) — Bajaj Auto‘s investment in electric cycle-sharing platform Yulu underscores the rush of conventional two-wheeler makers in India to gain a toe-hold in the growing electric-vehicle market. Bajaj has already unveiled its first electric scooter, marking the return of its marquee brand ‘Chetak.’ The Pune, western India-based company, which exited the scooter market… Continue reading Bajaj Auto backs ride-sharing platform Yulu in EV push
China-owned MG challenges Japanese dominance of SE Asian auto market
BANGKOK — Cars produced under the long-established British-brand MG by a joint venture between China’s SAIC Motor and Thailand’s conglomerate Charoen Pokphand Group are racing ahead. Since its entry into the Thai auto market dominated by Japanese carmakers several years ago, MG has gradually strengthened its presence, overtaking Japan’s Suzuki Motor in terms of market share in the first nine… Continue reading China-owned MG challenges Japanese dominance of SE Asian auto market
WeWork meltdown hasn’t changed Grab’s plans, co-founder says
SINGAPORE — The co-founder of Grab, which has become one of Southeast Asia’s most valuable tech startups in just seven years, says the group’s ride-hailing and payment business can help society while making financial sense. Tan Hooi Ling stressed that the ideas of a “path to profitability” and “sound unit economics” — phrases often heard… Continue reading WeWork meltdown hasn’t changed Grab’s plans, co-founder says
Great Wall’s recovery seen to be temporary as shares surge
HONG KONG (Nikkei Markets) — The tailwinds that led to Great Wall Motor‘s unexpectedly strong show, propelling its shares on Monday, are unlikely to last for long, say some analysts. The Chinese sports utility vehicle and sedan maker late on Friday said its profit soared more than 500% year-on-year in the third quarter following a… Continue reading Great Wall’s recovery seen to be temporary as shares surge
Indian antitrust watchdog throws Hyundai-Kia-Ola deal in doubt
BANGALORE — The Competition Commission of India, an antitrust watchdog, has thrown into disarray a plan by South Korean automaker Hyundai and its affiliate Kia Motor to invest $300 million in ride-hailing unicorn Ola. In response to an application sent by the three companies seeking approval, the regulator asked Ola’s parent ANI Technologies to outline the impact on competition… Continue reading Indian antitrust watchdog throws Hyundai-Kia-Ola deal in doubt
Toyota trawls for big spenders with $4m Lexus yacht
TOKYO — Toyota Motor has unveiled the first yacht under its Lexus luxury brand, with a 450 million yen ($4.17 million) price tag in Japan that aims it squarely at the super-rich. The LY 650 will launch in Japan, the U.S. and Canada on Oct. 30. The 20-meter vessel combines Toyota’s shipbuilding expertise with the… Continue reading Toyota trawls for big spenders with $4m Lexus yacht
Scooter-sharing kicks off in Japan in next stage of sharing
TOKYO — Honda Motor has launched Japan’s first scooter-sharing service, teaming with a SoftBank-backed startup in an effort to help offset falling motorbike sales in the country. The service, which kicked off in Tokyo on Friday, is dubbed Hello Scooter and works just like bike-sharing programs. It lets users rent Honda’s roofed Gyro Canopy three-wheeler by using a dedicated… Continue reading Scooter-sharing kicks off in Japan in next stage of sharing
Isolation and distrust brought down Nissan CEO Saikawa
TOKYO — Nissan Motor CEO Hiroto Saikawa’s upcoming resignation on Monday may have been triggered by allegations that he inflated his compensation, but the root of the problem lies in his failure to earn the trust of fellow executives. Nissan management was rattled by a Wall Street Journal article in early August that reported on… Continue reading Isolation and distrust brought down Nissan CEO Saikawa