BANGKOK — The rush of Chinese automakers into Thailand’s electric vehicle market is fueling a race to the bottom on prices, but heated competition in a soft market has raised alarms, prompting at least one player to turn to hybrids. At the Bangkok International Motor Show earlier this spring, Chinese EV giant BYD’s booth at… Continue reading Chinese EV makers bring price war to Thailand even as sales sag
Author: Nikki News Feed
NIKKEI Film: In search of bus drivers
With Japan on April 1 beginning to enforce strict limits on drivers’ working hours, the country is grappling with what has become known as the “2024 problem.” The situation has left bus operators with a critical shortage of drivers, forcing them to cut back service and cancel a slew of routes. In late March, a… Continue reading NIKKEI Film: In search of bus drivers
Geely’s Zeekr seeks up to $5.13bn valuation in U.S. IPO
(Reuters) — Electric-vehicle maker Zeekr Intelligent Technology Holding said on Friday it was targeting a valuation of up to $5.13 billion in its U.S. initial public offering, the first major floatation by a China-based company in more than two years. Zeekr is looking to raise up to $367.5 million by selling 17.5 million American depositary… Continue reading Geely’s Zeekr seeks up to $5.13bn valuation in U.S. IPO
U.S. delays ban on Chinese graphite for EV tax credits
WASHINGTON (Reuters) — The U.S. Treasury Department on Friday gave automakers additional flexibility on battery mineral requirements for electric vehicle tax credits on some crucial trace minerals from China, such as graphite. The department said it would give automakers until 2027 to remove some hard-to-trace minerals like graphite contained in anode materials and critical minerals contained in electrolyte salts, binders and… Continue reading U.S. delays ban on Chinese graphite for EV tax credits
Fatal car crash mars Huawei’s efforts to break into EV market
A fatal car accident involving a Huawei Technologies co-branded premium electric vehicle has tarnished the Chinese tech giant’s attempt to break into the auto market through partnerships with carmakers. On April 26, an Aito M7 Plus — the result of a collaboration between Huawei and one of its auto partners, Shanghai-traded Seres Group — rear-ended… Continue reading Fatal car crash mars Huawei’s efforts to break into EV market
Toyota group member’s Cambodian auto plant builds on African success
PHNOM PENH — Toyota Tsusho began operations at an auto assembly plant here Thursday, looking to use a successful African strategy to capture demand in the developing Southeast Asian country of Cambodia. “The start of assembly production marks a new milestone in the more than 30 years of Toyota Tsusho’s history in Cambodia,” said Ichiro… Continue reading Toyota group member’s Cambodian auto plant builds on African success
Why one of Japan’s biggest real estate projects is tapping Toyota
TOKYO — When Japanese developer Mitsui Fudosan laid out a 900 billion yen ($5.8 billion) redevelopment plan this week for the former site of Tokyo’s famed Tsukiji fish market, one name stood out on the list of partner companies: Toyota. The automaker’s real estate affiliate, Toyota Fudosan, will join the 11-member consortium led by Mitsui Fudosan… Continue reading Why one of Japan’s biggest real estate projects is tapping Toyota
China’s BYD, Neta eye growth in Indonesia with new EV investments
JAKARTA — Chinese electric vehicle makers BYD and Neta Auto are poised to challenge Japan’s dominance in Indonesia’s car market, announcing new investment plans and rolling out their latest models at an auto show in Jakarta. Indonesian property developer Suryacipta Swadaya on Tuesday announced that BYD will build a $1 billion factory on 1.08 sq.… Continue reading China’s BYD, Neta eye growth in Indonesia with new EV investments
Tesla to work with Baidu in push to offer self-driving tech in China
HONG KONG — Tesla is moving closer to introducing its self-driving system in China, the U.S. automaker’s biggest overseas market, following founder Elon Musk’s surprise visit to the country. The electric vehicle maker “recently” struck a deal with Chinese tech giant Baidu to use the latter’s mapping and navigation functions, a source familiar with the… Continue reading Tesla to work with Baidu in push to offer self-driving tech in China
China’s EV overcapacity spurs global fears of more price cuts
BEIJING/TOKYO — Electric vehicle production capacity in China continues to expand at breakneck speed despite being vastly larger than domestic demand, fanning fears that manufacturers will export vehicles abroad at cut-throat discounts. The break-even point for factory utilization in the automotive industry is usually around 80%, but the level for new energy vehicles, which includes EVs, is only… Continue reading China’s EV overcapacity spurs global fears of more price cuts