TOKYO/TORONTO — With big plans for a North American electric-vehicle supply chain, Honda Motor is showing confidence in the outlook for the U.S. market for EVs despite some bumps in the road. The 15 billion Canadian dollar ($11 billion) investment announced Thursday — one of Honda’s largest to date — includes EV and battery factories… Continue reading Honda goes all-in on EVs in U.S., Canada despite slowdown worries
Author: Nikki News Feed
Chinese automakers show off AI-powered ‘smartphones on wheels’
BEIJING — XPeng, Geely and other Chinese automakers are showing off innovative new models at the Beijing International Automotive Exhibition, as competition in China shifts from EVs to AI with cars that are starting to resemble smartphones on wheels. “The next 10 years will be the decade of intelligence,” said He Xiaopeng, CEO of electric vehicle startup XPeng,… Continue reading Chinese automakers show off AI-powered ‘smartphones on wheels’
VinFast CEO to inject $1bn of personal wealth into Vietnam EV maker
HO CHI MINH CITY — The chief executive of VinFast will invest $1 billion of his own money into the Vietnamese electric vehicle maker to support the company as it deals with ballooning upfront spending. Pham Nhat Vuong made his pledge Thursday during a shareholders meeting of parent conglomerate Vingroup. Vuong, the founder and chairman of Vingroup, is… Continue reading VinFast CEO to inject $1bn of personal wealth into Vietnam EV maker
Toyota to invest $1.4bn to bolster EV output in U.S.
TOKYO — Toyota Motor announced Friday that it will invest $1.4 billion to start production of electric vehicles at its factory in the U.S. state of Indiana in 2026, increasing its EV capacity in North America. Toyota Motor Manufacturing, Indiana, which has more than 7,500 employees, will become the Japanese auto maker’s second EV plant… Continue reading Toyota to invest $1.4bn to bolster EV output in U.S.
Hyundai Motor Q1 profit falls as EV demand weakens
SEOUL — Hyundai Motor’s operating profit fell slightly in the first quarter from the same period a year ago on subdued growth in the global electric vehicle market as hybrid cars find more favor with consumers. The automaker, the world’s third-largest in tandem with smaller affiliate Kia, said on Thursday that its operating profit reached… Continue reading Hyundai Motor Q1 profit falls as EV demand weakens
Toyota teams up with Tencent for drive into China’s EV market
BEIJING — Toyota Motor said on Thursday that it is forming a strategic alliance with Chinese internet giant Tencent Holdings, cooperating in artificial intelligence, cloud computing and big data for electric vehicles sold by the Japanese auto company in China. Demand for EVs in China has been growing rapidly, but Toyota has been struggling in… Continue reading Toyota teams up with Tencent for drive into China’s EV market
Beijing auto show welcomes world as China’s carmakers aim to conquer it
HONG KONG — Beijing’s premier automobile exhibition is back after a four-year hiatus, highlighting how Chinese automakers have pushed the electrification of the world’s largest car market while expanding their own global footprints. Auto China, which opened to the media on Thursday, throws its doors open to the general public on Monday. It will run… Continue reading Beijing auto show welcomes world as China’s carmakers aim to conquer it
South Korea GDP grows 1.3% in first quarter, beating estimates
SEOUL — South Korea’s GDP growth accelerated in the first quarter of this year, boosted by increased construction activity and higher private spending, the Bank of Korea announced on Thursday. The central bank announced in an advance estimate that gross domestic product in Asia’s fourth-largest economy grew 1.3% during the January-to-March period compared with the previous quarter. Go… Continue reading South Korea GDP grows 1.3% in first quarter, beating estimates
Nidec faces market pressure as founder rips ‘unfair’ China EV war
TOKYO — Cutthroat competition in China’s electric vehicle sector has cast a shadow over the earnings of suppliers like Japanese motor maker Nidec, which is grappling with narrowing margins in the key market. China’s EV market is “unfair” and creates “unhealthy competition,” Shigenobu Nagamori, founder and executive chairman of the motor maker, said at an… Continue reading Nidec faces market pressure as founder rips ‘unfair’ China EV war
Hyundais and houses: Japan electronics chain to sell EV-home bundles
TOKYO — Yamada Holdings, the operator of Japan’s largest home electronics retail chain, will begin selling Hyundai Motor electric vehicles this week, Nikkei has learned. Known mostly for its flagship Yamada Denki chain, Yamada Holdings is also involved in real estate and other industries. It will sell Hyundai EVs bundled with homes, using some Yamada… Continue reading Hyundais and houses: Japan electronics chain to sell EV-home bundles