GUANGZHOU — China’s Contemporary Amperex Technology Co. Ltd. (CATL), the world’s top supplier of electric-vehicle batteries, will partner with Volvo Car Group to recycle them for industrially critical minerals. Under a deal signed Tuesday, old batteries used in Volvo Car vehicles in China will be collected and processed to extract such metals as nickel, cobalt… Continue reading China’s CATL to recycle EV batteries with Volvo Car
Author: Nikki News Feed
China’s flying cars ready for liftoff with EV technology
GUANGZHOU — XPeng, EHang and other Chinese companies are commercializing flying cars this year, tapping the country’s advantages in electric car technologies to claim a large share of the emerging global market. XPeng AeroHT, a subsidiary of the electric vehicle startup, aims to sell a dual-mode electric vertical take-off and landing (eVTOL) vehicle, which can drive on… Continue reading China’s flying cars ready for liftoff with EV technology
Japan’s small EV battery suppliers feel the heat in race for scale
TOKYO — Smaller companies play a big role in Japan’s electric vehicle battery supply chain, indirectly supporting the likes of Toyota Motor and Tesla. But many are struggling to keep pace with the speed and scale of investment needed as EV demand booms, threatening to create bottlenecks in an industry that Tokyo is keen to… Continue reading Japan’s small EV battery suppliers feel the heat in race for scale
To beat China EVs on cost, Honda supplier and ArcelorMittal look beyond gigacasting
TOKYO — Honda Motor group supplier G-Tekt will partner with global steelmaking giant ArcelorMittal on a cheaper alternative to casting auto chassis parts that promises to reduce the cost of making electric vehicles, Nikkei has learned. G-Tekt will receive technology on license from Luxembourg-based ArcelorMittal that will be used to form EV body sections combining around five to 10… Continue reading To beat China EVs on cost, Honda supplier and ArcelorMittal look beyond gigacasting
Japan automaker profits expected to slow after blockbuster year
TOKYO — Profit growth at six leading Japanese automakers is expected to slow in fiscal 2024 as they enjoy less room to raise output but face rising costs. Toyota Motor, Honda Motor, Nissan Motor, Suzuki Motor, Subaru and Mazda Motor all forecast net profit increases for the year ended March 31, with Toyota, Honda, Nissan… Continue reading Japan automaker profits expected to slow after blockbuster year
Toyota recalls Prius cars, halts orders due to faulty door switches
TOKYO (Reuters) — Toyota Motor has recalled more than 135,000 Prius hybrid cars in Japan and suspended taking new orders for the model due to a problem with rear door handles. The cars being recalled were manufactured between November 2022 and April 2024, according to a transport ministry filing. No accidents have been reported due… Continue reading Toyota recalls Prius cars, halts orders due to faulty door switches
Vietnam’s top steelmaker Hoa Phat races to open new mill this year
HANOI — Leading Vietnamese steelmaker Hoa Phat Group plans to open its newest mill this year, eager to capture demand from the country’s growing automobile industry. The Dung Quat 2 steel mill was about 50% complete at the end of March, as work on the 85 trillion dong ($3.38 billion) facility proceeds at a fever pitch. Go to Source
Huawei expands EV self-driving tech as Xiaomi brings new competition
China’s Huawei Technologies is putting its self-driving technology into a wider range of electric vehicles it offers through partnerships with automakers, hoping to head off new rivals like Xiaomi. Huawei’s new autonomous driving system will be introduced on the lowest-priced version of the S7 sedan from Luxeed, a brand from state-owned Chery Automobile. Go to Source
Tesla to cut workforce as China accelerates into EV sector
NEW YORK — Tesla CEO Elon Musk told employees on Monday that the electric vehicle giant is cutting 10% of its global workforce, marking the latest fallout from an intensifying EV price war as Chinese companies accelerate into the sector. Musk on Monday revealed plans to reduce costs through the layoffs while aiming to boost… Continue reading Tesla to cut workforce as China accelerates into EV sector
Tesla to cut more than 10% of global workforce as sales fall
BERLIN (Reuters) — Tesla is laying off more than 10% of its global workforce, an internal memo seen by Reuters on Monday shows, as it grapples with falling sales and an intensifying price war for electric vehicles. “About every five years, we need to reorganize and streamline the company for the next phase of growth,” CEO Elon… Continue reading Tesla to cut more than 10% of global workforce as sales fall