(Reuters) — Tesla will lay 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. The world’s largest automaker by market value had 140,473 employees globally as of December 2023, its latest annual report… Continue reading Tesla to lay off more than 10% of employees globally as sales fall
Author: Nikki News Feed
China’s Xiaomi jumps into EV market battle with gusto
BEIJING/TOKYO — Xiaomi, one of the world’s largest smartphone makers, has jumped into the electric vehicle market, releasing a model that is priced at less than half that of EVs offered by Tesla of the U.S. and Porsche of Germany, despite offering better performance than those prestigious brands. Envisioning a “dream car,” Xiaomi CEO Lei… Continue reading China’s Xiaomi jumps into EV market battle with gusto
NIKKEI Film: The power of fully driverless taxis in China
BEIJING — China leads the world in self-driving technology, arousing interest in whether its technology is authentic. A Nikkei reporter took a ride in a commercially operated, completely driverless taxi in Beijing, noting the details of its ride quality and safety. Amid increasing global competition to develop self-driving technologies, China is accelerating its research and development… Continue reading NIKKEI Film: The power of fully driverless taxis in China
China’s foreign auto joint ventures lose luster under EV onslaught
HONG KONG — For years, Chinese state-owned automakers could count on joint ventures with major foreign brands as a magic fuel for profit. But the latest earnings suggest those days may be ending, as newer solo players like BYD have ridden a wave of electrification in the world’s largest auto market, while foreign marques have… Continue reading China’s foreign auto joint ventures lose luster under EV onslaught
Toyota’s ‘Lunar Cruiser’ to join NASA-led moon mission
TOKYO — A vehicle known as the “Lunar Cruiser” that is being developed by companies including Toyota Motor to carry astronauts on the moon’s surface is set to join the U.S.-led program to revive manned exploration of Earth’s nearest neighbor. The Artemis project, led by NASA, also plans to send two Japanese astronauts to the… Continue reading Toyota’s ‘Lunar Cruiser’ to join NASA-led moon mission
Japan PM Kishida visits Toyota site in U.S. for planned battery plant
RALEIGH, North Carolina (Kyodo) — Japanese Prime Minister Fumio Kishida on Friday visited the site of a battery plant being constructed by Toyota Motor in North Carolina, aiming to pitch his country’s contributions to job creation and investment in the United States. Kishida, who has become the first Japanese prime minister to visit the U.S. as a state… Continue reading Japan PM Kishida visits Toyota site in U.S. for planned battery plant
Japan’s Terra Charge starts selling EV chargers in India
MUMBAI — Terra Charge, a Tokyo-based provider of electric vehicle charging services, has started selling its chargers to outside clients in India to expand its footprint in the market. Terra Charge anticipates demand from commercial facilities, ride-hailing operators, government agencies and individual customers. Prices for the chargers start at 12,000 rupees ($144). Go to Source
Thailand smiles at both Taiwan and China as it courts EV investment
BANGKOK — Thailand has seen a rise in investment from Taiwan as the Southeast Asian nation seeks to build up its electric-vehicle and chip industries, even as it stays open for business with mainland China. One of the newest symbols of this expansion is a plant by Taiwan’s Delta Electronics in an industrial park in… Continue reading Thailand smiles at both Taiwan and China as it courts EV investment
China’s EV-powered auto sales rebound, refreshing quarterly high
SHANGHAI — China’s vehicle sales rebounded in March, pushing first-quarter shipments to a new post-pandemic high, an industry group said on Wednesday. Total vehicle sales in the month grew by 9.9% on the year to 2.69 million, according to the China Association of Automobile Manufacturers (CAAM). That reversed a 19.9% slump in February, which was… Continue reading China’s EV-powered auto sales rebound, refreshing quarterly high
Thai car production faces tough year despite rising EV bookings
BANGKOK — Thailand’s automotive industry is not out of the woods yet despite a strong showing at the country’s biggest annual motor show, where a 25% increase in car bookings belied deep discounts offered to clear inventory amid cooling demand. Final sales may land at only half of the 53,000 cars booked at the Bangkok… Continue reading Thai car production faces tough year despite rising EV bookings