TOKYO — Hybrid vehicles are gaining traction in the U.S. thanks to improved fuel economy, enabling Toyota Motor and Honda Motor to cut sales incentives for popular models in a boost to their earnings. Sales of hybrids totaled roughly 106,000 in February, up 54% on the year, according to U.S. research firm Motor Intelligence. Their share in total… Continue reading Toyota and Honda reap rewards from U.S. hybrid boom
Author: Nikki News Feed
U.S. eases emissions targets, slows EV transition through 2030
WASHINGTON (Reuters) — The Biden administration on Wednesday slashed its target for U.S. electric-vehicle adoption from 67% by 2032 to as little as 35% after industry and autoworker backlash in the political battleground state of Michigan. The Environmental Protection Agency instead adopted a “technology-neutral” regulatory scheme that allows automakers far more freedom to meet emissions… Continue reading U.S. eases emissions targets, slows EV transition through 2030
Toyota testing scandals underscore rising stakes around emissions
Ben Scott is head of automotive research at the Carbon Tracker Initiative, a London-based think tank focused on the impact of climate change on financial markets. Revelations of regulatory cheating continue to drip out from Toyota Motor and its affiliates. Go to Source
China’s Geely says auto price war ‘normal’ after posting profit
HONG KONG — China’s Geely Automobile Holdings on Wednesday reported solid results for 2023, shrugging off the fierce price competition in the world’s largest auto market. An Conghui, a Geely Automobile executive and the president of its parent Zhejiang Geely Holding Group, told reporters that the deep discount by Chinese auto brands are “normal” and… Continue reading China’s Geely says auto price war ‘normal’ after posting profit
China auto price war is ‘normal’ for growth, Geely says after posting profit
HONG KONG — China’s Geely Automobile Holdings on Wednesday reported solid results for 2023, shrugging off the fierce price competition in the world’s largest auto market. An Conghui, a Geely Automobile executive and the president of its parent Zhejiang Geely Holding Group, told reporters that the deep discount by Chinese auto brands are “normal” and… Continue reading China auto price war is ‘normal’ for growth, Geely says after posting profit
U.S. eases tailpipe rules, slows EV transition through 2030
WASHINGTON (Reuters) — The Biden administration is unveiling final rules on Wednesday that make it easier for automakers to continue selling gas-powered models and slows the projected transition to electric vehicles through 2030. The Environmental Protection Agency’s rule, which weakens yearly emissions targets through 2030 over the more stringent plan proposed in April 2023, is… Continue reading U.S. eases tailpipe rules, slows EV transition through 2030
Renault Korea to invest $523m in new Busan hybrid vehicle line
SEOUL — Renault Korea Motors will invest about 700 billion won ($523 million) to set up hybrid vehicle production facilities at its existing plant in Busan, South Korea. The unit of French automaker Renault signed an investment memorandum with the city of Busan on Monday. Renault Korea is also considering producing new electric vehicle models… Continue reading Renault Korea to invest $523m in new Busan hybrid vehicle line
China-based Canadian stole Tesla secrets, say U.S. prosecutors
NEW YORK (Reuters) — A Canadian resident of China has been arrested in the United States for allegedly stealing electric car manufacturer Tesla’s trade secrets and conspiring to sell them to undercover law enforcement officers. Klaus Pflugbeil, the operator of a China-based business that sells technology used in electric vehicles, was arrested on Tuesday in… Continue reading China-based Canadian stole Tesla secrets, say U.S. prosecutors
Honda to shield suppliers from higher rates with lump-sum payments
TOKYO — Honda Motor will help suppliers improve cash flow by switching to lump-sum payments for auto part dies instead of protracted installments, Nikkei has learned, sparing these companies the risks related to rising interest rates. The metal dies used in manufacturing car parts are often made to order for automakers and include strict quality… Continue reading Honda to shield suppliers from higher rates with lump-sum payments
U.S. startup Fisker to pause EV production after missing interest payment
(Reuters) — Fisker said on Monday it would pause production of its electric vehicles for six weeks and raise up to $150 million in funding by selling convertible notes after missing an interest payment, as the startup tries to navigate a cash crunch. The company added that none of its Ocean SUVs were produced in… Continue reading U.S. startup Fisker to pause EV production after missing interest payment