NAGOYA, Japan — Toyota Motor will build a battery plant for electric vehicles in Kyushu, the southernmost of Japan’s four main islands, Nikkei has learned. The company aims to position Kyushu, which is home to many auto and chip plants, as a central part of its EV supply chain and an export base to Asia.… Continue reading Toyota to set up EV battery plant on Japan’s ‘Silicon Island’
Author: Nikki News Feed
Thai subsidies for Chinese EV makers wreak havoc on auto sector
BANGKOK — The Thai government touched off a domino effect when it started throwing subsidies at Chinese electric vehicle makers, industry figures say as they watch the resultant massive oversupply of EVs ignite a price war in the combustion engine auto segment, now suffering from production cuts and plant closures. The unintended consequences have also… Continue reading Thai subsidies for Chinese EV makers wreak havoc on auto sector
Hyundai celebrates Indian success with plan for largest IPO
SEOUL/BENGALURU — Hyundai Motor Group Executive Chairman Chung Euisun allowed himself a rare smile as he wrapped up a 90-minute town hall meeting with staff in India in April. The 53-year-old promised that the company’s Indian subsidiary would continue to play a key strategic role for the world’s third-largest automotive group. Go to Source
Nissan suffers 99% profit plunge on U.S. hybrid woes
TOKYO — Nissan Motor saw its operating profit plummet 99% on the year in April-June as its lack of hybrid offerings in the critical U.S. market took a toll on sales. Group operating profit came to 995 million yen ($6.4 million) for the quarter, according to earnings results announced Thursday. The automaker also revised its forecast for… Continue reading Nissan suffers 99% profit plunge on U.S. hybrid woes
China injects $41bn to subsidize car, appliance purchases
BEIJING — China will expand its stimulus program by roughly 300 billion yuan ($41.5 billion) to subsidize purchases of passenger vehicles and consumer electronics as it seeks to boost stagnant retail spending. The National Development and Reform Commission and the Ministry of Finance made a joint announcement on Thursday. The funding will be covered by the… Continue reading China injects $41bn to subsidize car, appliance purchases
Hyundai Motor posts small profit increase in Q2 on hybrids
SEOUL — Hyundai Motor said on Thursday that its operating profit increased 0.7% in the second quarter to 4.3 trillion won ($3.1 billion) from the same period last year as strong hybrid sales offset falling demand for electric vehicles. The automaker also announced that revenue rose 6.6% to 45 trillion won for the three months… Continue reading Hyundai Motor posts small profit increase in Q2 on hybrids
Honda to cut China production capacity for gas cars by 30%
TOKYO — Honda Motor plans to slash production capacity for gasoline-fueled vehicles in China by one-third, equivalent to about 10% of its global output, as falling sales of Japanese cars spur changes across the entire Chinese supply chain, Nikkei has learned. The company will shut three of its seven production lines in the world’s largest auto… Continue reading Honda to cut China production capacity for gas cars by 30%
Isuzu adds ‘truck for anyone’ model to meet Japan driver shortage
TOKYO — Japanese truck maker Isuzu Motors will launch a new small truck in Japan that requires only a regular driver’s license to drive, as Japan battles a severe labor shortage in the logistics industry, the company announced Wednesday. Isuzu sees the new truck, the Elf Mio, with a 1.9-liter diesel engine, as suitable for… Continue reading Isuzu adds ‘truck for anyone’ model to meet Japan driver shortage
Honda’s made-in-India SUV grabs Japanese drivers with low price
TOKYO — With its low sticker price, Honda Motor’s new made-in-India compact SUV has been such a hit in Japan that the automaker in April and May was crowned the country’s top imported vehicle seller. The Elevate first hit Indian showrooms last August, then debuted in Japan as the WR-V in March, becoming the first… Continue reading Honda’s made-in-India SUV grabs Japanese drivers with low price
Tesla’s main export hub in Shanghai reels from EU tariffs, weak EV demand
PALO ALTO, California — Tesla reported a fourth straight year-on-year quarterly profit drop on Tuesday as the U.S. electric-vehicle maker faces weakening EV demand in key markets, including China, where heated competition has pushed local players like BYD to cut prices. Meanwhile, the recent tariff hikes announced by the U.S. and the European Union on China-made… Continue reading Tesla’s main export hub in Shanghai reels from EU tariffs, weak EV demand