Author: Nikki News Feed

Tesla shares skid after China sales slump in February

SAN FRANCISCO (Reuters) — Shares in Tesla fell more than 7% on Monday after its sales declined in February in China, where it faced rising competition and a slowdown during the Lunar New Year holidays. The sales data dimmed the outlook for Tesla’s global deliveries, at a time when the top electric vehicle maker is battling… Continue reading Tesla shares skid after China sales slump in February

Tesla in talks for Thailand production facility, official says

BANGKOK (Reuters) — Tesla is in talks with Thailand’s government for a potential production facility in the country, after having conducted a site survey late last year, an official from the prime minister’s office said on Monday. The Thai government has offered Tesla 100% green energy to run the facility, which could produce EVs or… Continue reading Tesla in talks for Thailand production facility, official says

Japan antitrust watchdog to warn Nissan on underpaying subcontractors

TOKYO (Kyodo) — Japan’s antitrust watchdog plans to warn major automaker Nissan Motor after it unilaterally reduced payments to over 30 subcontractors, a source familiar with the matter said Monday. Nissan allegedly underpaid the companies by some 3 billion yen ($20 million) upon delivery of their services over an extended period, in violation of the… Continue reading Japan antitrust watchdog to warn Nissan on underpaying subcontractors

IM Motors raises $1.1bn in one of China EV brands’ biggest deals

BEIJING (Reuters) — IM Motors, a premium electric vehicle brand of state-owned Chinese automaker SAIC, said on Friday it has raised more than 8 billion yuan ($1.1 billion) to work on new smart car models and technologies. IM Motors’ Series B round of equity financing was among the biggest investments into Chinese EV brands in… Continue reading IM Motors raises $1.1bn in one of China EV brands’ biggest deals

BYD expands Japan exposure with more EV models, dealership network

TOKYO — BYD has announced that it will launch two more electric vehicle models in Japan by 2026, as the automaker hopes to shake up the world’s fourth-largest auto market dominated by legacy domestic automakers. “Japan is globally an auto kingdom, and our participation is changing the nation’s auto industry, which is meaningful and has… Continue reading BYD expands Japan exposure with more EV models, dealership network

U.S. launches inquiry into Chinese connected cars

WASHINGTON — U.S. President Joe Biden announced on Thursday that he has ordered an investigation into technologies used in connected cars, primarily from China, over national security threats. “Connected vehicles from China could collect sensitive data about our citizens and our infrastructure and send this data back to the People’s Republic of China,” Biden said… Continue reading U.S. launches inquiry into Chinese connected cars

Honda gives hydrogen cars another try with plug-in functionality

TOKYO — Honda Motor is reentering the nascent hydrogen passenger car market this year, this time with a sport utility vehicle (SUV) equipped with plug-in functionality, hoping the recent spread of hydrogen charging stations will help attract more drivers than it did with its previous model. The automaker debuted the CR-V e:FCEV on Wednesday at… Continue reading Honda gives hydrogen cars another try with plug-in functionality

Apple cancels work on electric car a decade after project kicked off

(Reuters) — Apple has canceled work on its electric car, a source familiar with the matter told Reuters on Tuesday, a decade after the iPhone maker kicked off the project. Shares of the company were up 0.7% in afternoon trading, having pared some losses from earlier in the trading day. Several employees working on the… Continue reading Apple cancels work on electric car a decade after project kicked off