SEOUL/GUANGZHOU — LG Energy Solution is hitting a growth plateau as slowing European and American adoption of electric vehicles and Chinese competition together force the South Korean battery maker to rethink its aggressive expansion. Results released Friday showed revenue down 6% on the year to 8 trillion won ($6 billion) in the October-December quarter. This… Continue reading LG Energy’s battery expansion hits speed bump as EV adoption slows
Author: Nikki News Feed
Mitsubishi Fuso, Isuzu to sell electric trucks in Hong Kong and Thailand
TOKYO — Japanese automakers Isuzu Motors and Mitsubishi Fuso Truck and Bus each seek to establish a foothold in Hong Kong and Southeast Asia’s growing EV markets using electric trucks. Mitsubishi Fuso will export its eCanter small electric trucks to Hong Kong and Singapore after producing them in the Kanagawa prefecture city of Kawasaki, near Tokyo. Hong… Continue reading Mitsubishi Fuso, Isuzu to sell electric trucks in Hong Kong and Thailand
Hyundai Q4 operating profit weighed down by slow EV growth
SEOUL — Hyundai Motor eked out a gain in operating profit in the fourth quarter of 2023 from the same period the year before as electric vehicle (EV) sales slowed and unfavorable foreign exchange rates weighed on results. Hyundai said on Thursday that operating profit reached 3.4 trillion won ($2.5 billion) for the three months through December, a gain of 0.2% from the same… Continue reading Hyundai Q4 operating profit weighed down by slow EV growth
Malaysia seeks place in EV ecosystem with battery development
KUALA LUMPUR — Malaysia has built a solid reputation over four decades as a reliable manufacturer of products ranging from semiconductors to automobiles — even producing a “national car” in 1985 through cooperation with Japan’s Mitsubishi Motors. And while the country was the first in ASEAN to achieve that milestone, it has fallen behind in… Continue reading Malaysia seeks place in EV ecosystem with battery development
Tesla cars face more entry bans in China as ‘security concerns’ accelerate
TAIPEI/BEIJING — Tesla drivers in China are facing entry restrictions at more government-affiliated venues, including meeting halls and exhibition centers, due to data security concerns amid ongoing tensions between Washington and Beijing. Sources told Nikkei Asia that a growing number of government affiliates, local authority agencies, highway operators and even cultural and exhibition centers have… Continue reading Tesla cars face more entry bans in China as ‘security concerns’ accelerate
Bridgestone plans $5bn investment push with focus on EV tires
TOKYO — Bridgestone looks to invest around 800 billion yen ($5.38 billion) over three years through 2026, accelerating the development of specialty tires for electric vehicles and mining equipment along with decarbonization technologies. The figure is expected to be included in the Japanese manufacturer’s new medium-term business plan due as early as March. Bridgestone is seen quintupling its lineup of… Continue reading Bridgestone plans $5bn investment push with focus on EV tires
Toyota’s market cap sets new Japan record, topping bubble-era NTT
TOKYO/NAGOYA, Japan — Toyota Motor has set a new record for market capitalization for a Japanese company, reaching 48.7 trillion yen ($328.8 billion) at the end of Tuesday’s trading in Tokyo, as overseas investors flock to blue chips. Toyota closed at 2,991 yen, up 9 yen from Monday and rising for a fifth straight session. Its share price,… Continue reading Toyota’s market cap sets new Japan record, topping bubble-era NTT
Thai coal leader Banpu boosts EV shift with $67m ADB loan
BANGKOK — Banpu, Thailand’s biggest coal miner, has signed a 2.4 billion baht ($67 million) loan agreement with the Asian Development Bank as it urgently seeks to shift from reliance on coal and expand electric vehicle operations. “We would like to thank you ADB for supporting our commitment. Our shared determination to build sustainable energy… Continue reading Thai coal leader Banpu boosts EV shift with $67m ADB loan
Thai coal leader Banpu boosts EV shift with $67m ADB loan
BANGKOK — Banpu, Thailand’s biggest coal miner, has signed a 2.4 billion baht ($67 million) loan agreement with the Asian Development Bank as it urgently seeks to shift from reliance on coal and expand electric vehicle operations. “We would like to thank you ADB for supporting our commitment. Our shared determination to build sustainable energy… Continue reading Thai coal leader Banpu boosts EV shift with $67m ADB loan
NTT Data to develop AI that can detect driver’s cognitive decline
TOKYO — Japanese information technology company NTT Data will develop a system that uses artificial intelligence to detect the cognitive ability of elderly drivers, Nikkei has learned, in an attempt to reduce the risk of accidents involving them in the rapidly aging country. The AI system will analyze driving speed, acceleration and deceleration, and other… Continue reading NTT Data to develop AI that can detect driver’s cognitive decline