TOKYO — Mitsubishi Motors on Tuesday reported a 39% decrease in net profit on the year for the April-June quarter to 29.4 billion yen ($188 million), as shipments flagged in the crucial Southeast Asian market. The Japanese automaker underperformed market forecasts for the quarter, in part from higher marketing costs in North America amid cutthroat competition. Go to Source
Author: Nikki News Feed
Nippon Steel to end 20-year joint venture with China’s Baosteel
TOKYO — Japan’s Nippon Steel will withdraw from a joint venture with Baoshan Iron & Steel, marking a turning point in a decadeslong relationship that was a symbol of China’s progress in modernizing its steel industry. As a result, Nippon Steel’s steel production capacity in China will be reduced by 70%. Go to Source
Buffett’s Berkshire Hathaway drops BYD stake to less than 5%
GUANGZHOU — Warren Buffett-led Berkshire Hathaway has sold more shares in Chinese EV giant BYD, according to a Monday filing on the Hong Kong Stock Exchange, as the U.S. investment company has gradually reduced its stake from about 20% to less than 5%. Berkshire sold 1,395,500 shares, equivalent to about 340 million Hong Kong dollars… Continue reading Buffett’s Berkshire Hathaway drops BYD stake to less than 5%
Toyota goes all-in on hybrids in U.S. as Trump risks loom over EVs
PLANO, Texas/NAGOYA –Toyota Motor will make all major models in the U.S. available as hybrids by 2030, doubling down on its strength in the vehicles as uncertainty shadows the market for electrics. At a Thursday test-drive event at Toyota’s North American headquarters — the first in years — half of the 26 models featured were… Continue reading Toyota goes all-in on hybrids in U.S. as Trump risks loom over EVs
Nickel prices hit 5-month low on sluggish China consumption
TOKYO — Global prices for nickel, used in stainless steel and EV batteries, are falling, pulled down by the prolonged real estate slump in major consumer China. Three-month nickel futures on the London Metal Exchange briefly dropped to $16,435 per tonne on Wednesday, the lowest price since late February. Go to Source
BYD sets sights on aggressive expansion in Vietnam
HANOI (Reuters) — Chinese electric vehicle group BYD on Thursday outlined plans to aggressively expand its dealership network in Vietnam as it opens its first stores in the country this week, posing a formidable challenge to local rival VinFast. Thirteen BYD dealerships will open their doors to the Vietnamese public on Saturday and the automaker… Continue reading BYD sets sights on aggressive expansion in Vietnam
Rare earths in the red and an overhaul for AI infrastructure
Hello, this is Kenji from Hong Kong. A lot of discussions and news coverage here lately has been about the long-awaited, high-level Communist Party gathering in Beijing, known as the third plenum. The conference is completely closed-door but it is still closely monitored and analyzed due to its historical impact on policy. Perhaps the most… Continue reading Rare earths in the red and an overhaul for AI infrastructure
Toyota pushes hybrids to defend top spot in Indonesia, largest ASEAN market
JAKARTA — Japanese automakers are trying to keep their presence felt in Indonesia with their latest hybrid electric vehicles at a time when a growing number of Chinese EV brands are also homing in on Southeast Asia’s largest auto market. Toyota Motor showcased its latest Prius hybrids on Wednesday ahead of the public opening of… Continue reading Toyota pushes hybrids to defend top spot in Indonesia, largest ASEAN market
China EV giant BYD seeks growth with new Thai factory
Tech Latest by Nikkei Asia brings you the newest updates from Asia’s technology industry. In this episode, Jada Nagumo talks to Bangkok correspondent Francesca Regalado, about Chinese EV maker BYD’s new Thailand factory. Listen to our latest podcast on Apple Podcasts | Spotify | Amazon Music | Voicy | YouTube | YouTube Music You can… Continue reading China EV giant BYD seeks growth with new Thai factory
China asks WTO to set up panel for U.S. EV subsidies dispute
BEIJING (Reuters) — China has requested the World Trade Organization set up an expert panel to help settle a dispute over electric vehicle subsidies under the U.S. Inflation Reduction Act, the country’s commerce ministry said on Monday. The world’s No. 2 economy opened the WTO dispute in late March after the administration of U.S. President… Continue reading China asks WTO to set up panel for U.S. EV subsidies dispute