The recent spate of attacks against Israel-linked vessels could force cargo ships to divert from the key Red Sea shipping route, significantly increasing the cost and time of Chinese car exports to Europe, a logistics expert told Caixin. The Red Sea sits at the entrance to the Suez Canal, which forms the shortest shipping route… Continue reading Chinese auto exporters face costly detour after Red Sea attacks
Author: Nikki News Feed
Japan’s 2024 problem? Trucker overtime curbs risk an economic pileup
SAITAMA, Japan — For truck driver Toshiya Kajiyama, strict curbs on trucker overtime ordered by Japan’s government starting in April next year are a 2024 problem with a silver lining. The restrictions, aimed at alleviating an acute driver shortage in aging Japan by making trucking less arduous, pushed the 43-year-old into quitting a job that… Continue reading Japan’s 2024 problem? Trucker overtime curbs risk an economic pileup
Japan’s 2024 problem? Trucker overtime curbs risk an economic pile-up
SAITAMA, Japan — For truck driver Toshiya Kajiyama, strict curbs on trucker overtime ordered by Japan’s government starting in April next year are a 2024 problem with a silver lining. The restrictions, aimed at alleviating an acute driver shortage in aging Japan by making trucking less arduous, pushed the 43-year-old into quitting a job that… Continue reading Japan’s 2024 problem? Trucker overtime curbs risk an economic pile-up
Toyota to make 20% of new vehicles in Europe electric by 2026
NAGOYA/FRANKFURT — Toyota Motor is making moves to accelerate its production of electric vehicles in Europe, increasing the share of EVs for its new car sales in that market to 20% by 2026, the head of the company’s European business told Nikkei in a recent interview. With the Japanese auto group facing growing competition from European… Continue reading Toyota to make 20% of new vehicles in Europe electric by 2026
China’s Hozon EV unit launches first overseas plant in Thailand
Neta Auto has kicked off production at its first overseas electric vehicle plant in Thailand, further expanding its presence in the Southeast Asian country, where the government is looking to increase the use of battery-powered cars as part of its decarbonization push. The facility is expected to have an annual capacity of 20,000 cars, with… Continue reading China’s Hozon EV unit launches first overseas plant in Thailand
Toyota says it halted some Tianjin ops after report of partial suspension
SHENZHEN, China (Reuters) — Toyota Motor has halted production on some ageing lines at a joint venture in China while operations continue as normal, the Japanese automaker said on Saturday after a media report that it was partially suspending production due to weak sales. The production halt at the Tianjin venture with China’s FAW was… Continue reading Toyota says it halted some Tianjin ops after report of partial suspension
China’s graphite export curbs take effect with uncertainty for EVs
BEIJING — China on Friday began requiring government approval for exports of graphite, a key material for batteries used in electric vehicles, in an apparent counter to U.S.-led curbs targeting China’s tech sector. The measure is based on legislation to strengthen export controls on strategic materials. The government has yet to receive any applications from companies… Continue reading China’s graphite export curbs take effect with uncertainty for EVs
Honda axes 900 factory jobs in China as market shifts to EVs
GUANGZHOU — Honda Motor has decided to cut 900 jobs at a joint venture in China as the Japanese automaker’s sales suffer in a market that has shifted rapidly to electric vehicles. GAC Honda Automobile, the venture with government-owned Guangzhou Automobile Group, sent layoff notices to employees in late November. The reduction amounts to about 7% of… Continue reading Honda axes 900 factory jobs in China as market shifts to EVs
U.S. to limit Chinese content in batteries eligible for EV tax credits
WASHINGTON (Reuters) — The Biden administration on Friday issued long-awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year. In a win for automakers, the U.S. Treasury will temporarily exempt some trace critical minerals from new strict rules barring materials from China and other countries deemed a “Foreign… Continue reading U.S. to limit Chinese content in batteries eligible for EV tax credits
U.S. startup 24M to offer semisolid EV batteries that cost 40% less
TOKYO — U.S. battery manufacturer 24M Technologies will, as early as 2025, start production of electric vehicle batteries that can be made up to 40% more cheaply than current lithium-ion batteries, Nikkei has learned. The power cells, called “semisolid-state batteries,” are considered safer than the lithium-ion sort because they are less flammable than lithium-ion batteries.… Continue reading U.S. startup 24M to offer semisolid EV batteries that cost 40% less