Author: Nikki News Feed

China EV maker BYD close to overtaking Nissan in global sales

TOKYO — Top Chinese automaker BYD has come within reach of surpassing Japanese rival Nissan Motor in global sales, new quarterly results show, as its electric vehicles grab market share at home and abroad. BYD sold 824,001 passenger vehicles from July to September, up 53% on the year to a quarterly record. Some analysts see… Continue reading China EV maker BYD close to overtaking Nissan in global sales

Panasonic logs record profit but slashes Japan EV battery production

TOKYO — Japan’s Panasonic Holdings said Monday it is slashing domestic electric battery production by 60% due to slower than expected sales of some models to key client Tesla. The move comes as the company announced a record net profit of 288 billion yen ($1.9 billion) for the six months through September, helped by a… Continue reading Panasonic logs record profit but slashes Japan EV battery production

Mitsubishi Motors still must confront Chinese rivals, in ASEAN

TOKYO — Japanese automaker Mitsubishi Motors is bracing for competition from its Chinese rivals even as it exits that country due to declining sales as it remains determined to defend its turf in Southeast Asia. Executives appeared before reporters during an online news conference on Monday, a week after the company announced it would stop… Continue reading Mitsubishi Motors still must confront Chinese rivals, in ASEAN

LG Energy Solution scrambles to boost EV battery production

SEOUL — South Korean battery giant LG Energy Solution is rushing to raise production capacity for electric vehicle batteries at 10 locations worldwide as it struggles to keep up with a ballooning order backlog. To ensure stable operations at all sites, LG Energy Solution is working with German industrial group Siemens to introduce AI-backed quality… Continue reading LG Energy Solution scrambles to boost EV battery production

Strikes hit U.S. and Europe as workers worry about job security

WASHINGTON/LONDON — Strikes are rippling across the U.S. and Europe as workers continue to struggle with inflation and the growing threat of artificial intelligence and other high tech to their jobs. The number of workdays lost to stoppage caused by workers involved in labor disputes has jumped in both the U.S. and the U.K. “We… Continue reading Strikes hit U.S. and Europe as workers worry about job security

Taiwan’s AUO shifts toward upstream automotive display production

TAIPEI — Leading Taiwanese display maker AUO aims to work directly with automakers in moving toward upstream production, seeking to better grasp development trends for in-vehicle displays to compete against Chinese rivals. AUO said on Oct. 2 that it had agreed to acquire a 100% stake in German auto parts manufacturer BHTC, which supplies to Audi and other automakers. AUO Chairman… Continue reading Taiwan’s AUO shifts toward upstream automotive display production

From EVs to digital, South Korea bags deals in tense Middle East

SEOUL — South Korea is strengthening business and economic ties in the Middle East, signing deals for electric vehicle manufacturing, digital development, energy, infrastructure and shipbuilding as it seeks fresh opportunities in a region it heavily depends on for oil and gas. The push is led by President Yoon Suk Yeol, who followed up a… Continue reading From EVs to digital, South Korea bags deals in tense Middle East

China’s Gotion to build EV battery materials plant in Michigan

GUANGZHOU — China’s Gotion High-tech will build a plant for electric vehicle battery materials in the U.S. state of Michigan to supply a battery factory it is planning nearby, aiming to establish a foothold in the subsidy-backed American market. The battery maker will invest $2.36 billion in the plant, with plans to complete construction by the… Continue reading China’s Gotion to build EV battery materials plant in Michigan

Japan’s Renesas says auto chips stable, warns of U.S. strike impact

TOKYO — Japanese chipmaker Renesas Electronics said growth in its automobile chip segment remained steady but warned it may yet feel an impact from worker strikes at auto plants in the U.S. Renesas, which is a major maker of microcontroller units for automobiles, reported a 2.9% year-on-year decrease in operating profit, to 318 billion yen… Continue reading Japan’s Renesas says auto chips stable, warns of U.S. strike impact