TOKYO — Denso, Japan’s leading auto parts maker and supplier to Toyota Motor, will invest about 500 billion yen ($3.3 billion) in the semiconductor business by 2030, its president Shinnosuke Hayashi revealed on Thursday at the Japan Mobility Show in Tokyo. The investment will be used for research and development, capital expenditure, and mergers and… Continue reading Toyota supplier Denso to invest $3.3bn in chips business
Author: Nikki News Feed
Stellantis to buy 21% of China’s Zhejiang Leapmotor for $1.6bn
SHANGHAI/HONG KONG — Euro-American auto group Stellantis plans to invest 1.5 billion euros ($1.6 billion) to take a 20% stake in Chinese electric vehicle maker Zhejiang Leapmotor Technology. The deal could help Stellantis realize its electrification ambitions and reestablish a foothold in China, plus help Leapmotor accelerate its export push. The proposal comes as traditional foreign… Continue reading Stellantis to buy 21% of China’s Zhejiang Leapmotor for $1.6bn
Foxconn-led MIH sets EV sales targets for India, Thailand and Japan
TOKYO — A Foxconn-led consortium aims to sell a total of 100,000 electric minicars a year in India, Thailand and Japan starting in 2025. MIH Consortium, an EV initiative launched by the Taiwanese iPhone assembler in 2020, announced its targets for the Project X three-seater at the Japan Mobility Show in Tokyo on Thursday. Go… Continue reading Foxconn-led MIH sets EV sales targets for India, Thailand and Japan
Honda, GM scrap $5bn plan to co-develop cheaper EVs
TOKYO (Reuters) — Honda Motor and General Motors are scrapping a plan to jointly develop affordable electric vehicles, the companies said on Wednesday, just a year after they agreed to work together in a $5 billion effort to beat Tesla in sales. The decision underscores GM’s strategic shift to slow the launch of several EV models to focus on… Continue reading Honda, GM scrap $5bn plan to co-develop cheaper EVs
At Japan Mobility Show, EV dreams meet market realities
TOKYO — Japan’s largest auto show opened to the press on Wednesday with the country’s legacy automakers stressing their commitment to developing electric vehicles. But while Chinese and German rivals were showing off EVs already on the market, offerings from Toyota, Nissan and other domestic players remain largely in the concept stage. The Japan Mobility… Continue reading At Japan Mobility Show, EV dreams meet market realities
Thai auto industry body cuts 2023 production forecast to 1.85m units
BANGKOK — Thailand’s automobile production this year is expected to reach 1.85 million units, down from its previous forecast of 1.9 million, the Federation of Thai Industries (FTI) said on Tuesday. The downward revision — the second this year after one in July — was primarily the result of stricter scrutiny of car loan applications,… Continue reading Thai auto industry body cuts 2023 production forecast to 1.85m units
New name, new focus: 3 things to know about the Japan Mobility Show
TOKYO — Japan’s largest auto show is back this week with a new name and focus, reflecting the growing importance of electrification and software technologies for automakers in the race to remain globally competitive. Nearly 500 companies will gather on Wednesday at Tokyo Big Sight, Japan’s largest international exhibition center, for the Japan Mobility Show.… Continue reading New name, new focus: 3 things to know about the Japan Mobility Show
Japan automakers face turning point as Mitsubishi confirms China exit
TOKYO — Japanese automakers’ global strategies are under pressure as the rapid rise of China’s electric-vehicle industry undercuts their traditional strength of fuel efficiency in the world’s largest car market. One casualty of this transition is Mitsubishi Motors, which said on Tuesday it will end auto production in China, withdrawing from its joint venture with Guangzhou Automobile Group (GAC). Go… Continue reading Japan automakers face turning point as Mitsubishi confirms China exit
Isuzu and Toyota to mass produce light hydrogen fuel cell truck
TOKYO — Isuzu Motors will mass produce a light hydrogen-powered fuel cell truck it is developing with Toyota Motor in the latter half of this decade, aiming to bring the price down to the same level as electric trucks to encourage adoption. The vehicle will combine Isuzu’s light truck body and Toyota’s fuel-cell-vehicle technology. Where… Continue reading Isuzu and Toyota to mass produce light hydrogen fuel cell truck
Mitsubishi Motors to invest up to 200m euros in Renault EV venture Ampere
TOKYO — Mitsubishi Motors said Tuesday that it will invest up to 200 million euros ($213 million) in Ampere, a new electric vehicle venture set up by Renault. The Japanese carmaker plans to buy EVs developed and produced by Ampere and sell them under its own brand, allowing it to move toward electrification while keeping… Continue reading Mitsubishi Motors to invest up to 200m euros in Renault EV venture Ampere