HO CHI MINH CITY — VinFast said it will secure lithium batteries for its electric vehicles by absorbing VinES, a sister company under a parent firm started by Vietnam’s richest man. Vingroup founder Pham Nhat Vuong will give 99.8% of battery maker VinES to Nasdaq-listed VinFast, which announced the deal late Wednesday. Separately, out of… Continue reading Vietnam EV maker VinFast absorbs lithium battery affiliate
Author: Nikki News Feed
Long road to profit for China’s Nio underscores EV challenges
TOKYO — Chinese electric vehicle startup Nio offers an insightful case study on the typical challenges early-stage EV manufacturers must tackle before starting to make money. The Shanghai-based carmaker is under the spotlight in the ever-evolving Chinese EV landscape. Despite its massive investment into research and development, the company is still far from generating profit,… Continue reading Long road to profit for China’s Nio underscores EV challenges
China’s Nio and Geely seek edge with smartphones on wheels
SHANGHAI — Electric-vehicle startup Nio and fellow Chinese automaker Zhejiang Geely Holding Group are betting on smartphones that integrate closely with their cars as a way to stand out in a highly competitive market. The recently announced Nio Phone can unlock car doors and turn on the air conditioner. Its built-in Nomi artificial intelligence assistant… Continue reading China’s Nio and Geely seek edge with smartphones on wheels
Nissan to roll out new Caravan for campers and telecommuters
TOKYO — Nissan Motor on Wednesday announced a new van model in its venerable Caravan line made for overnight ventures and remote workers looking to go on the road. The Myroom, set to launch next summer, features an interior designed to feel like a room, with wood-grain surfaces and indirect lighting. It includes a bed… Continue reading Nissan to roll out new Caravan for campers and telecommuters
Malaysian automaker Proton eyes EV plant in Thailand
BANGKOK — Malaysian national automaker Proton is considering building an electric-vehicle factory in Thailand, Thai Prime Minister Srettha Thavisin said Wednesday. “They look to set up an EV factory in Thailand,” Srettha told a joint news conference with Malaysian Prime Minister Anwar Ibrahim in Kuala Lumpur on an official visit. “Hopefully a clear next step… Continue reading Malaysian automaker Proton eyes EV plant in Thailand
Honda, Mitsubishi to launch electricity grid using EVs
TOKYO — Honda Motor will create a utility business by connecting electric vehicles to the grid and using them for the supply and storage of electricity in partnership with the trading house Mitsubishi Corp., Nikkei has learned. The two companies are in talks to establish the joint venture next year, and are also looking into the possibility of forming a… Continue reading Honda, Mitsubishi to launch electricity grid using EVs
Chinese electric vehicle maker WM Motor files for bankruptcy
SHANGHAI — Chinese electric vehicle maker WM Motor has filed for bankruptcy, highlighting a crowded market that is bracing for consolidation on the back of weakened domestic demand. In a statement released late Tuesday, the Shanghai-based automaker announced that its bankruptcy application was accepted by a local court on Saturday. Go to Source
Insurer Sompo Japan failed to report systemic fraud at Bigmotor
TOKYO — Sompo Japan Insurance hid the full scope of major used-car dealer Bigmotor’s alleged fraudulent insurance claims by failing to report instances of potential systemic cheating to the authorities, according to an external committee’s report. The Japanese nonlife insurer “cannot avoid criticism that it concealed the truth,” said the investigation’s scathing interim report released… Continue reading Insurer Sompo Japan failed to report systemic fraud at Bigmotor
Japanese firms rev up output of EV range-boosting materials
TOKYO — Mitsubishi Chemical Group and Asahi Kasei are among Japanese companies increasing production of materials that allow electric vehicles to travel farther, looking to tap demand for higher performance in the rapidly growing market. Mitsubishi Chemical will increase production of substrates for next-generation power semiconductors made from gallium nitride (GaN), for use in EV… Continue reading Japanese firms rev up output of EV range-boosting materials
China’s Nio turns to sales drive as EV competition accelerates
From startup to prominent brand, Chinese electric vehicle maker Nio entered the industry when it was still budding and rode the wave of demand to the top, where it is now facing competition from an influx of new and traditional carmakers. To combat challengers eating away at its market share, the automaker has shifted strategies… Continue reading China’s Nio turns to sales drive as EV competition accelerates