HO CHI MINH CITY — VinFast aims to build factories in India and Indonesia, while anticipating a $1.2 billion cash infusion from its founder and others as the Nasdaq-listed electric vehicle producer hopes to reach 50 markets by the end of 2024. Vietnam-based VinFast sold 10,027 EVs in the third quarter, it also said on… Continue reading VinFast to invest $400m on India, Indonesia EV factories
Author: Nikki News Feed
Hyundai adopts Tesla EV-charging standard in U.S. from late 2024
SEOUL (Reuters) — Hyundai Motor said on Thursday it has decided to adopt Tesla’s electric vehicle charging technology in the United States and Canada. Joining their global peers including Ford Motor, General Motors and Nissan Motor in adopting Tesla’s North American Charging Standard (NACS), Hyundai’s move takes the Elon Musk-led company’s superchargers closer to becoming the industry standard at the… Continue reading Hyundai adopts Tesla EV-charging standard in U.S. from late 2024
Global EV shift forces Toyota to diversify battery supply chain
NAGOYA, Japan/SEOUL — Toyota Motor is accelerating its effort to build a new supply chain for electric-vehicle batteries, reducing its dependence on its own group. The Japanese auto giant announced on Thursday that it has signed a contract with South Korea’s LG Energy Solution to supply lithium-ion batteries, which will be used for EVs that… Continue reading Global EV shift forces Toyota to diversify battery supply chain
India EV scooter startups grapple with losses, uncertainty, rivals
BENGALURU — India’s electric scooter startups are under the gun as hefty losses and regulatory uncertainties turn investors wary despite large market shares, while legacy automakers ramp up competition. Ather Energy, which ranks third in sales, resorted to a rights issue after potential investors balked at its ask of more than $200 million at a… Continue reading India EV scooter startups grapple with losses, uncertainty, rivals
Toyota and LG Energy sign battery supply deal for U.S. EVs
(Reuters) — Toyota Motor and LG Energy Solution signed a supply agreement for lithium-ion batteries for use in the Japanese automaker’s U.S.-built electric vehicles starting in 2025, the companies said on Wednesday. LGES will invest $3 billion in its Michigan battery facility to supply Toyota exclusively. Go to Source
Nissan pays price in China for slow EV rollout
TOKYO — Nissan Motor’s sales are skidding in China as the automaker struggles to keep up with the shift to electric vehicles in the world’s largest auto market. The number of vehicles Nissan sold in China tumbled 28.9% on the year in August, following drops of 28% in June and 33.6% in July — all… Continue reading Nissan pays price in China for slow EV rollout
Japan courts Canada, Australia for China-free EV supply chain
TOKYO — Japan is looking to Canada and Australia for critical materials used in electric vehicle batteries as U.S. policy pushes companies to develop China-free supply chains. But Japanese automakers and battery companies face a stiff battle for resources, even with the government backing their efforts to diversify. South Korean rivals have already made inroads… Continue reading Japan courts Canada, Australia for China-free EV supply chain
SenseTime’s push into self-driving cars faces U.S. obstacles
SHANGHAI — SenseTime Group, China’s leading provider of image recognition technology, has an ambitious goal for equipping cars with its platform but faces a roadblock in U.S. sanctions. Self-driving cars rely on image recognition technology to identify pedestrians, obstacles and signals on the road. SenseTime’s SenseAuto platform, which also can warn drivers who seem drowsy… Continue reading SenseTime’s push into self-driving cars faces U.S. obstacles
UAW set to expand strike at Ford and GM: UAW president
DETROIT (Reuters) — The United Auto Workers will walk off the job at an additional plant at General Motors and at Ford, United Auto Workers President Shawn Fain said on Friday, as the first-ever simultaneous strike against the Detroit Three automakers enters its third week. The strike will expand to Ford’s Chicago assembly plant and… Continue reading UAW set to expand strike at Ford and GM: UAW president
China EV price wars drive Mitsubishi from market
SHENZHEN, China/TOKYO — The rise of electric vehicles in China is fueling a shakeout in its auto market, uprooting players lacking the wherewithal to keep pace while the government bolsters a select few companies in its bid to make the country an automotive powerhouse. The mounting challenges of the Chinese market, with a cooling economy… Continue reading China EV price wars drive Mitsubishi from market