SHENZHEN, China/TOKYO — The rise of electric vehicles in China is fueling a shakeout in its auto market, weeding out players lacking the wherewithal to keep pace while the government bolsters a select few players in its bid to make the country an automotive powerhouse. The mounting challenges of the Chinese market, with a cooling… Continue reading China EV price wars drive Mitsubishi out of market
Author: Nikki News Feed
China auto industry steps up chip supply chain cooperation
SHENZHEN — Investment companies linked to some of China’s biggest automakers have formed an alliance to bolster their supply chain for semiconductor devices and other core components of electric vehicles. The new alliance’s members include GAC Group and Zhejiang Geely Holding Group investment companies. Go to Source
Honda eyes U.S. subsidies with Prologue EV’s 2024 launch
NEW YORK — Honda Motor unveiled Thursday the details of the Prologue, an all-electric crossover developed with General Motors that it hopes will qualify for U.S. subsidies and allow it to establish a footprint in the North American EV market. The Prologue, due to be rolled out early next year, will be Honda’s first electric vehicle in the… Continue reading Honda eyes U.S. subsidies with Prologue EV’s 2024 launch
Toyota’s August global output rose on stronger domestic production
TOKYO (Reuters) — Toyota Motor said global production climbed 4% from the same period a year earlier to 798,771 vehicles to mark a record for the month of August. Domestic production for the world’s biggest automaker rose 22% from a year earlier, offsetting a 2% drop in overseas output and highlighting its recovery from last… Continue reading Toyota’s August global output rose on stronger domestic production
Kia, Hyundai recall 3.37m U.S. vehicles over fire risks
WASHINGTON (Reuters) — Hyundai and Kia are recalling a combined 3.37 million vehicles in the United States due to the risk of engine fires, telling owners to park outside and away from structures until repairs are complete. The automakers say brake fluid leaks can cause a short that could lead to a fire. Hyundai said it has… Continue reading Kia, Hyundai recall 3.37m U.S. vehicles over fire risks
Japan’s Mitsubishi Motors to end production in China
TOKYO — Mitsubishi Motors has decided to withdraw from automobile production in China, Nikkei has learned. The company has started final withdrawal talks with China’s Guangzhou Automobile Group (GAC), a major automaker with which Mitsubishi has a joint venture. Mitsubishi’s sales in China have been sluggish due to the popularity of electric vehicles and the… Continue reading Japan’s Mitsubishi Motors to end production in China
Malaysia creates national auto champion, targeting EV pivot
SINGAPORE/BANGKOK — Malaysia’s auto industry is undergoing a government-led mega-merger, bringing together two conglomerates controlling more than half of the market to catch up with the rest of the world’s shift to electric vehicles. Under a deal announced in August, prominent Malaysian group Sime Darby will buy state-owned investment firm Permodalan Nasional’s 61.2% stake in UMW… Continue reading Malaysia creates national auto champion, targeting EV pivot
Tokyo to have 1,000 new EV charging hubs, more than gas stations
TOKYO — A Japanese startup will set up 1,000 fast charging stations for electric vehicles in Tokyo, more than the number of gas stations, in the next 18 months, the company said Tuesday, part of a growing push to bolster charging infrastructure in the country. The plan by Tokyo-based Terra Motors would bring the total number of fast-charging stations in the capital to… Continue reading Tokyo to have 1,000 new EV charging hubs, more than gas stations
Ford pauses construction on battery plant that would use CATL tech
DETROIT, U.S. (AP) — Ford Motor said Monday that it’s pausing construction of a $3.5 billion electric vehicle battery plant in Michigan until it is confident it can run the factory competitively. The move comes as the company is in the midst of national contract talks with the United Auto Workers union, which wants to… Continue reading Ford pauses construction on battery plant that would use CATL tech
Chinese EV makers ramp up European production amid subsidy row
BEIJING/BRUSSELS — A number of Chinese automakers are announcing plans to start manufacturing in Europe, emphasizing job creation in hopes of reassuring authorities increasingly worried about the influx of cheap Chinese EVs into the market. An executive at state-owned SAIC Motor said this month that the company has begun the process of choosing a site… Continue reading Chinese EV makers ramp up European production amid subsidy row