NEW DELHI — Hero MotoCorp said it will be investing an additional 5.5 billion rupees ($66 million) in Indian electric two-wheeler manufacturer Ather Energy. “The board of directors of the company, at its meeting held on Sept. 4, has approved an investment of up to [5.5 billion rupees] in the rights issue of Ather Energy… Continue reading India’s Hero MotoCorp to add $66m more into EV maker Ather Energy
Author: Nikki News Feed
Munich auto show highlights China’s presence in luxury EV race
MUNICH — Chinese automakers are making their presence felt at the Munich International Auto Show that starts on Monday with a focus on luxury electric vehicles as they seek opportunities in the rapidly electrifying European market. Answering to reporters at a preceding event on Sunday, Thomas Ingenlath, CEO of Geely’s luxury subsidiary Polestar, proudly claimed… Continue reading Munich auto show highlights China’s presence in luxury EV race
VinFast CEO unfazed by stock volatility, sees potential in ASEAN
JAKARTA — VinFast CEO Thuy Le on Monday shrugged off volatile movements in the Vietnamese EV maker’s stock price following its Nasdaq debut, saying she believed in the company’s potential, especially considering Southeast Asia’s rapidly expanding electric vehicle ecosystem. “You probably saw after [the] listing how our share price went, and I think that a… Continue reading VinFast CEO unfazed by stock volatility, sees potential in ASEAN
Global EV shift pushes Japan’s midsize auto suppliers to adapt
TOKYO — Japan’s midsize auto suppliers are investing in new talent and production lines in response to surging global demand for electric vehicles, following in the footsteps of leading players such as Nidec. Suppliers that have long relied on production tied to internal combustion engine vehicles are reshaping operations to serve an industry embracing electrification. Many of their efforts… Continue reading Global EV shift pushes Japan’s midsize auto suppliers to adapt
BYD leads charge as China’s share of EV exports grows eightfold
TOKYO — China’s presence in the international electric vehicle market is growing as its share of global EV exports ballooned eightfold over the past five years. BYD, which is rapidly expanding production of affordable EVs, is a driving force behind this trend. And as consumption falters in China, manufacturers there may increase exports to Southeast Asia, encroaching on a traditional stronghold… Continue reading BYD leads charge as China’s share of EV exports grows eightfold
Tesla shows off new China-made Model 3 sedan at Beijing fair
BEIJING (Reuters) — Tesla showed off its restyled, China-made Model 3 sedan for the first time to the public at a trade fair in Beijing, after launching it a day before in several countries. The U.S. automaker displayed a flame red version of the car — marking the first change to its mass-market car lineup since it launched its global… Continue reading Tesla shows off new China-made Model 3 sedan at Beijing fair
VinFast’s share price ‘baffling’ for skeptics of Vietnam EV maker
HO CHI MINH CITY/NEW YORK — Electric vehicle maker VinFast landed on Nasdaq with soaring share prices that just as quickly plummeted, raising questions about its valuation. Volatile trading pushed VinFast’s market capitalization past those of GM and Boeing this week, then down 44% in a day. Its valuation has been anywhere between $80 billion… Continue reading VinFast’s share price ‘baffling’ for skeptics of Vietnam EV maker
China’s Great Wall Motor takes a bigger slice of Russian market
HONG KONG — China’s largest SUV maker Great Wall Motor is rapidly expanding its market position in Russia, which has become the company’s major profit generator amid weak growth at home, while Western and Japanese automakers continue to leave Russia after the invasion of Ukraine. Great Wall reported on Wednesday evening that for the first… Continue reading China’s Great Wall Motor takes a bigger slice of Russian market
Chinese EV maker Hozon raises $960m in crossover financing
HONG KONG — Chinese electric vehicle maker Hozon New Energy Automobile said it has secured 7 billion yuan ($960.2 million) in crossover financing, a few months after the company denied media reports about its plan to move toward a public listing in Hong Kong. Shanghai-headquartered Hozon announced the crossover financing in a WeChat post on… Continue reading Chinese EV maker Hozon raises $960m in crossover financing
Toyota to build over 10m vehicles for first time this year
NAGOYA, Japan — Toyota Motor seeks to shatter its production record this year, aiming to manufacture 10.2 million vehicles globally, the Nikkei has learned, and cross the eight-figure milestone for the first time. The carmaker has set a target to produce about 3.4 million Toyota and Lexus brand vehicles in Japan and roughly 6.8 million units overseas, for increases of 30%… Continue reading Toyota to build over 10m vehicles for first time this year