TOKYO — China’s BYD has joined the world’s 10 biggest car companies by sales for the first time, surpassing Mercedes-Benz Group and BMW in a sign of how electric vehicles are reshaping the auto industry. BYD’s global new vehicle sales grew 96% on the year to 1.25 million autos in the first half of 2023,… Continue reading China’s BYD breaks into world’s top 10 automakers with EV push
Author: Nikki News Feed
Isuzu to sell electric pickup in Thailand as soon as 2025
TOKYO — Isuzu Motors plans to release an electric pickup truck in Thailand and elsewhere as early as 2025, aiming to hold on to its high market share in the Southeast Asian country as Chinese automakers take the lead in cultivating electric-vehicle demand. Pickups account for about half of the Japanese automaker’s global sales in unit… Continue reading Isuzu to sell electric pickup in Thailand as soon as 2025
Philippine’s Ayala to form e-scooter venture with Taiwan’s Gogoro
MANILA — Philippine conglomerate Ayala Corp. will soon set up a joint venture with Taiwan’s leading electric bike maker, Gogoro, entering the e-scooter business in its home market, Ayala said on Friday. In addition to importing, selling, and maintaining motorcycles, The joint venture will provide battery-swapping stations. Ayala is involved in urban development and running… Continue reading Philippine’s Ayala to form e-scooter venture with Taiwan’s Gogoro
Mitsubishi Chemical, Zeon to make EV battery materials in North America
TOKYO — Japanese companies are moving to increase battery material production in North America for electric vehicles, hoping to capitalize on the U.S. push to build a local EV supply chain. Mitsubishi Chemical plans to establish a new production base for anode materials in North America with an annual capacity of 10,000 tonnes, enough material for… Continue reading Mitsubishi Chemical, Zeon to make EV battery materials in North America
VinFast CEO Thuy Le calls EV opportunities ‘enormous’
HANOI — Despite being a minnow in the fiercely competitive global electric vehicle (EV) market, Vietnamese EV maker VinFast, which made its debut on the Nasdaq last week via a special purpose acquisition company (SPAC) merger, is betting that it can become a more valuable company. On its first day of trading in the U.S.… Continue reading VinFast CEO Thuy Le calls EV opportunities ‘enormous’
Toyota invests $78m in Philippines plant to produce 2 new models
NAGOYA, Japan — Toyota Motor is boosting investment in the Philippines by 4.4 billion pesos ($78.2 million) to develop two new models designed for emerging markets, the Japanese automaker said on Tuesday, as it anticipates strong growth in Southeast Asia. “I truly believe there is enormous potential for growth here, from both a business and technology standpoint,” Toyota Chairman… Continue reading Toyota invests $78m in Philippines plant to produce 2 new models
China’s Geely struggles to lift profits as price war rages
SHANGHAI/HONG KONG — China’s Geely Automobile Holdings reported a virtually flat net profit for the first half of the year on Tuesday, as the automaker struggles to shift to electrified vehicles amid a sluggish economic recovery and severe price competition at home. Though revenue for the group based in Zhejiang province grew by 26% on the year to… Continue reading China’s Geely struggles to lift profits as price war rages
Mazda seeks to escape cycle of low returns with luxury SUVs
TOKYO — As Mazda Motor has failed to reap the hoped-for profits from a flurry of investment in expanding and tweaking its vehicle lineup, it is betting on a new line of high-end, high-priced SUVs to fatten its slim margins. The Japanese automaker’s earnings look solid. Operating income for the year ending March 2024 is… Continue reading Mazda seeks to escape cycle of low returns with luxury SUVs
Thailand energy group PTT to make e-motorbikes with Taiwan’s Kymco
BANGKOK — Thai state-owned oil and gas group PTT will start making and selling electric motorcycles this year, hoping to bank on Southeast Asia’s rapidly electrifying two-wheeler market, the world’s largest after China and India. Arun Plus, PTT’s subsidiary in charge of making electric vehicles and batteries, will establish a joint venture with Kymco, Taiwan’s… Continue reading Thailand energy group PTT to make e-motorbikes with Taiwan’s Kymco
GM Cruise robotaxi collides with fire truck in San Francisco
SAN FRANCISCO (Reuters) — California’s autos regulator said on Friday it is investigating “recent concerning incidents” involving autonomous vehicles operated by General Motors unit Cruise in San Francisco and asked the company to take half its robotaxis off the roads. The statement from California Department of Motor Vehicles (DMV) came after a Cruise robotaxi was… Continue reading GM Cruise robotaxi collides with fire truck in San Francisco