KYOTO, Japan — Japanese motor maker Nidec is expanding its line of E-Axle traction motor systems to include lower-output models, hoping to tap demand for the small electric vehicles increasingly popular in China’s booming market. “We are a supplier that focuses on the EV volume zone,” Nidec Chairman and CEO Shigenobu Nagamori said. Go to… Continue reading Nidec turns to smaller EV motors, tapping China demand
Author: Nikki News Feed
Ford, South Korean partners pick Canada for battery materials plant
OTTAWA, Canada (Reuters) – A consortium of Ford Motor and South Korean companies on Thursday said they would build a $1.2 billion ($887 million) Canadian dollar plant to produce electric-vehicle battery materials in Becancour, Quebec, a town seeking to become an EV supply chain hub, Canada’s industry ministry said. The consortium includes South Korean partners… Continue reading Ford, South Korean partners pick Canada for battery materials plant
China EV maker Xpeng posts record quarterly loss amid slowing economy
China EV maker Xpeng posts record quarterly loss amid slowing economy – Nikkei Asia Arrow Artboard Created with Sketch. Artboard Created with Sketch. Title Chevron Title Chevron Icon Facebook Icon Linkedin Icon Mail Contact Path Layer Icon Mail Positive Arrow Icon Print Electric cars in China Company bets on release of latest model and cost… Continue reading China EV maker Xpeng posts record quarterly loss amid slowing economy
Pressure on Vietnam EV maker VinFast to live up to Nasdaq splash
HO CHI MINH CITY — Vietnam is watching to see if homegrown electric vehicle maker VinFast can deliver on the sparkle of its U.S. listing after a bumpy first two days of trading. The new EV producer rang the Nasdaq opening bell on Tuesday, when its stocks popped 68% to close its first trading day… Continue reading Pressure on Vietnam EV maker VinFast to live up to Nasdaq splash
Hyundai Motor signs deal to buy GM plant in India
SEOUL — Hyundai Motor’s unit in India has signed a deal to acquire a General Motors plant in the South Asian country as the global automaker seeks to expand production in the fast-growing market. Hyundai Motor India Ltd. (HMIL) and General Motors India (GMI) signed an asset purchase agreement on Wednesday for the acquisition and… Continue reading Hyundai Motor signs deal to buy GM plant in India
CATL’s new EV battery charges 400 km range in 10 minutes
GUANGZHOU — Chinese automotive battery giant CATL introduced a battery Wednesday that delivers 400 kilometers on a single charge of 10 minutes, with the new cell to be equipped in more affordable electric vehicle models. The lithium iron phosphate (LFP) battery features modified electrode materials and an electrolyte mix that speeds charging while retaining safety. The ShenXing battery is resistant… Continue reading CATL’s new EV battery charges 400 km range in 10 minutes
Mercedes inks first-ever 5G connected car patent deal with Avanci
TOKYO — Mercedes-Benz Group has become the first automaker to sign a deal with U.S. patent platform Avanci to license 5G technology for use in connected vehicles, Avanci said Wednesday. Avanci licenses cellular patents on behalf of telecommunications firms and other patent holders. The company has already sealed 4G patent deals with a host of… Continue reading Mercedes inks first-ever 5G connected car patent deal with Avanci
Brother Industries to expand machine tool sales bases in China, India
NAGOYA, Japan — Japanese electrical equipment maker Brother Industries plans to add more sales and service bases in China and India for its machine tools used in electric vehicle parts production, tapping growing demand from automakers. By March 2025, the company intends to boost the number of sales offices and showroom-equipped “technology centers” in China to… Continue reading Brother Industries to expand machine tool sales bases in China, India
Global automakers see chance to turn India into an export hub
BENGALURU — Global car manufacturers aim to turn India into an export hub as locally produced vehicles targeting wealthier drivers become more globally competitive. India, which overtook Japan as the world’s third-largest car market after the U.S. and China last year, saw a 14% uptick in auto exports in the year through March, with 662,891… Continue reading Global automakers see chance to turn India into an export hub
VinFast’s valuation overtakes Ford and GM on Nasdaq debut
HANOI/SINGAPORE (Reuters) — VinFast’s shares soared in thin trading in their Nasdaq debut on Tuesday following the Vietnamese electric vehicle maker’s $23 billion backdoor listing as the startup said it was likely to raise money from global investors within 18 months. The stock opened at $22, more than double the $10 per share agreed with… Continue reading VinFast’s valuation overtakes Ford and GM on Nasdaq debut