GUANGZHOU — China’s Contemporary Amperex Technology (CATL), the world’s leading supplier of electric-vehicle batteries, is trying to head off three risks to its business by securing crucial minerals, seeking out more overseas buyers, and expanding beyond the auto industry. CATL has taken a series of steps on the supply chain front, an area investors are… Continue reading CATL confronts triple threat to its EV battery leadership
Author: Nikki News Feed
Japan to deploy faster EV chargers on highways
TOKYO — Japan plans to more than double the output of electric vehicle chargers used at highway service areas, helping to shorten recharging times and encouraging the spread of EVs. The Ministry of Economy, Trade and Industry will set standards applied to quick chargers for EVs and plug-in hybrids, requiring operators to increase the output to at… Continue reading Japan to deploy faster EV chargers on highways
Indonesia auto show, Cambodia PM transition, Taiwan’s Lai visits U.S.
Welcome to Your Week in Asia. Tensions are expected around the Taiwan Strait this week. The island’s vice president and leading presidential hopeful makes stops in the U.S. on the way to and from Paraguay, moves that have sparked protests from Beijing. Carmakers will gather for an international auto show in Indonesia, whose government is… Continue reading Indonesia auto show, Cambodia PM transition, Taiwan’s Lai visits U.S.
EV powerhouse China leads world in auto exports, topping Japan
TOKYO/GUANGZHOU — China became the world leader in automobile exports in the first six months of 2023, surpassing Japan at the half-year mark for the first time as more Chinese electric cars sold worldwide. Major Chinese automakers exported 2.14 million vehicles from January to June, up 76% on the year, according to the China Association of Automobile Manufacturers… Continue reading EV powerhouse China leads world in auto exports, topping Japan
Japan finance watchdog vows insurer probe after price-fixing allegations
TOKYO — The head of Japan’s Financial Services Agency has pledged a long, wide-ranging investigation into the nation’s leading property insurers after evidence has emerged that they colluded on setting prices for corporate customers. The FSA has ordered Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance, Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance… Continue reading Japan finance watchdog vows insurer probe after price-fixing allegations
Toyota, Pony.ai plan to mass produce robotaxis in China
BEIJING (Reuters) — Toyota and partner Pony.ai are planning to mass produce robotaxis in China, setting up a venture this year which will build cars that employ the startup’s autonomous driving technology and ride-hailing services. The two companies and GAC-Toyota, a venture between the Japanese automaker and Chinese state-owned Guangzhou Automobile Group, will invest more… Continue reading Toyota, Pony.ai plan to mass produce robotaxis in China
Mahindra EV unit raises $145m from Temasek at $9.8bn valuation
BENGALURU (Reuters) — Mahindra and Mahindra has raised $145 million from Temasek for its electric vehicle unit at a valuation of up to 805.8 billion rupees ($9.8 billion), the latest fundraising by the Indian automaker as it looks to ramp up EV sales. Temasek will take up to a 3% stake in the company which… Continue reading Mahindra EV unit raises $145m from Temasek at $9.8bn valuation
Vietnam Vingroup’s ambition to take on Tesla hits bumpy road
HANOI — Vietnamese conglomerate Vingroup has made a big bet on the global shift to electric vehicles. But its EV business has struggled to take off, bogged down by a domestic market slow to embrace electrification and a troubled rollout in the U.S. market. VinFast, the group’s EV arm, boasts a cutting-edge production facility on… Continue reading Vietnam Vingroup’s ambition to take on Tesla hits bumpy road
EV boom threatens supply of lifesaving medicine in Japan
TOKYO — The global electric vehicle boom threatens to exacerbate shortages of cheap but lifesaving drugs in Japan as soaring demand for EV battery materials like lithium pushes prices of key ingredients higher. Japan’s Mitsubishi Tanabe Pharma plans to end production and sales of lithium carbonate tablets, used for treating manic episodes of bipolar disorder, due… Continue reading EV boom threatens supply of lifesaving medicine in Japan
Thai power giant to partner with Chinese on EV battery plant
BANGKOK — Energy Absolute, Thailand’s top renewable power operator, is choosing from two Chinese producers of electric vehicle batteries to build a new factory in Thailand. The company is in talks with EVE Energy, China’s third-largest lithium-ion battery producer, according to a filing with the Stock Exchange of Thailand. Go to Source