Author: Nikki News Feed

Kawasaki Heavy sees aerospace, not motorcycles, driving future profits

TOKYO — Kawasaki Heavy Industries’ aerospace business is expected to outearn its motorcycle business in the fiscal year ending March 2025 as a global economic recovery fuels demand at key clients like Boeing. The company earned 98 billion yen ($684 million) in business profit, before eliminations and corporate items, for the fiscal year ended March… Continue reading Kawasaki Heavy sees aerospace, not motorcycles, driving future profits

Toyota’s record profits clouded by signs of overseas slowdown

NAGOYA, Japan — Although strong sales of hybrid and luxury vehicles boosted Toyota Motor’s net profit to an all-time quarterly high in the three months through June, the automaker is showing signs of losing momentum in markets beyond Japan where electric vehicles are gaining ground. The company sold a total of 2.53 million vehicles under… Continue reading Toyota’s record profits clouded by signs of overseas slowdown

Japan builds supply chain for EV battery minerals in Africa

TOKYO — Japan’s government plans to work with three African nations to develop supply chains for cobalt and other minerals critical in making electric vehicle batteries, Nikkei has learned. Tokyo will team with Zambia, the Democratic Republic of Congo and Namibia to expand joint exploration in each country. The projects are due to start as soon as within… Continue reading Japan builds supply chain for EV battery minerals in Africa

Toyota reports record profit despite Asia slowdown

TOKYO — Toyota Motor reported on Tuesday that its operating profit for the April-June period totaled 1.1 trillion yen ($7.7 billion), up 93.7% from the same period the previous year and a quarterly record for a Japanese company, as easing chip shortages and efforts to improve productivity boosted sales worldwide. Share prices rose 3.3% to… Continue reading Toyota reports record profit despite Asia slowdown

Toyota boosts China R&D in electrified vehicles

NAGOYA, Japan — Toyota Motor will consolidate a portion of its electrified-vehicle research and development in China, aiming to accelerate product releases in a fast-changing market. Toyota is renaming its largest Chinese R&D facility — the wholly owned Toyota Motor Engineering & Manufacturing (China) — to Intelligent ElectroMobility R&D Center by Toyota (China), effective Tuesday.… Continue reading Toyota boosts China R&D in electrified vehicles

Maruti Suzuki tapped to oversee group’s Indian auto production

TOKYO — Suzuki Motor announced plans Monday to consolidate auto production in India under local subsidiary Maruti Suzuki, as the Japanese automaker seeks to improve production efficiency. Under the move, Suzuki Motor Gujarat (SMG), a wholly owned subsidiary of Suzuki that manufactures four-wheeled vehicles, will become a wholly owned unit of Maruti Suzuki. The company plans… Continue reading Maruti Suzuki tapped to oversee group’s Indian auto production

VinFast plans U.S. listing in August after regulator nod

HANOI (Reuters) — Vietnamese electric-vehicle maker VinFast is planning to list in the United States next month via a blank-check company after the Securities and Exchange Commission gave the go-ahead to its proposed business combination. VinFast, which began operations in 2019, is gearing up to expand in the U.S., where it hopes its planned listing… Continue reading VinFast plans U.S. listing in August after regulator nod

India’s SK Finance in talks to raise $122m in funding

NEW DELHI — SK Finance, a non-banking financial company in India, is in talks with several investors to raise about 10 billion rupees ($122 million) as it looks to ramp up operations. According to multiple sources privy to the development, the deal is expected to be a mix of primary and secondary funding as the… Continue reading India’s SK Finance in talks to raise $122m in funding

Evergrande EV unit shares drop 68% after 16-month suspension ends

GUANGZHOU/HONG KONG — Shares in the electric vehicle arm of embattled property developer China Evergrande Group plunged 68% as trading in the company resumed on Friday after a nearly 16-month suspension. Trading of China Evergrande New Energy Vehicle Group on the Hong Kong Exchange had been halted since March 31, 2022, due to the company’s… Continue reading Evergrande EV unit shares drop 68% after 16-month suspension ends