SHANGHAI — Beijing SinoHytec, China’s largest fuel cell maker, is struggling to find its way in the world’s largest electric vehicle market, with languid passenger car sales forcing a shift to commercial trucks and buses. Sales for a fuel cell vehicle it developed with Chinese state-owned automaker Changan Automobile have been close to nonexistent a year after the model was launched. Go… Continue reading China’s fuel cell vehicle push stalls out amid EV boom
Author: Nikki News Feed
GAC-Mitsubishi auto JV in China suspends production, cuts staff
HONG KONG — A joint venture between China’s Guangzhou Automobile Group (GAC) and Mitsubishi of Japan has temporarily halted production and started to cut its workforce following years of falling sales. A letter to employees of GAC Mitsubishi Motors dated Wednesday and cosigned by President Kenichiro Yamamoto and Vice President Li Quming said the joint… Continue reading GAC-Mitsubishi auto JV in China suspends production, cuts staff
Malaysia’s Anwar discusses Tesla investment, Starlink with Musk
KUALA LUMPUR (Reuters) — Malaysian Prime Minister Anwar Ibrahim said on Friday he had held a call with billionaire Elon Musk to discuss automaker Tesla’s investment in the country and SpaceX’s satellite communications service. “I welcome the company’s interest and decision to invest in Malaysia, and Elon Musk’s willingness to come to Malaysia,” Anwar said… Continue reading Malaysia’s Anwar discusses Tesla investment, Starlink with Musk
Mitsui Sumitomo Insurance to cover EV battery problems in China
TOKYO/OSAKA — Mitsui Sumitomo Insurance is developing a new insurance policy focused on electric vehicles that will cover the cost of inspections, tows and other inconveniences stemming from faulty EV batteries. The Japanese property insurance giant plans to roll out the new service first in China, as early as in the current fiscal year ending… Continue reading Mitsui Sumitomo Insurance to cover EV battery problems in China
LG Electronics aims to double automotive sales to $16bn by 2030
SEOUL — LG Electronics targets revenue of 20 trillion won ($15.6 billion) for its automotive components segment in 2030, more than doubling last year’s sales, the South Korean company said Wednesday, The company aims to reach the target by expanding sales of infotainment equipment, such as car navigation and audio systems, as well as electric vehicle components. LG… Continue reading LG Electronics aims to double automotive sales to $16bn by 2030
Chinese auto sales grew 9.8% in the first half, helped by low base
SHANGHAI — China’s vehicle sales grew 9.8% to 13.24 million in the first half of 2023, partly driven by a low base in the same period last year, an industry group announced on Tuesday. It left its 3% growth projection for the full year intact. The growth was artificially high, especially in the second quarter due… Continue reading Chinese auto sales grew 9.8% in the first half, helped by low base
Geely, Renault to develop gasoline engines, hybrid technology
(Reuters) — China’s Geely Automobile Holdings and French carmaker Renault on Tuesday said they will invest up to 7 billion euros ($7.71 billion) in a new equally held joint venture to develop gasoline engines and hybrid technology for automobiles. The JV is aimed at manufacturing more efficient internal combustion engines and hybrid systems at a… Continue reading Geely, Renault to develop gasoline engines, hybrid technology
Will Sony become more successful than Suzuki in India?
TOKYO — “The Indian Way: Strategies for an Uncertain World,” a book published in 2020 by Indian Foreign Minister Subrahmanyam Jaishankar and widely read in Japan and elsewhere, is intriguing because it explains in an easy-to-understand way how India, which belongs to the democratic camp but places importance on its relations with China and Russia,… Continue reading Will Sony become more successful than Suzuki in India?
Chinese battery maker CATL joins U.N. initiative on human rights
GUANGZHOU — Chinese automotive battery giant CATL has joined a U.N. framework for protecting human rights, the company announced on Monday, seeking to gain credentials to expand overseas business as the U.S. and other countries tackle forced labor in supply chains. CATL joined the United Nations Global Compact, a non-binding corporate sustainability initiative. The pact calls… Continue reading Chinese battery maker CATL joins U.N. initiative on human rights
Chinese battery maker CATL joins U.N. initiative on human rights
GUANGZHOU — Chinese automotive battery giant CATL has joined a U.N. framework for protecting human rights, the company announced on Monday, seeking to gain credentials to expand overseas business as the U.S. and other countries tackle forced labor in supply chains. CATL joined the United Nations Global Compact, a non-binding corporate sustainability initiative. The pact calls… Continue reading Chinese battery maker CATL joins U.N. initiative on human rights