SAO PAULO (Reuters) — Chinese automaker BYD on Tuesday said it will invest 3 billion reals ($620 million) in a new industrial complex in northeastern Brazil, aiming to boost local production to offer more competitive prices. The complex, made up of three plants, will be built in the Camacari industrial park in the northeastern state… Continue reading China’s BYD to invest $620m in Brazil industrial complex
Author: Nikki News Feed
China’s CATL finds battery research help in small east German town
ARNSTADT, Germany — In the fields just outside the small east German town of Arnstadt, China’s top automotive battery maker has joined forces with Germany’s foremost applied research organization on a scientific investigation with global implications. Contemporary Amperex Technology (CATL) set up its first plant outside China in the town after authorities in the German… Continue reading China’s CATL finds battery research help in small east German town
Lotte Chemical to invest $2.3bn in copper foil for EV batteries
SEOUL — Lotte Chemical plans to boost production of copper foil for electric vehicle batteries, the South Korean company said Tuesday, in an investment expected to reach 3 trillion won ($2.3 billion) through 2028. Listed subsidiary Lotte Energy Materials makes copper foil used to wrap the anodes of lithium-ion batteries. This foil needs to meet stringent standards… Continue reading Lotte Chemical to invest $2.3bn in copper foil for EV batteries
China’s Great Wall Motor to enter Vietnam amid peers’ ASEAN push
Great Wall Motor said last week that it will enter the Vietnamese market in August with its Haval H6 hybrid model, while a broader plan to build an assembly plant for new-energy vehicles in the country is set for 2025. The Haval H6s will initially be exported to Vietnam from its manufacturing facility in Rayong,… Continue reading China’s Great Wall Motor to enter Vietnam amid peers’ ASEAN push
China limits exports of chipmaking metals in trade spat with U.S.
BEIJING/TOKYO — China said Monday that it will impose new export restrictions on two metals crucial to making semiconductors and other electronic components, in an escalating technology trade standoff with the U.S. Exporters will be unable to ship gallium and germanium, as well as related chemical compounds, out of China without a permit starting Aug. 1,… Continue reading China limits exports of chipmaking metals in trade spat with U.S.
Foxconn to invest $250m in Vietnam to produce EV parts
HANOI — Taiwanese contract manufacturer Foxconn plans to invest about $250 million to build two new plants in northern Vietnam, including one that will make components for electric vehicles. The factories will be at an industrial park in Quang Ninh province, 86 miles east of Hanoi, local officials say. The move is part of the Apple supplier’s… Continue reading Foxconn to invest $250m in Vietnam to produce EV parts
Mazda to consolidate China dealer networks in EV push
TOKYO — Mazda is merging its Chinese sales arms into one, to concentrate its resources and cut costs, as the Chinese electric vehicle market becomes more competitive and the Japanese carmaker’s sales struggle to keep up with Chinese and American rivals including Chinese electric vehicle giant BYD and Tesla of the U.S. Changan Mazda, a… Continue reading Mazda to consolidate China dealer networks in EV push
Indonesia’s Jokowi eyes EV lithium deals on Australia visit
MELBOURNE — Indonesian leader Joko “Jokowi” Widodo heads to Sydney on Monday for an official visit as he looks to propel Jakarta’s electric-vehicle battery hub ambitions by tapping Australia’s bumper lithium resources. The three-day trip includes an annual leaders’ meeting with Prime Minister Anthony Albanese as the neighbors work to boost trade ties seen as… Continue reading Indonesia’s Jokowi eyes EV lithium deals on Australia visit
Tesla 20 years on: EV leader’s rise sparked by Toyota partnership
NEW YORK — Founded 20 years ago, Tesla’s path to becoming the top electric vehicle manufacturer was paved through a 2010 partnership with Toyota. The tie-up was dissolved several years later, but Tesla, which marked the 20th anniversary of its founding on Saturday, secured its first factory from Toyota as well as mass production know-how. Now,… Continue reading Tesla 20 years on: EV leader’s rise sparked by Toyota partnership
Toyota smart city project backed by ex-CEO sinks deeper into red
NAGOYA, Japan — A Toyota Motor subsidiary working to build a smart “Woven City” near Mount Fuji held 6 billion yen ($41.5 million) more in liabilities than assets as of the end of March, according to earnings documents disclosed by Friday. Toyota and Tokyo-based unit Woven Planet Holdings broke ground on the project in Shizuoka… Continue reading Toyota smart city project backed by ex-CEO sinks deeper into red