TOKYO — Prices for metals used in electric vehicles are falling, with the value of lithium down nearly 50% from a recent peak last fall, as EV demand slows down in the largest market of China. With resource producers planning output expansion, prices for those materials, including cobalt and nickel, are expected to remain soft for… Continue reading Chinese EV market slowdown slashes lithium, cobalt prices
Author: Nikki News Feed
Japan to teach teenagers to make EV batteries amid labor shortage
TOKYO — Japanese teenagers will be taught to make batteries for electric vehicles as part of a national effort starting this year to overcome labor shortages in the industry. A plan to train 30,000 battery-related workers by 2030 — in addition to the current workforce of about 10,000 — was detailed in March by the… Continue reading Japan to teach teenagers to make EV batteries amid labor shortage
Japan’s EV market sees Mitsubishi team up with top electronics store
TOKYO — Japan’s largest operator of consumer electronics stores will start selling electric vehicles from Mitsubishi Motors again next month, in its latest tie-up with the automaker, Nikkei has learned. Yamada Holdings, the operator of the Yamada Denki chain, will sell the eK X minicar and the Minicab-MiEV commercial van. Go to Source
Nissan consolidates leadership under CEO Uchida as Renault talks continue
TOKYO — Nissan Motor has put more authority into the hands of President and CEO Makoto Uchida in a leadership reshuffle as the automaker tries to reset its business alliance with Renault. Nissan will leave the post of chief operating officer vacant for the time being, the company said Tuesday, on the day shareholders approved its new board. … Continue reading Nissan consolidates leadership under CEO Uchida as Renault talks continue
Lordstown Motors files for bankruptcy, sues Foxconn
NEW YORK (Reuters) — Lordstown Motors filed for bankruptcy protection on Tuesday and put itself up for sale after the U.S. electric truck manufacturer failed to resolve a dispute over a promised investment from Taiwan company Foxconn. Lordstown, named after the Ohio town where it is based, filed for Chapter 11 protection in Delaware and… Continue reading Lordstown Motors files for bankruptcy, sues Foxconn
China’s GAC unveils flying car that can travel on road
GUANGZHOU, China — Chinese state-owned automaker Guangzhou Automobile Group (GAC) unveiled a flying car concept that can also be driven on streets Monday, one of many companies boosting research and development to make the futuristic mode of transport a present-day reality. Dubbed GOVE, the one-seater combines a passenger drone equipped with six sets of rotor blades with… Continue reading China’s GAC unveils flying car that can travel on road
Toyota to make hydrogen out of waste from Thailand’s CP, others
TOKYO — Toyota Motor announced Monday that it will start producing hydrogen in Thailand from November using biogas, a step forward in its project with Thai conglomerate Charoen Pokphand Group to utilize hydrogen to help decarbonize the country’s transport sector. The Japanese automaker will install equipment that makes hydrogen using biogas at Toyota’s Asia-Pacific headquarters… Continue reading Toyota to make hydrogen out of waste from Thailand’s CP, others
MIT spinoff to push wireless EV-recharging tech in Japan
TOKYO — An American developer of wireless electric-vehicle charging technology plans to enter the Japanese market as early as 2024, Nikkei has learned, by teaming up with Tokyo-based fuel seller Sinanen Holdings. WiTricity’s technology lets the driver simply stop over a charging pad instead of plugging in a cord. The partners will target facilities for… Continue reading MIT spinoff to push wireless EV-recharging tech in Japan
Japan’s MUFG to buy Indonesian car loan company
TOKYO — Mitsubishi UFJ Financial Group will acquire a major automobile loan provider in Indonesia for 7 trillion rupiah ($465 million), becoming the industry leader in that country, Nikkei has learned. This marks the latest instance of a Japanese megabank stepping up acquisitions in Southeast Asia to tap a growing middle class as the region’s… Continue reading Japan’s MUFG to buy Indonesian car loan company
Nissan and Renault still unable to seal new capital relationship
TOKYO — Nissan Motor and French automaker Renault are still unable to finalize the terms of their new capital relationship, originally set to be completed by the end of March, as management turmoil on the Japanese side stalls progress. The two companies are trying to equalize their stakes in each other at 15%. In an… Continue reading Nissan and Renault still unable to seal new capital relationship