BEIRUT (Reuters) — Carlos Ghosn said on Tuesday he will fight “to the end” in a $1 billion lawsuit the former Nissan chairman has brought against the Japanese carmaker, marking his first such challenge. Ghosn’s lawsuit, which he filed in Lebanon and a copy of which was seen by Reuters, includes allegations of defamation, slander,… Continue reading Carlos Ghosn sues Nissan for $1bn in Lebanon
Author: Nikki News Feed
Denso sells all Suzuki and most Honda shares to trim portfolio
NAGOYA, Japan — Japanese auto parts supplier Denso sold all 16.4 billion yen ($116 million) of its Suzuki Motor stock by the end of March as it continued a pivot away from holding shares for strategic purposes. Denso also unloaded 11.4 billion yen of stock in Honda Motor — equivalent to more than 70% of… Continue reading Denso sells all Suzuki and most Honda shares to trim portfolio
Denso sells all Suzuki and most Honda shares to trim portfolio
NAGOYA, Japan — Japanese auto parts supplier Denso sold all 16.4 billion yen ($116 million) of its Suzuki Motor stock by the end of March as it continued a pivot away from holding shares for strategic purposes. Denso also unloaded 11.4 billion yen of stock in Honda Motor — equivalent to more than 70% of… Continue reading Denso sells all Suzuki and most Honda shares to trim portfolio
Honda, Ford join push to set rules for blockchain ‘battery passport’
FRANKFURT, Germany — A consortium of more than 120 global companies including Honda Motor and Ford Motor has compiled draft standards on blockchain-based “battery passports” that will let users track each battery’s environmental and social footprints. The European Union has decided to require such digital documentation for batteries starting in 2026. With the U.S. and… Continue reading Honda, Ford join push to set rules for blockchain ‘battery passport’
Hyundai says to invest $85bn by 2032 with focus on EVs
SEOUL — South Korea’s Hyundai Motor said on Tuesday that it will invest 109.4 trillion won ($85.1 billion) by the end of 2032, with a third of that spent on accelerating its electric vehicle business. Hyundai, the world’s third-largest automaker in tandem with affiliate Kia, said that it will allocate 35.8 trillion won of the funds for the transition to electrification,… Continue reading Hyundai says to invest $85bn by 2032 with focus on EVs
Malaysia’s Carsome raises funds, including debt, from EvolutionX
CEBU, Philippines — Southeast Asian used car marketplace Carsome announced that it has raised fresh capital via a mix of equity and debt in its latest financing round. While the actual quantum of the funds raised was not disclosed, the Malaysia-based company said the round brings the group’s liquidity position to $200 million. Go to… Continue reading Malaysia’s Carsome raises funds, including debt, from EvolutionX
VKTR, BYD’s Indonesian partner, closes up 11% in stock debut
JAKARTA — Shares of VKTR Teknologi Mobilitas closed 11% higher in their stock market debut at the Jakarta bourse on Monday, with the company unveiling details of its plan to assemble electric buses and trucks in Indonesia with Chinese partner BYD. VKTR’s share price surged at the open to 131 rupiah, up 31% from the… Continue reading VKTR, BYD’s Indonesian partner, closes up 11% in stock debut
Harley-Davidson to debut ‘e-hogs’ in Japan next year
TOKYO — U.S. motorcycle maker Harley-Davidson plans to introduce an electric model in the Japanese market in 2024, its CEO told Nikkei on Friday. The company is deciding whether to sell the LiveWire One — which is already available in the U.S. — in Japan next year, or go with a new model that has yet to be… Continue reading Harley-Davidson to debut ‘e-hogs’ in Japan next year
Toyota to expand Japan EV battery output with $850m subsidy
TOKYO/NAGOYA — Japan’s industry ministry will provide a roughly 120 billion yen ($853 million) subsidy to Toyota Motor to expand its production of electric-vehicle batteries, Nikkei has learned, in a bid to boost domestic output and curb supply chain risks. The Ministry of Economy, Trade and Industry has designated storage batteries as crucial to Japan’s… Continue reading Toyota to expand Japan EV battery output with $850m subsidy
Upgraded earnings forecasts drive Nikkei’s winning streak
TOKYO — A succession of upgraded earnings projections from analysts is bolstering gains in Japanese stock prices, with the market ending trading Wednesday on a four-session winning streak. The Nikkei Stock Average added 1.5% to finish at 33,502 points, reaching a level not seen since March 1990. Go to Source