MUMBAI — Honda Motor intends to offer an electric vehicle in India within three years as part of the Japanese automaker’s bid to capture growing demand for EVs in a major global market. Local subsidiary Honda Cars India made the announcement Tuesday while debuting the new Elevate sport utility vehicle at an event in New Delhi. The Elevate is… Continue reading Honda to roll out EV model in India within 3 years
Author: Nikki News Feed
Panasonic to boost EV battery output at Tesla’s Gigafactory Nevada
TOKYO — Japanese electronics giant Panasonic will expand production of electric vehicle batteries at a factory in Nevada jointly operated with Tesla, its biggest customer. The company has accelerated plans to increase battery production capacity, responding to pressure from the American EV maker. Tesla recently told Panasonic that it would “buy as much as [Panasonic]… Continue reading Panasonic to boost EV battery output at Tesla’s Gigafactory Nevada
Musk’s China visit reveals dealmaking for Tesla’s expansion
NEW YORK/SHANGHAI — Tesla CEO Elon Musk has fully launched a charm campaign to persuade Chinese authorities to greenlight plans to expand business in the world’s largest electric-vehicle market, despite concerns over excessive competition. Musk arrived in Beijing on Tuesday of last week, marking his first visit to China in three years. He spent two… Continue reading Musk’s China visit reveals dealmaking for Tesla’s expansion
North American EV investments to surpass $140bn: Nikkei estimate
TOKYO — Global investment related to electric vehicles is growing rapidly in North America, with the world’s 10 largest automakers spending about $140 billion there between 2022 to 2028, according to a Nikkei estimate. The Inflation Reduction Act passed by the U.S. Congress last year is seen adding impetus to the trend, raising concerns among U.S. trading partners that their… Continue reading North American EV investments to surpass $140bn: Nikkei estimate
California, New York pensions vote against Toyota chief reelection
TOKYO (Reuters) — Two of the largest U.S. public pension systems have voted against the reelection of Toyota Motor Chairman Akio Toyoda, shareholder voting records showed, sharpening the focus on the automaker’s annual meeting later this month. The California Public Employees’ Retirement System (CalPERS) and the Office of the New York City Comptroller both also… Continue reading California, New York pensions vote against Toyota chief reelection
Tata’s EV dominance in India faces challengers even without Tesla
MUMBAI — Hyundai Motor and MG are among the electric vehicle makers challenging Tata Motors’ dominance in India, a market where Tesla has yet to arrive and Chinese automakers face hurdles to investment. Hyundai Motor India plans to invest 200 billion rupees ($2.42 billion) over 10 years to develop an electric vehicle supply chain and… Continue reading Tata’s EV dominance in India faces challengers even without Tesla
Toyota, Honda, Nissan trail Tesla and BYD in global EV race: report
FRANKFURT, Germany — Japanese automakers received the lowest marks on their shift to electric vehicles in a report out Wednesday, trailing leaders Tesla and BYD by wide margins. Toyota Motor, Honda Motor, Nissan Motor, Mazda Motor and Suzuki Motor were all deemed “laggards” — the worst of the three grades — in the overall ranking… Continue reading Toyota, Honda, Nissan trail Tesla and BYD in global EV race: report
Toyota pledges $2.1bn more for U.S. EV battery plant
(Reuters) — Toyota Motor said on Wednesday it will invest $2.1 billion more in its new U.S. battery plant in North Carolina, as the Japanese automaker deepens efforts to tap rising demand for electric vehicles. The automaker also said its first U.S.-made battery electric sports utility vehicles (SUVs) will be assembled at the company’s Kentucky plant from… Continue reading Toyota pledges $2.1bn more for U.S. EV battery plant
With Daimler Truck tie-up, Toyota turns outside to rebuild scandal-hit Hino
TOKYO/NAGOYA, Japan — For Toyota Motor, plans to join forces with Germany’s Daimler Truck mark a new stage in efforts to turn around scandal-damaged subsidiary Hino Motors. Toyota holds a 50.1% stake in Hino. But Hino no longer will be a Toyota subsidiary after it goes under a new holding company alongside Daimler-owned Mitsubishi Fuso Truck and… Continue reading With Daimler Truck tie-up, Toyota turns outside to rebuild scandal-hit Hino
China calls for ‘stable’ ties with U.S. in meeting with Elon Musk
SEOUL/HONG KONG (Financial Times) — China has called for “stable and constructive” ties with the U.S. in a meeting with Elon Musk that highlighted the complex relationship between Beijing and the billionaire boss of Tesla, Twitter and SpaceX. In a statement, the Chinese foreign ministry quoted Musk, who arrived in Beijing on Tuesday for his… Continue reading China calls for ‘stable’ ties with U.S. in meeting with Elon Musk