SEOUL/TOKYO — South Korean automaker Kia, part of the Hyundai Motor Group, is focusing on purpose-built electric vehicles targeting delivery and taxi services, with plans to sell 1 million of the customizable EVs in 2030. Purpose-built vehicles are made to order and can be adjusted in terms of size, interior, load capacity, battery capacity and other… Continue reading Kia aims to sell 1m custom electric delivery trucks, taxis in 2030
Author: Nikki News Feed
South Korea’s Hyundai to invest $2.45bn in Indian state
CHENNAI, India (Reuters) — South Korea’s Hyundai Motor Co said on Thursday it will invest 200 billion rupees ($2.45 billion) in the Indian state of Tamil Nadu over the next 10 years to beef up electric vehicle production in the world’s most populous country. Tamil Nadu’s Chennai, dubbed the Detroit of Asia, is a hub… Continue reading South Korea’s Hyundai to invest $2.45bn in Indian state
China’s SAIC Motor to make EV batteries in Thailand this year
BANGKOK — Shanghai-based SAIC Motor has broken ground on an industrial park in Thailand due to begin making batteries for electric vehicles later this year. Group company SAIC Motor-CP, a joint venture with top Thai conglomerate Charoen Pokphand Group, is building the industrial complex in eastern Thailand’s Chonburi province. The initial investment is about 500… Continue reading China’s SAIC Motor to make EV batteries in Thailand this year
Toyota sees profit climbing 5% this year under new management
TOKYO — Toyota Motor expects a net income of 2.58 trillion yen ($19 billion) for the current business year through next March, up 5.2% from fiscal 2022, as the new management seeks to establish a profitable business model while making the investments needed to catch up with fast-moving competitors in electric vehicles and auto software… Continue reading Toyota sees profit climbing 5% this year under new management
Subaru aims to go from making zero EVs to 300,000 in own plants by 2030
TOKYO — Subaru plans to increase its capacity to produce electric vehicles in Japan to 300,000 a year by around 2030, rolling out new models made in its factories as tries to catch up with the shift to electric vehicles. Subaru, which produces no EVs on its own now, will begin production of EVs alongside gasoline engine cars in… Continue reading Subaru aims to go from making zero EVs to 300,000 in own plants by 2030
Japan to require disclosure of CO2 emitted by EV battery production
TOKYO — The Japanese government plans to require the country’s EV manufacturers to calculate and report the amount of carbon dioxide emitted during the production of batteries, Nikkei has learned, aiming to use the data to determine eligibility for subsidies. The Ministry of Economy, Trade and Industry plans to introduce the requirement, which will apply… Continue reading Japan to require disclosure of CO2 emitted by EV battery production
China’s BYD expands beyond iPads, to produce EVs in Vietnam
HO CHI MINH CITY — Vietnam said China’s BYD will make electric vehicles in the Southeast Asian country, where it already produces iPads among a rising number of incoming Apple suppliers. BYD, which is looking to dethrone Tesla by production volume, will manufacture EVs in Vietnam for domestic drivers and for export in Southeast Asia,… Continue reading China’s BYD expands beyond iPads, to produce EVs in Vietnam
Toyota suspends sales of Yaris model in Thailand after safety problem
BANGKOK (Reuters) — Japanese carmaker Toyota Motor Corp has stopped sales and deliveries of its Yaris Ativ in Thailand, senior officials said on Monday, after its affiliate Daihatsu rigged part of the door in side-collision safety tests. Speaking at a press conference in Bangkok, Toyota’s CEO for the Asia region, Masahiko Maeda, said the problem… Continue reading Toyota suspends sales of Yaris model in Thailand after safety problem
Toyota, Nintendo and Daikin lead expected Japan earnings beaters
TOKYO — Toyota Motor, Nintendo and Daikin Industries are among Japanese companies expected to surpass their profit forecasts for the year ended in March thanks to production and currency tailwinds, according to analyst projections ahead of the earnings season that starts this week. Toyota is expected to outperform on net profit by the widest margin —… Continue reading Toyota, Nintendo and Daikin lead expected Japan earnings beaters
Japan’s Mitsubishi Materials aims to start cobalt production in Chile
Japan’s Mitsubishi Materials aims to start cobalt production in Chile – Nikkei Asia Arrow Artboard Created with Sketch. Artboard Created with Sketch. Title Chevron Title Chevron Icon Facebook Icon Linkedin Icon Mail Contact Path Layer Icon Mail Positive Arrow Icon Print Materials Move would diversify supply chain of metal important for making EV batteries Most… Continue reading Japan’s Mitsubishi Materials aims to start cobalt production in Chile