TOKYO (Reuters) — Japan’s Toyota Motor set a global annual output record in the business year ended in March, just edging past its target of 9.1 million vehicles as factory disruption from global chip supply woes and pandemic lockdowns eased. But the world’s biggest automaker by sales warned it continued to see impacts from the… Continue reading Toyota edges past 9.1m output goal, setting global annual record
Author: Nikki News Feed
VinFast chair to give $1bn to Vietnam EV maker amid U.S. IPO aims
HO CHI MINH CITY — Electric vehicle producer VinFast is set to receive $1 billion from Vietnam’s richest man, whose wealth Forbes estimates at $4.2 billion. The “nonrefundable grant” from Pham Nhat Vuong, founder and chairman of VinFast parent Vingroup, was announced by the conglomerate late on Wednesday, and would add to Vingroup’s plans to… Continue reading VinFast chair to give $1bn to Vietnam EV maker amid U.S. IPO aims
TDK to double output of advanced automobile sensors
TOKYO — TDK, a leading Japanese electronics company, plans to double production capacity for high-precision magnetic sensors for automobiles by mid-2025, Nikkei has learned. Demand for sensors is expanding as autonomous driving functions become increasingly sophisticated. Go to Source
Honda Motor taps TSMC to ensure ‘stable’ supply of chips
TOKYO — Honda Motor will collaborate with Taiwan Semiconductor Manufacturing Co. to ensure a “stable” supply of chips, the automaker announced on Wednesday, as it unveiled its latest strategy for the electric vehicle market. The agreement with the world’s largest chipmaker follows a difficult period for Japanese automakers in which production plans were hit by… Continue reading Honda Motor taps TSMC to ensure ‘stable’ supply of chips
EV revolution in developing Asia needs cheaper models: report
TOKYO — Electric vehicle sales are rising quickly in developing Asian countries but further growth will depend on offering cheaper models, many running on two or three wheels, the International Energy Agency said in a report published Wednesday. The IEA said global consumers bought 10 million EVs in 2022, with 95% of sales concentrated in… Continue reading EV revolution in developing Asia needs cheaper models: report
Toyota supplier’s $740m battery investment backs bold EV target
TOKYO — Toyota Motor’s battery subsidiary will invest 100 billion yen ($746 million) to boost the affiliate’s planned production capacity by more than 40%. Securing batteries will be key to achieving Toyota’s new electric vehicle production target. Under the management of newly appointed President and CEO Koji Sato, Toyota plans to sell 1.5 million EVs… Continue reading Toyota supplier’s $740m battery investment backs bold EV target
Nidec CEO Nagamori says talk of record profits ‘not enough’
KYOTO, Japan/OSAKA — Nidec Chairman and CEO Shigenobu Nagamori on Tuesday stressed his commitment to restoring investor confidence in the company as it anticipates record profits following a tumultuous year. “Right now, talk alone is not enough to convince investors to have faith in us,” Nagamori told reporters at an earnings briefing in Tokyo, citing… Continue reading Nidec CEO Nagamori says talk of record profits ‘not enough’
Huawei scraps expensive precision maps in self-driving cars
GUANGZHOU — Huawei and other Chinese self-driving car companies are developing alternative technologies to high-definitions maps as the precision required for autonomous vehicles makes the mapping process prohibitively expensive. “High-definition maps are very expensive,” said Huawei senior executive Yu Chengdong at Auto Shanghai show on April 16. “We have been collecting data in Shanghai for one or… Continue reading Huawei scraps expensive precision maps in self-driving cars
Hyundai plans U.S. EV battery plant, posts Q1 profit jump
SEOUL — Hyundai Motor on Tuesday said it would set up an electric vehicle battery factory in the U.S. with fellow South Korean joint-venture partner SK On, as the automaker reported an 86.3% annual rise in operating profit to 3.6 trillion won ($2.7 billion) in the first quarter. Hyundai Motor Group, which includes Hyundai Motor,… Continue reading Hyundai plans U.S. EV battery plant, posts Q1 profit jump
Singapore EV battery startup Oyika secures $8.75m in funding
BANGKOK — Singapore-based smart-battery-swapping startup Oyika has secured fresh funding from BPIN Investment, a unit of Thailand’s smart-energy company Banpu Next, according to regulatory filings. Banpu Next, a subsidiary of Bangkok-listed energy giant Banpu, is investing $8.75 million in Oyika as part of its Series B round, according to Oyika’s filings with Singapore’s Accounting and… Continue reading Singapore EV battery startup Oyika secures $8.75m in funding