HO CHI MINH CITY — VinFast has debuted its cheapest electric car yet, a $23,000 model for sale in Vietnam, a market where Chinese rivals are streaming in even as motorbikes continue to rule the roads. The electric-vehicle arm of Vingroup said late on Friday that it is “targeting the broadest range of consumers” with… Continue reading Vietnam’s VinFast debuts budget EV as Chinese rivals jump in
Author: Nikki News Feed
Jokowi squeezes key EV material exports to spur Indonesian industry
JAKARTA — Indonesia’s ambition to become a leader in electric vehicles is sparking friction with the rest of the world, as the country bans exports of critical materials in favor of attracting investment and fostering related industries at home. “We are not closing ourselves. Instead, we are very open to investment and cooperation in building downstream industry… Continue reading Jokowi squeezes key EV material exports to spur Indonesian industry
Baidu teams with Chinese chip startup on smart car tech
SHANGHAI — Chinese tech company Baidu has partnered with a domestic chipmaking startup to develop intelligent systems for assisting drivers. Baidu announced the partnership with Black Sesame Technologies during this year’s Auto Shanghai expo, which opened this week. The company will combine its intelligent driving solutions with Black Sesame’s chips to create an integrated system slated for… Continue reading Baidu teams with Chinese chip startup on smart car tech
Toyota CEO Sato pledges to cut CO2 ‘more than half’ by 2035
NAGOYA — Toyota Motor will accelerate its decarbonization drive to cut the amount of carbon dioxide emissions per new car sold around the world by more than 50% from the 2019 level by 2035, President and CEO Koji Sato said. Toyota will promote a shift from gasoline-powered cars to hybrid vehicles, electric vehicles and others,… Continue reading Toyota CEO Sato pledges to cut CO2 ‘more than half’ by 2035
Thailand nabs $285m Changan EV plant as Chinese investment booms
BANGKOK — Changan Automobile will begin producing electric vehicles in Thailand, its first manufacturing base outside China as the state-owned automaker seeks to drive overseas sales. Changan will make an initial investment of 9.8 billion baht ($285 million), the Thai Board of Investments said on Thursday. The automaker will invest a total of 4 billion… Continue reading Thailand nabs $285m Changan EV plant as Chinese investment booms
Hyundai Motor shoots for the moon with lunar rover
SEOUL — Hyundai Motor Group said on Thursday that it has started building an initial development model for a lunar exploration rover in cooperation with South Korean aerospace partners as it seeks a place in the expanding space industry. The group, which includes automakers Hyundai Motor and Kia as well as companies engaged in auto… Continue reading Hyundai Motor shoots for the moon with lunar rover
In China’s EV market, foreign automakers race to catch up
SHANGHAI — Volkswagen, Toyota and other global automakers are rolling out their latest electric-vehicle models at China’s biggest auto show as they scramble to catch up with domestic rivals that have left them in the dust. The 20th Shanghai International Automobile Industry Exhibition has drawn more than 1,000 industry players to the world’s biggest EV… Continue reading In China’s EV market, foreign automakers race to catch up
Tesla profit falls 24% in Q1 after price cuts in China, other markets
PALO ALTO, U.S. — Tesla reported lackluster first quarter results after the bell Wednesday, with net income dropping sharply after the American electric vehicle maker cut prices in several markets including China and the U.S. For the three months ended March, Tesla recorded $23.3 billion in revenue, up 24% year over year. However, the company… Continue reading Tesla profit falls 24% in Q1 after price cuts in China, other markets
Toyota to invest $334m to make compact biofuel hybrids in Brazil
SAO PAULO — Toyota Motor said Wednesday that it will spend 1.7 billion reals ($334 million) in Brazil to produce a new compact hybrid vehicle that can be powered by biofuel. Brazil is home to a growing number of so-called flex fuel vehicles that run on either all bioethanol, all gasoline or a mixture of… Continue reading Toyota to invest $334m to make compact biofuel hybrids in Brazil
Honda and VW hedge bets on decoupling with China EV plants
SHANGHAI — Major global automakers are boosting production of electric vehicles in China, hedging against the risk of supply chain disruptions amid bilateral tensions with the U.S. As the world’s largest EV market, with sales estimated to reach 9 million vehicles this year, China is too big to ignore despite the geopolitical risks. At the… Continue reading Honda and VW hedge bets on decoupling with China EV plants