JAKARTA — Indonesia-based Swap Energy, which provides battery-swapping solutions for two-wheeled electric vehicles (EVs), has raised about $7.2 million in a pre-Series A funding round led by Ondine Capital, according to regulatory filings. The company had announced the round last month without disclosing the amount of capital raised. Go to Source
Author: Nikki News Feed
Global rare metal prices sink on sluggish Chinese auto demand
TOKYO — International prices on rare metals used in auto production, including magnesium and lithium, are plunging, reflecting lackluster demand in China. The export price of Chinese magnesium, used for aluminum alloys, to Japan sank to around $2,950 per tonne in late March, the lowest price since May 2021, and 75% below the all-time high of… Continue reading Global rare metal prices sink on sluggish Chinese auto demand
Indonesian EV battery startup Swap Energy raises $7.2m
JAKARTA — Indonesia-based Swap Energy, which provides battery-swapping solutions for two-wheeled electric vehicles (EVs), has raised about $7.2 million in a pre-Series A funding round led by Ondine Capital, according to regulatory filings. The company had announced the round last month without disclosing the amount of capital raised. Go to Source
Tesla posts record deliveries but misses estimates on weak economy
(Reuters) — Tesla on Sunday missed estimates for first-quarter deliveries as rising competition and a bleak economic outlook overshadowed the electric-vehicle maker’s efforts to prop up demand with price cuts. Tesla deliveries were 36% higher than a year ago, but below the 52% growth rate that was projected by Chief Executive Elon Musk early this year. Investors… Continue reading Tesla posts record deliveries but misses estimates on weak economy
Australia and Indonesia should forge business ties in lithium
Australia and Indonesia should forge business ties in lithium – 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 Opinion Missing ingredient for Widodo’s vision for EV sector is close at hand Nicholas Basan… Continue reading Australia and Indonesia should forge business ties in lithium
Great Wall Motor’s Russia revenue jumps 73% as rivals recede
HONG KONG — Great Wall Motor, China’s largest maker of sport utility vehicles, saw revenue in Russia surge last year as Western and Japanese rivals pulled back from a market hit by Western sanctions in response to the war in Ukraine. The Chinese automaker’s revenue in Russia rose 73% on the year to reached 8.57 billion yuan… Continue reading Great Wall Motor’s Russia revenue jumps 73% as rivals recede
U.S. EV tax break leaves out imports in blow to Japanese, European autos
WASHINGTON/TOKYO — The U.S. Treasury Department announced guidelines Friday for new tax breaks on electric cars that exclude vehicles assembled outside North America, leaving Asian and European automakers to boost American production or face a disadvantage with car buyers. The measure starting this year offers tax credits of up to $7,500 for buyers of new electric… Continue reading U.S. EV tax break leaves out imports in blow to Japanese, European autos
Ford signs nickel smelter deal with Vale Indonesia, Huayou
Ford signs nickel smelter deal with Vale Indonesia, Huayou – 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 Automobiles Equity investments are part of $4.5bn development of Sulawesi block Workers monitor operations at a… Continue reading Ford signs nickel smelter deal with Vale Indonesia, Huayou
China battery maker Gotion plugs into VW for global expansion
GUANGZHOU — For Li Zhen, the chairman of Gotion High-Tech, the major Chinese electric vehicle battery maker has become too big for its home turf. “The Chinese market is only a bit more than a quarter of the global market,” Li said in a recent interview with Nikkei. “Now that vehicles are undergoing electrification the world… Continue reading China battery maker Gotion plugs into VW for global expansion
Tokyo-Nagoya expressway will have self-driving lane next year
TOKYO — A section of Japan’s busiest expressway connecting Tokyo and Nagoya will be set aside for self-driving trucks in 2024 as part of government plans to cope with a severe shortage of drivers in this rapidly aging nation. The self-driving lane will run along a section of the Shin-Tomei Expressway, covering some 100 kilometers between Numazu and Hamamatsu —… Continue reading Tokyo-Nagoya expressway will have self-driving lane next year