BANGKOK — A Thai subsidiary of Taiwanese power supply and auto parts manufacturer Delta Electronics has overtaken the kingdom’s traditional stalwarts to become the most valuable company on the Stock Exchange of Thailand, as it capitalizes on the global electric vehicle boom. The shares of Delta Electronics Thailand have risen so high that it is now… Continue reading EV boom creates unlikely stock market star in Thailand
Author: Nikki News Feed
Subaru to nominate executive Atsushi Osaki as next president
TOKYO (Reuters) — Japanese automaker Subaru said on Friday Atsushi Osaki, executive vice president and manufacturing division chief general manager, would be appointed the next president and chief executive. Current President and Chief Executive Tomomi Nakamura would be nominated as next chairperson pending the approval of the shareholders and board in June, the automaker said.… Continue reading Subaru to nominate executive Atsushi Osaki as next president
Chinese local governments roll out incentives for car buyers
Multiple Chinese cities rolled out policies to boost vehicle purchases after car sales slumped at the start of this year. From Jan. 1 to Feb. 19, China’s passenger car sales fell 26% from the same period last year, according to data released Wednesday by the China Passenger Car Association (CPCA). Sales of passenger new energy… Continue reading Chinese local governments roll out incentives for car buyers
Chinese startup pushes for green logistics with hydrogen cars
BEIJING — Lingniu Hydrogen Energy Technology, a Chinese logistics tech startup that operates hydrogen fuel cell vehicles, has raised 50 million yuan ($7.3 million) in a pre-Series A funding round led by Nanhu Financial, 36Kr has learned. Founded in 2021, Lingniu offers solutions combining hydrogen fuel cell cars and energy to blue-chip companies and high-end… Continue reading Chinese startup pushes for green logistics with hydrogen cars
John Deere, Caterpillar spearhead machinery tech transformation
NEW YORK — Top U.S. agricultural and construction machinery manufacturers Deere & Co. and Caterpillar are looking to evolve into full-blown tech companies, pushing self-driving technology beyond what the passenger car industry has been able to achieve. During a quarterly earnings briefing in February, Deere & Co., which does business as John Deere, referenced the response to its presentation at the… Continue reading John Deere, Caterpillar spearhead machinery tech transformation
Renault, Geely ink deal with Saudi Aramco for engine venture
(Reuters) — Oil giant Saudi Aramco has agreed to take a minority stake in a new powertrain engine company that French carmaker Renault and China’s Geely Automobile Holdings plan to set up jointly, they said on Thursday. Reuters reported in January that Aramco has been involved in advanced discussions to take a stake of up… Continue reading Renault, Geely ink deal with Saudi Aramco for engine venture
Chinese chipmaker SiEngine raises another $72m
HONG KONG — Chinese automotive chipmaker SiEngine Technology this week said it completed a 500 million yuan ($72.5 million) Series A+ funding round in the fourth quarter of last year. The round, whose participants included Teda Venture Capital, Haier Capital, SPDB International Holdings, Wuhan S&T Investment Company and Tongxi Capital, will help boost chip output among… Continue reading Chinese chipmaker SiEngine raises another $72m
VinFast delivers EVs to U.S. drivers in first for Vietnamese maker
HO CHI MINH CITY — VinFast electric vehicles have hit the road in the U.S. for the first time, after the company, a unit of Vietnam’s Vingroup, said it made a delayed delivery to California drivers. The 45 SUVs arriving from Vietnam are a fraction of the 999 EVs that were supposed to reach Americans,… Continue reading VinFast delivers EVs to U.S. drivers in first for Vietnamese maker
Elon Musk hints at next-gen Teslas, touts more efficient factories
SAN FRANCISCO (Reuters) — Tesla will cut vehicle assembly costs by half, engineers told investors on Wednesday, outlining design and factory efficiency gains as Chief Executive Elon Musk hinted a next generation of electric cars was coming. Musk, who also described how the world could transition to a sustainable energy future of “abundance,” is expected… Continue reading Elon Musk hints at next-gen Teslas, touts more efficient factories
China weighs extending EV tax break beyond 2023
BEIJING — China will consider extending a tax break on the purchase of electric vehicles past the end of 2023, an official in charge of automobile policy said Wednesday, in a move aimed at supporting economic growth. Beijing will discuss continuing its tax exemption for “the acquisition of new energy vehicles as soon as possible,” said Xin Guobin,… Continue reading China weighs extending EV tax break beyond 2023