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China won’t end EV subsidies after cuts spark sales slump

BEIJING — China looks to extend the expiring subsidies supporting the purchase of electrified vehicles as the country hopes to reverse the recent decline in sales, a senior Chinese official said Monday. Beijing had begun phasing out the subsidies for so-called new-energy vehicles, and the incentives are scheduled to conclude by the end of this… Continue reading China won’t end EV subsidies after cuts spark sales slump

Mitsui & Co. to make electric vehicle motors in India

TOKYO — Japanese trading house Mitsui & Co. will produce electric vehicle motors in India in partnership with Taiwanese motor manufacturer Teco Electric and Machinery, likely becoming the first Japanese company to make EV motors in the country. Teco is the world’s fourth-largest industrial motor maker, with annual sales of around $1.63 billion. The Taiwanese… Continue reading Mitsui & Co. to make electric vehicle motors in India

Asian stocks fall as China keeps benchmark lending rate unchanged

HONG KONG (Nikkei Markets) — Asian shares outside of Japan fell Monday after China unexpectedly left the benchmark lending rate unchanged. The Nikkei Asia300 index slid 0.3% to 1,424.40. On Monday, China maintained the monthly loan prime rate, a reference rate used for pricing floating rate loans, at 4.15%. Capital Economics had forecast that the… Continue reading Asian stocks fall as China keeps benchmark lending rate unchanged

Exclusive: Vingroup plans Thai bonds as funding options narrow

HANOI/BANGKOK — Vingroup, Vietnam’s largest company, plans to issue this year its first baht-denominated bonds, according to sources, as the sprawling conglomerate seeks to expand its loss-making cars business and has all but exhausted its funding options at home. The move to issue Thai debt may carry financial risks for Vingroup, which is in the middle… Continue reading Exclusive: Vingroup plans Thai bonds as funding options narrow

Financial heavyweights pull Hong Kong shares off highs

HONG KONG (Nikkei Markets) — Hong Kong shares headed lower on Monday, as investors appeared to pause after optimism over Sino-American trade relations lifted the city’s main equity benchmark to multi-month highs. The Hang Seng Index slipped 0.4% to 28,942.57 by noon after ending at a seven-month high on Friday. Among heavyweights, pan-Asia insurer AIA… Continue reading Financial heavyweights pull Hong Kong shares off highs

Chinese Self-Driving Startup AutoX Scores Pre-B Round

AutoX, a self-driving start-up, announced that it had completed a Pre-B round of financing worth tens of millions of U.S. dollars at the end of December. It was led by Shenzhen Qianhai Hongzhao Fund and backed by other Shenzhen-based RMB funds. This round of financing will mainly be used for the applications in the Chinese… Continue reading Chinese Self-Driving Startup AutoX Scores Pre-B Round

Tata Motors aims to have the safest car in every segments it plays in

Tata Motors, India’s fourth largest passenger vehicle maker, is still some distance away from a podium position in the market. However, it wants to take the lead position when it comes to safety, an attribute it wants to build upon as a key USP for its models as part of its turnaround plan 2.0  “We… Continue reading Tata Motors aims to have the safest car in every segments it plays in

Deloitte India study says India open to connected vehicles but data privacy a concern

Image used for representational purpose As sustainable mobility and connected vehicles mega trends take centre stage, audit and financial consulting firm, Deloitte India’s Global Automotive Consumer Study 2020 reveals that eighty percent of Indian respondents are excited about using connected vehicles and convinced of its benefits but 69 percent respondents are also worried about the… Continue reading Deloitte India study says India open to connected vehicles but data privacy a concern

CO2 output to be top priority for carmakers in 2020

This year will mark a revolution in new-car selling: for the first time, carmakers will place the CO2 output of every model in their ranges at the top of their priority list, outweighing design, performance and other traditional sales points. The EU’s 95g/km fleet average CO2 regulation – under discussion in Brussels for a decade – means… Continue reading CO2 output to be top priority for carmakers in 2020