Japan will give Toyota up to US$ 841 million in subsidies to invest in the domestic production of batteries in electric vehicles, Industry Minister Yasutoshi Nishimura said. Toyota laid out a plan for new technology and revamping of factories, sending a clear signal to garner a larger pie of the growing market for battery electric… Continue reading Japan to give Toyota up to US$ 841 million in subsidies for domestic production of batteries in EVs: Report
Category: US Motoring Press
Japan’s Musashi Seimitsu Industries announces E-mobility foray in India, to invest Rs 70 crore for EV venture
Musashi India, a manufacturer of two-wheeler and four-wheeler transmission components in India, has announced its foray into the E-mobility space in the Indian market. Focused on building high-performance and safe auto components, Musashi, a 100% owned subsidiary of Musashi Seimitsu Industries, Japan will manufacture the E-Axle at its Bengaluru plant starting October 2023. Musashi will… Continue reading Japan’s Musashi Seimitsu Industries announces E-mobility foray in India, to invest Rs 70 crore for EV venture
Tata Motors optimistic about FY24 CV demand despite near-term challenges
Tata Motors, the country’s largest commercial vehicle (CV) manufacturer, is optimistic about strong overall CV demand in the fiscal year 2024 (FY24) despite near-term challenges, including rising interest rates, fuel prices, and inflation. In a presentation to investors, Tata Motors said it expects the government’s continued emphasis on infrastructure development to support CV demand in… Continue reading Tata Motors optimistic about FY24 CV demand despite near-term challenges
BorgWarner expects to complete spin-off of PHINIA by July 3, 2023
BorgWarner today announced that it expects to complete the spin-off of PHINIA at the end of the day on July 3, 2023, as outlined in PHINIA’s final information statement filing with the Securities and Exchange Commission. PHINIA common stock will be traded on the New York Stock Exchange under the ticker symbol PHIN. The first… Continue reading BorgWarner expects to complete spin-off of PHINIA by July 3, 2023
Bajaj Auto, TVS and Royal Enfield record robust sales in April-May, increase market share amid wave of demand for premium products
With industry body SIAM announcing the wholesales numbers for three vehicle segments – passenger vehicles, two and three-wheelers – for the first two months of the ongoing fiscal year, one of the highlights is that of growth returning to the two-wheeler industry. Cumulative April-May 2023 numbers are 28,10,138 units, up 16.32% year on year (April-May… Continue reading Bajaj Auto, TVS and Royal Enfield record robust sales in April-May, increase market share amid wave of demand for premium products
Ashwani Gupta to step down as Nissan COO
Nissan Motor Co today announced that Ashwani Gupta, Representative Executive Officer and COO, “has elected to leave the company to pursue other opportunities effective June 27. Also, Gupta will retire from the board of directors at the end of the annual general meeting of shareholders to be held on June 27, 2023.” Serving as Nissan’s… Continue reading Ashwani Gupta to step down as Nissan COO
New £25,000 electric Citroen e-C3 to launch in October this year
Citroën will pitch itself headlong into the affordable EV market this October with a battery version of its revised C3 range, costing “below €25,000” in France and hitting the UK market at around £25,000. The ë-C3 will be part of a bigger Citroën C3 range also including ICE models. But Citroën has insisted that the EV version will become the… Continue reading New £25,000 electric Citroen e-C3 to launch in October this year
Second-gen Nio ES6 due in UK with new platform and 482bhp
Nio has launched the EL6 as a successor to the ES6, which is tipped to form part of the Chinese premium EV brand’s line-up when it comes to the UK next year. The rival to the Audi Q8 E-tron and Mercedes-Benz EQC was launched in 2019 and is the firm’s best-seller in China. The second-generation model is a comprehensive reworking, including… Continue reading Second-gen Nio ES6 due in UK with new platform and 482bhp
Nio ET5 Touring launches with 482bhp as firm’s first electric estate
Nio will also introduce battery-swap stations in the UK to allow owners to change their batteries in around five minutes, giving the brand a useful unique selling point if it can install a decent-sized network. Based on the ET5 saloon, the estate offers 64 more litres of boot space, at 450 litres with the seats up… Continue reading Nio ET5 Touring launches with 482bhp as firm’s first electric estate
GM CFO: The company has ‘shock absorbers’ in place in case of a recession
General Motors is prepared for an economic downturn, but continues to cut costs to achieve a trimmed-down norm going forward as the automaker closes the gap in profit margins between electric vehicles and those of gasoline-powered cars, CFO Paul Jacobson said Thursday. Speaking at the Deutsche Bank Global Auto Conference in New York, Jacobson touched… Continue reading GM CFO: The company has ‘shock absorbers’ in place in case of a recession