SEOUL (Reuters) – Hyundai Motor (005380.KS) said it will suspend production in South Korea due to the coronavirus outbreak disrupting parts supply, becoming the first major automaker to do so outside of China. FILE PHOTO: A man walks past the logo of Hyundai Motor during the 2019 Seoul Motor Show in Goyang, South Korea, March… Continue reading Hyundai to halt South Korea output as virus disrupts China parts supply
Tag: Financial Results
Zac Hollis: ‘By localising the Vision In to 95%, we will be able to make it competitive.’
Skoda Auto India, which is leading the Volkswagen Group’s ‘India 2.0’ growth strategy, unveiled the Vision IN SUV concept. The midsize SUV (over 4.2 metres), slated for market launch during Q2 of 2021, will have the responsibility to be the Czech brand’s volume driver while its German cousin on the same platform, Taigun will have… Continue reading Zac Hollis: ‘By localising the Vision In to 95%, we will be able to make it competitive.’
Panasonic shares soar on profit at U.S. battery business with Tesla
TOKYO, Feb 4 (Reuters) – Shares of Panasonic Corp jumped more than 8% in early Tuesday trade after the Japanese electronics conglomerate the previous day reported its first quarterly profit at its U.S. battery venture with Tesla Inc . Tesla stock also surged on the news as well as on a bullish investor report. Shares… Continue reading Panasonic shares soar on profit at U.S. battery business with Tesla
Chinese battery giant CATL confirms supply agreement with Tesla
One of the largest battery suppliers in the world, CATL, has signed an agreement with Tesla, as reported by Reuters. The agreement lasts for two years from July 2020 to June 2022 and has no specified capacity restrictions. In last week’s Q4 results letter, Tesla stated that they plan to deliver at least 500,000 cars… Continue reading Chinese battery giant CATL confirms supply agreement with Tesla
Veoneer Completes Divestiture of Japan and China Operations of Brake System Joint Venture
STOCKHOLM, Feb. 3, 2020 /PRNewswire/ — Veoneer, Inc. (NYSE: VNE) (SSE: VNE SDB), the world’s largest pure-play company focused on Advanced Driving Assistance Systems and Automated Driving, has completed the sale of its 51% ownership in the Japanese (VNBJ) and Chinese (VNBZ) entities that comprise Veoneer Nissin Brake Systems (VNBS) to its joint venture partner Nissin-Kogyo… Continue reading Veoneer Completes Divestiture of Japan and China Operations of Brake System Joint Venture
Japan’s Nidec set to focus on electric vehicle powertrains to treble sales
Japan’s Nidec Corp plans to more than treble its revenue over the next five years by focusing on electric vehicle powertrains and buying specialists in motor technologies, two people familiar with the matter told Reuters. The world’s leading maker of precision motors which supplies parts for Apple’s iPhones is expected to detail its plans as soon as Tuesday when it will… Continue reading Japan’s Nidec set to focus on electric vehicle powertrains to treble sales
Nidec bets on e-cars, acquisitions to triple sales
TOKYO (Reuters) — Nidec Corp. plans to more than triple its revenue over the next five years by focusing on electric vehicle powertrains and buying specialists in motor technologies, two people familiar with the matter told Reuters.The world’s leading maker of precision motors which supplies …
Nidec To Expand Its Business By Focusing On EV Powertrains
The Japanese company Nidec, by the way of releasing its Q4 financial results, announced a major expansion of its business (including tripling revenues) over the coming years through focusing on electric vehicle powertrains. The idea is to use its tremendous experience in electric motors, produced for various applications including the automotive industry, which experiences now a… Continue reading Nidec To Expand Its Business By Focusing On EV Powertrains
Lack of R&D funding leaves Japan Inc. in digital age dust
TOKYO — Corporate Japan, once renowned for technological innovation, is not only lagging behind the U.S. in research and development spending but is becoming less eager to take risk and invest in untested fields. Amazon.com, Facebook, Apple, Microsoft and Google parent Alphabet alone are set to outspend all Japanese companies combined. Analyst projections compiled by QUICK-FactSet… Continue reading Lack of R&D funding leaves Japan Inc. in digital age dust
Toyota launches car rental business in China
NAGOYA, Japan — Toyota Motor has launched a car rental business for tourists in China as the local market grows due to wider use of mobile payment services. Toyota Financial Services, a Nagoya-based subsidiary of the Japanese automaker, and Toyota’s Chinese arm have set up a new company to run the business, together with local dealers.… Continue reading Toyota launches car rental business in China