TOKYO — SoftBank Group is making a push for self-driving buses in Japan, unveiling on Monday a plan to carry passengers on public roads from April. Sakai, a town on the outskirts of Tokyo, plans to begin operating vehicles on a 2.5 kilometer route, making stops at spots like banks and schools. Navya, a French… Continue reading SoftBank makes self-driving push in Japan
Author: Nikki News Feed
Hyundai shifts gears to India after stalling in China
SEOUL/MUMBAI — Hyundai Motor Group is remapping its growth strategy by expanding in India amid diminished prospects in the Chinese market. Hyundai, which is No. 2 in terms of market share in India, will leverage its competitive advantage to try to close the gap with market leader Maruti Suzuki India, and is set to increase manufacturing capacity in the country above 1 million… Continue reading Hyundai shifts gears to India after stalling in China
Asian stocks post weekly loss amid China virus outbreak
HONG KONG (Nikkei Markets) — Asian shares outside Japan edged higher on Friday, trimming their weekly loss. Investor focus remained on the China virus which has spread to Singapore and claimed more lives. The Nikkei Asia300 index of companies outside Japan rose 0.1% to 1,396.58. For the week, the index fell 2.3%. Volumes across the… Continue reading Asian stocks post weekly loss amid China virus outbreak
Spurred by trade war, Chinese investment in Thailand skyrockets
BANGKOK — The Washington-Beijing trade war has spurred Chinese investors to relocate their production bases to Southeast Asia, a trend that has particularly benefited Thailand. Chinese direct investment in Thailand jumped nearly five times to 262 billion baht ($8.6 billion) in 2019 from the previous year, according to the Board of Investment, making China the… Continue reading Spurred by trade war, Chinese investment in Thailand skyrockets
Jeep and Suzuki models found to have broken EU emissions rules
AMSTERDAM (Reuters) — Fiat Chrysler’s Jeep Grand Cherokee and Suzuki’s Vitara diesel models both break emissions rules and must be fixed or face a ban on sales across Europe, the Dutch road authority ruled on Thursday. The RDW authority, acting as the reference regulator for the European Union, said Jeep had developed a software fix… Continue reading Jeep and Suzuki models found to have broken EU emissions rules
Wuhan lockdown spurs corporate Japan’s contingency response
TOKYO — For the first time in almost two decades, Tencent Holdings founder Pony Ma will not directly hand out traditional red envelopes of cash to employees to celebrate the Lunar New Year. Such are the precautions being taken in China, even in Tencent’s home base of Shenzhen, some 1,100 km away from Wuhan, the epicenter… Continue reading Wuhan lockdown spurs corporate Japan’s contingency response
China’s AutoX raises ‘tens of millions’ of dollars in fundraising
BEIJING — AutoX, a Chinese startup that develops autonomous vehicles, said Monday it had completed its Series pre-B financing round, taking in “tens of millions” of dollars, local tech media 36Kr reported. Shenzhen-based Hongzhao Fund led the round, which concluded at the end of 2019, while Chaoshan Capital and Shenzhen IMT Industry Group also participated.… Continue reading China’s AutoX raises ‘tens of millions’ of dollars in fundraising
China’s startup funding slump hits early-stage businesses
SHANGHAI/TOKYO — Chinese startups are facing an increasingly tough financing landscape after data showed a slide in the amount raised last year as investors shift to backing companies with track records. Chinese startups raised 774.1 billion yuan ($112 billion) in 2019, down nearly 36% from a year ago, according to Jingdata, a unit of an… Continue reading China’s startup funding slump hits early-stage businesses
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