SINGAPORE — Global business leaders are increasingly looking to India and Southeast Asia as alternative supply chain destinations while trade relations between China and the U.S. deteriorate, a poll by PwC published Thursday shows. At the same time, these leaders will not disengage from the two major powers in the coming years, the survey, targeting… Continue reading India and ASEAN rise in supply chain priority, global survey shows
Author: Nikki News Feed
Nissan to bail out ex-affiliate cut loose under Carlos Ghosn
TOKYO — Nissan Motor will extend financial support to an auto parts manufacturer that was once part of its affiliated supplier network but struggled to recover after the carmaker spread out its supply chain, Nikkei has learned. Nissan will provide 6 billion yen ($38.6 million) to Kasai Kogyo through a placement of a special class… Continue reading Nissan to bail out ex-affiliate cut loose under Carlos Ghosn
EU tariffs on Chinese EVs could backfire, German car bosses warn
LONDON/BERLIN (Reuters) — Top executives at BMW and Volkswagen on Wednesday warned against imposing EU import duties on electric vehicles from Chinese automakers, saying it could upend the bloc’s Green Deal plan and harm automakers that import cars made in China. The European Commission, which oversees trade policy in the 27-nation European Union, launched an… Continue reading EU tariffs on Chinese EVs could backfire, German car bosses warn
Toyota to invest $13bn in EVs, AI and supply chain
TOKYO — Toyota Motor on Wednesday reported a record net profit of 4.9 trillion yen ($31.8 billion) for the financial year ended March, double that of the previous 12 months, helped by a weak yen and accelerating demand for hybrid vehicles. “We aim to increase our efforts to utilize generative artificial intelligence, including autonomous driving.… Continue reading Toyota to invest $13bn in EVs, AI and supply chain
Honda to join forces with Japan taxi companies on driverless service
TOKYO — Honda Motor will team up with taxi companies to roll out self-driving cabs in Japan, supplying vehicles and systems to existing operators in a division of labor that is unusual in the nascent industry. The automaker looks to start putting driverless taxis on Tokyo roads in 2026 in partnership with Teito Motor Transportation… Continue reading Honda to join forces with Japan taxi companies on driverless service
BYD Americas CEO says EV maker is not TikTok or Huawei
LOS ANGELES — Chinese electric vehicle maker BYD differs from TikTok and Huawei and should not be blocked from doing business in the U.S., CEO of BYD Americas Stella Li argued at the 2024 Milken Institute Global Conference. Speaking on Monday at the annual event — which draws thousands of bankers, investors, policymakers and tech… Continue reading BYD Americas CEO says EV maker is not TikTok or Huawei
Chinese EV makers bring price war to Thailand even as sales sag
BANGKOK — The rush of Chinese automakers into Thailand’s electric vehicle market is fueling a race to the bottom on prices, but heated competition in a soft market has raised alarms, prompting at least one player to turn to hybrids. At the Bangkok International Motor Show earlier this spring, Chinese EV giant BYD’s booth at… Continue reading Chinese EV makers bring price war to Thailand even as sales sag
NIKKEI Film: In search of bus drivers
With Japan on April 1 beginning to enforce strict limits on drivers’ working hours, the country is grappling with what has become known as the “2024 problem.” The situation has left bus operators with a critical shortage of drivers, forcing them to cut back service and cancel a slew of routes. In late March, a… Continue reading NIKKEI Film: In search of bus drivers
Geely’s Zeekr seeks up to $5.13bn valuation in U.S. IPO
(Reuters) — Electric-vehicle maker Zeekr Intelligent Technology Holding said on Friday it was targeting a valuation of up to $5.13 billion in its U.S. initial public offering, the first major floatation by a China-based company in more than two years. Zeekr is looking to raise up to $367.5 million by selling 17.5 million American depositary… Continue reading Geely’s Zeekr seeks up to $5.13bn valuation in U.S. IPO
U.S. delays ban on Chinese graphite for EV tax credits
WASHINGTON (Reuters) — The U.S. Treasury Department on Friday gave automakers additional flexibility on battery mineral requirements for electric vehicle tax credits on some crucial trace minerals from China, such as graphite. The department said it would give automakers until 2027 to remove some hard-to-trace minerals like graphite contained in anode materials and critical minerals contained in electrolyte salts, binders and… Continue reading U.S. delays ban on Chinese graphite for EV tax credits