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...Indian steelmaker JSW last month launched a $1.5bn tie-up with China’s SAIC Motor to build and sell EVs in India....
...Toyota Motor’s nearly 80 per cent profit increase in the latest quarter reflects that shift in the global car market....
...Honda is falling further behind in the battery EV race after scrapping a $5bn plan to develop affordable battery-powered cars with General Motors last year....
...In November, the company signed an agreement with Handal Indonesia Motor to assemble EVs in Indonesia. It is scheduled to start operations in the second quarter of this year....
...The group, which includes Daihatsu and Hino Motors, expects to sell 10.4mn vehicles in the current financial year, compared with 10.3mn vehicles in the previous year....
Makoto Uchida tells FT summit that carmaker plans to overhaul strategy as sales fall in world’s largest vehicle market
...Nissan chief executive Makoto Uchida is blunt on the need for new partners, although the company insists its alliance with Renault and Mitsubishi Motors will not be unwound....
...Tata Motors’ stock has more than doubled over the past year, far outpacing the Indian market — quite a feat for a company with a market value of more than $40bn....
...The two companies are setting up a strategic alliance to work together on AI, cloud computing and big data for EVs....
...The alliance also includes smaller partner Mitsubishi Motors....
...The company has responded to the pessimism, recently announcing a new midterm plan to boost sales and launch 30 new models, half of which will be electrified or hybrid....
...The group will maintain its long-term alliance with Renault and Mitsubishi Motors in certain markets such as Europe, south-east Asia and Latin America....
...But each of the company’s past two pay increases topped $2 an hour....
...President Yoon Suk Yeol made an election pledge two years ago to crack down on private use of company owned luxury cars....
...As newcomers to the market, they have struggled to find haulage companies to prioritise their orders....
...Chinese companies, offering tech from conveyor belts and motors to advanced manufacturing robots, are also expanding rapidly in their home country, which is the world’s largest market for the sector....
...They have since bolstered that roster from an initial 300 vehicles to about 20,000, pushing Zypp to the top of the FT-Statista ranking of high-growth companies in Asia-Pacific....
...They pushed global group sales, including subsidiaries Daihatsu Motor and Hino Motors, up 7 per cent to a record 11.2mn cars last year, the company said on Tuesday. Output grew 9 per cent to 11.5mn....
...Suzuki, India’s top-selling carmaker, plans to begin producing and exporting its first Indian-made EVs this year, the company has said....
...Nikola reiterated its support for its current board including Steve Girsky, its current CEO, a former General Motors executive who as an investor had helped Nikola list its shares....
...TIC currently owns about 7.3 per cent of Toyota Motor, while the much larger company owns 23.5 per cent of TIC, according to LSEG data....
...In a US hybrid market mainly dominated by Toyota, Honda and the South Korean duo of Kia and Hyundai, domestic manufacturers are racing to catch up.Last month General Motors, which had largely phased out...
...But as with everything Japan’s most valuable company does, it will be worth monitoring....
...German companies have been facing increasing pressure to cease operating in the region....
...into entering Thailand, the region’s second-biggest auto market, BYD holds the position as the biggest EV maker and the third-largest automaker for the overall passenger car market, according to research company...
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