How Toyota accelerated past the electric car slowdown
10 months, 1 week ago

How Toyota accelerated past the electric car slowdown

The Telegraph  

Speaking to Toyota employees last month, Akio Toyoda sounded slightly bruised. The chairman of the world’s biggest car maker described how he had been “beaten up” by critics for refusing to bet all his company’s chips on electric vehicles. The decision has infuriated climate activists who once praised Toyota for its eco-friendly Prius hatchback, while even industry insiders have wondered whether the company is making a strategic blunder. The total included a combined 3.5 million hybrids and plug-in hybrids – a year-on-year increase of 32pc – but only 104,000 EVs. Yoichi Miyazaki, executive vice president at Toyota, said hybrids were even selling strongly in China – the world’s biggest market and producer of EVs.

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History of this topic

Nissan, Honda announce merger, creating world’s third-largest carmaker
18 hours, 11 minutes ago

Nissan, Honda announce merger, creating world’s third-largest carmaker

Al Jazeera  

Plans, which include Mitsubishi, announced as Japan tries to gain foothold in electric vehicle market. Japan’s Honda and Nissan are planning a merger, which would create the world’s third-largest carmaker as the industry pivots away from fossil fuels. Honda, currently Japan’s second-largest carmaker, is widely viewed as the only national partner able to rescue Nissan, which has struggled since former …

Honda-Nissan merger: EV boom cutting off auto giants' vroom?
3 days, 18 hours ago

Honda-Nissan merger: EV boom cutting off auto giants' vroom?

India Today  

Two of the world’s giant carmakers, Nissan and Honda, are taking steps towards a merger. While Honda’s net profit slumped by 19.7 per cent, Nissan’s fell drastically by 93.5 per cent. Rise of EVs “Electric car sales keep rising and could reach around 17 million in 2024, accounting for more than one in five cars sold worldwide," the Global EV …

Not only Volkswagen and Nissan, automakers world over are struggling after a rewarding pandemic
1 week ago

Not only Volkswagen and Nissan, automakers world over are struggling after a rewarding pandemic

Firstpost  

A few years ago, automakers were celebrating record profits as the pandemic caused new car shortages, allowing them to raise prices. Now, the industry is facing a harsh reality, according to a report A few years ago, automakers were celebrating record profits as the pandemic caused new car shortages, allowing them to raise prices. Competition from China is “starting to …

BYD to outsell Ford, Honda, beat 2024 sales goals heartily as Tesla continues to struggle in China
2 weeks ago

BYD to outsell Ford, Honda, beat 2024 sales goals heartily as Tesla continues to struggle in China

Firstpost  

By the end of November, BYD had already delivered 3.76 million vehicles, including over 500,000 units in November alone, putting it on track to surpass its 4 million sales goal for the year The robust performance in China—where over 90 per cent of BYD’s sales occur—places the company ahead of Honda and Ford in global rankings for 2024. Image Credit: …

Nation poised to hold more than half of global EV fleet by 2025
3 weeks, 3 days ago

Nation poised to hold more than half of global EV fleet by 2025

China Daily  

By Liu Yukun | China Daily | Updated: 2024-11-29 08:59 Potential car buyers check out an NEV in Xiangyang, Hubei province. YANG DONG/FOR CHINA DAILY International consulting firm Gartner recently forecast that global electric vehicle ownership would rise significantly to hit 85 million by 2025, with China accounting for over half of the global EV fleet. Experts highlight that as …

Chinese EV maker BYD’s revenue beats Tesla for first time
1 month, 3 weeks ago

Chinese EV maker BYD’s revenue beats Tesla for first time

CNN  

Beijing — Chinese electric vehicle maker BYD posted an 11.5% rise in third-quarter net profit on Wednesday as it maintained strong sales momentum helped by government trade-in incentives. With third-quarter revenue up 24% on year to 201.1 billion yuan, BYD’s quarterly revenue for the first time outpaced Tesla, whose revenue for the July-September quarter reached $25.2 billion. BYD, whose cars …

Chinese EV giant BYD posts 24.4% rise in profit
3 months, 3 weeks ago

Chinese EV giant BYD posts 24.4% rise in profit

Hindustan Times  

Leading Chinese automaker BYD posted on Wednesday a 24.4 percent rise in net profit for the first half of 2024, boosted by continuing strong demand for electric cars in its home and overseas markets. Chinese EV giant BYD posts 24.4% rise in profit The company posted a net profit of $1.91 billion in the January-June period, up from $1.54 billion …

Toyota reports record quarterly profit, boosted by a weak yen and despite a certification scandal
4 months, 3 weeks ago

Toyota reports record quarterly profit, boosted by a weak yen and despite a certification scandal

Associated Press  

TOKYO — Toyota reported Thursday that its April-June profit rose 1.7%, boosted by a favorable exchange rate, as vehicle sales grew around the world despite a certification scandal that halted production in Japan for several months. Fiscal first quarter profit at Japan’s top automaker rose to 1.33 trillion yen, a record profit for that period, from 1.31 trillion yen the …

China's new-energy sector draws interest of global investors
6 months, 4 weeks ago

China's new-energy sector draws interest of global investors

China Daily  

Tesla showcases its charging piles and electric vehicles at the 2023 Consumer Technology and Innovation Show on May 30 in Shanghai. Experts said China's fast-growing green technologies and its thriving new-energy market have heightened the country's magnetism for foreign investors, particularly auto firms keen on turbocharging the electrification trend. "The influx of investments by international carmakers has shed light on …

Japanese automaker Honda revs up on EVs, aiming for lucrative US, China markets
7 months, 1 week ago

Japanese automaker Honda revs up on EVs, aiming for lucrative US, China markets

Associated Press  

TOKYO — Japanese automaker Honda reaffirmed its commitment to electric vehicles Thursday, saying it will invest 10 trillion yen through fiscal 2031 to deliver EV models around the world, including the U.S. and China. The so-called “0 Series,” a key part of Honda’s EV strategy, will be a totally new EV series created from “zero,” Chief Executive Toshihiro Mibe told …

Japanese automaker Honda reports booming profit on sales growth, weak yen
7 months, 1 week ago

Japanese automaker Honda reports booming profit on sales growth, weak yen

Associated Press  

TOKYO — Honda’s profit for the fiscal year through March jumped 70% as vehicle sales grew and a weak yen buoyed overseas earnings, the Japanese automaker reported Friday. Annual profit at Tokyo-based Honda Motor Co. totaled 1.1 trillion yen as sales surged nearly 21% to 20.4 billion yen. The maker of the Accord sedan and CR Electric Proto motorcycles was …

Japanese automaker Nissan reports 92% jump in profit as sales surge
7 months, 2 weeks ago

Japanese automaker Nissan reports 92% jump in profit as sales surge

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Nissan’s profit for the fiscal …

Japanese automaker Nissan reports 92% jump in profit as sales surge
7 months, 2 weeks ago

Japanese automaker Nissan reports 92% jump in profit as sales surge

Associated Press  

TOKYO — Nissan’s profit for the fiscal year through March jumped 92% to 426.6 billion yen as sales grew in all major global markets except China, the Japanese automaker said Thursday. Chief Executive Makoto Uchida said Nissan was aiming for further growth under a strategy called “The Arc,” kicking in from last month, focusing on electric vehicles to boost sales. …

Toyota racks up booming profit, vows to invest to keep growth going
7 months, 2 weeks ago

Toyota racks up booming profit, vows to invest to keep growth going

Associated Press  

TOKYO — Toyota doubled its net profit in the fiscal year that ended in March, as strong vehicles sales and a favorable exchange rate lifted results for Japan’s top automaker. Toyota Motor Corp.'s annual profit totaled 4.9 trillion yen, up from 2.45 trillion yen the year before, while its sales jumped 21% to 45 trillion yen, the company said Wednesday. …

Japan’s Toyota posts record 4.9tn yen profit driven by hybrid demand
7 months, 2 weeks ago

Japan’s Toyota posts record 4.9tn yen profit driven by hybrid demand

Al Jazeera  

Japanese car giant says net profit reached 4.94 trillion yen in the year to March. Toyota has reported record profit and sales figures on the back of the weak yen and strong demand for hybrid vehicles. The Japanese car giant said on Wednesday that it netted a record profit of 4.94 trillion yen in the year to March on revenues …

Crisis or opportunity: traditional automakers in EV race
7 months, 3 weeks ago

Crisis or opportunity: traditional automakers in EV race

China Daily  

A BYD vehicle on display during an expo in Paris, France. Delving into the changing global auto industry landscape, the article analyzes the challenges facing established automakers like Toyota and the advantages of emerging players, and provides insights into the future development of the industry. Toyota, the reigning champion of gasoline vehicles, has actively downplayed EVs and even hindered the …

Crisis or opportunity: traditional automakers in EV race
7 months, 3 weeks ago

Crisis or opportunity: traditional automakers in EV race

China Daily  

A BYD vehicle on display during an expo in Paris, France. Delving into the changing global auto industry landscape, the article analyzes the challenges facing established automakers like Toyota and the advantages of emerging players, and provides insights into the future development of the industry. Toyota, the reigning champion of gasoline vehicles, has actively downplayed EVs and even hindered the …

Competition-fueled Chinese EV boom to benefit world market, speed up decarbonization
7 months, 3 weeks ago

Competition-fueled Chinese EV boom to benefit world market, speed up decarbonization

China Daily  

Xiaomi CEO Lei Jun speaks during a news conference at the 2024 Beijing International Automotive Exhibition in Beijing, on April 25. Price cuts across various brands after Xiaomi's launch, from the Huawei Aito M7 to the 2024 Xpeng G9, demonstrate the dynamic nature of China's EV market. However, the fierce competition in China's new energy vehicle market, including price wars …

How Beijing buried Western industry under a wave of cheap electric cars
7 months, 4 weeks ago

How Beijing buried Western industry under a wave of cheap electric cars

The Telegraph  

China’s EV industry is benefiting from low labour costs, economies of scale from a large home market and a command economy that made battery and EV production a focus of China’s five-year plan introduced in 2021. BYD, which last year briefly eclipsed Tesla as the world’s biggest EV maker, plans to start production in Thailand this year with an annual …

China continues to drive global EV expansion
7 months, 4 weeks ago

China continues to drive global EV expansion

China Daily  

The BYD EV Dolphin Mini is displayed as the Chinese electric-vehicle producer announces the launch of the low-cost EV in Mexico City, Mexico on Feb 28. Newly published figures in the International Energy Agency's annual Global Electric Vehicle Outlook show that in the first quarter of 2024, sales grew by around 25 percent compared to the same period last year, …

Global car brands need to catch up, says expert
7 months, 4 weeks ago

Global car brands need to catch up, says expert

China Daily  

Xu Changming, an expert at the State Information Center, gives a speech at the seminar organized by Auto Star Works on April 23, 2024. International carmakers need to make "major changes" to stay competitive in China, the world's largest vehicle market, said Xu Changming, an expert at the State Information Center. Also, the State Information Center's survey show that those …

IEA says global EV demand 'motoring along' as sales tipped to be one-in-five in 2024
8 months ago

IEA says global EV demand 'motoring along' as sales tipped to be one-in-five in 2024

ABC  

In short: The International Energy Agency predicts EV uptake could surge in 2024 to about one-in-five new car sales. The International Energy Agency predicts EV uptake could surge in 2024 to about one-in-five new car sales. By comparison, the IEA said the share of new car sales that were forecast to be electric in Europe and the US was 25 …

China's Xiaomi to enter cut-throat EV market for the first time
8 months, 3 weeks ago

China's Xiaomi to enter cut-throat EV market for the first time

New Indian Express  

BEIJING: Chinese consumer tech giant Xiaomi will launch its first-ever EV at a press conference in Beijing Thursday, injecting itself into a fiercely competitive sector in the world's largest car market. China's EV sector has grown rapidly in recent years -- propelled by purchasing subsidies that were discontinued in late 2022 -- and dozens of domestic automakers are engaged in …

Nissan to export China-made vehicles from 2025
8 months, 3 weeks ago

Nissan to export China-made vehicles from 2025

China Daily  

Nissan's electric Arizon concept makes its global debut at the Shanghai auto show on April 18, 2023. The carmaker also plans to refresh 73 percent of Nissan-brand models and launch eight new energy vehicles, including four Nissan-branded models, by fiscal year 2026 in China, its second-largest market. Globally, Nissan aims to lift its annual sales by 1 million units and …

Japan’s Nissan promises an aggressive electrification push to cut costs and boost global sales
8 months, 4 weeks ago

Japan’s Nissan promises an aggressive electrification push to cut costs and boost global sales

Associated Press  

TOKYO — Nissan will expand its electric vehicle lineup, develop more powerful batteries and cut production costs, while speeding up the whole process, in what the Japanese automaker’s chief called “The Arc” pathway to higher sales by 2030. Last year, Nissan Motor Co. sold nearly 3.4 million vehicles around the world, up about 5% from the previous year. Nissan plans …

Fierce rivals Honda and Nissan join forces to take on Chinese car makers
9 months ago

Fierce rivals Honda and Nissan join forces to take on Chinese car makers

ABC  

In short: Honda and Nissan have signed a new alliance to work together on EV technology. Rival Japanese car makers Honda and Nissan have announced they will work together to develop electric vehicle technology and auto intelligence – two sectors where Japan's automakers have fallen behind. Honda president Toshihiro Mibe said the companies shared common values and could create "synergies" …

How the EV Transition Is Reshaping the Global Auto Industry
9 months, 3 weeks ago

How the EV Transition Is Reshaping the Global Auto Industry

Bloomberg  

The biggest transformation of the auto industry in a century is underway, as governments offer massive subsidies to speed up the shift to electric vehicles. This combination could mean big losses for Western automakers and endanger ambitious goals for reducing the greenhouse gas emissions that come from road transportation. Chinese companies have succeeded in taking domestic market share from former …

Detroit may be making the same mistake on EVs that it made with Japane
10 months ago

Detroit may be making the same mistake on EVs that it made with Japane

Live Mint  

Once upon a time, Japanese cars were seen as exotic vehicles that could never take on the might of Ford and General Motors. “Corolla, New Economy Car, Is Shown Here by Toyota," the New York Times yawned in a 1968 headline, introducing history’s best-selling automobile to the US market. With designers focused on large, powerful gas-guzzlers that earned better margins …

Tesla loses over $82 billion, stock plunges 12% in a single day after ‘disastrous’ earnings call
10 months, 3 weeks ago

Tesla loses over $82 billion, stock plunges 12% in a single day after ‘disastrous’ earnings call

Firstpost  

The stock value of Tesla saw a significant dip of just over 12% on Thursday following remarks by CEO Elon Musk highlighting the challenges posed by Chinese electric-car manufacturers, whom he referred to as “the most competitive car companies in the world.” During Tesla’s earnings call on Wednesday, Musk praised Chinese carmakers such as BYD, Geely, and SAIC, emphasizing their …

China expects automobile industry to remain in top gear
11 months ago

China expects automobile industry to remain in top gear

China Daily  

A row of new energy vehicles await shipment from Ganzhou, Jiangxi province, via a rail-sea intermodal transport service, to Rotterdam Port, the Netherlands in September. HU JIANGTAO/FOR CHINA DAILY China is optimistic about the growth momentum of the automobile industry this year and sees its new energy vehicle sales growing 20 percent year-on-year in 2024, said the country's top industry …

EVs fuel BMW's lead in China
11 months, 1 week ago

EVs fuel BMW's lead in China

China Daily  

The 5 millionth vehicle of BMW Brilliance Automotive Ltd is seen in Tiexi district of Shenyang, Northeast China's Liaoning province, in February 2023. The BMW Group sold 824,932 BMW and MINI vehicles in China last year, up 4.2 percent year-on-year, said the German premium carmaker on Tuesday. "New competitors, products and technologies created an intensely competitive Chinese automotive market in …

'EVs are £700 a year cheaper to keep on the road than petrol cars', green think tank says
11 months, 2 weeks ago

'EVs are £700 a year cheaper to keep on the road than petrol cars', green think tank says

Daily Mail  

Owning an electric vehicle instead of a petrol car could save drivers around £10,000 over a decade and a half, according to a green think tank. Switching to electric could save owners up to £700 a year compared to driving a petrol car, a green think tank has estimated: Pictured, an electric Hyundai Ioniq5 While the upfront cost of new …

’Raise ambition’: Amitabh Kant tells Indian carmakers as China leads EVs market
11 months, 3 weeks ago

’Raise ambition’: Amitabh Kant tells Indian carmakers as China leads EVs market

Live Mint  

Amid the fierce competition in the auto industry around the world with the advent electric cars, former NITI Aayog CEO has shared a piece of advice for Indian car companies. Amitabh Kant has appealed to Indian carmakers to raise their ambition as by the end of the decade, the world will witness a big boom in electric cars. Sharing a …

More US auto buyers are turning to hybrids as sales of electric vehicles slow
1 year ago

More US auto buyers are turning to hybrids as sales of electric vehicles slow

Associated Press  

DETROIT — America’s automakers have staked their futures on the notion that electric vehicles will dominate sales in the coming years, spurred by buyers determined to reduce carbon emissions and save on fuel. “I think the hybrid gives them what they’re most looking for.” A LOWER PRICE EV prices have being dropping, mainly a consequence of federal tax credits and …

Nissan will invest $1.4 billion to make EV versions of its best-selling cars at its UK factory
1 year ago

Nissan will invest $1.4 billion to make EV versions of its best-selling cars at its UK factory

Associated Press  

LONDON — Nissan will invest $1.4 billion to update its factory in northeast England to make electric versions of its two best-selling cars, a boost for the British government as it tries to revive the country’s ailing economy. “Nissan’s investment is a massive vote of confidence in the U.K.’s automotive industry,” which contributes 71 billion pounds a year to the …

Tesla in Troubled Waters: Elon Musk’s EV company is struggling to sell its cars in China
1 year, 2 months ago

Tesla in Troubled Waters: Elon Musk’s EV company is struggling to sell its cars in China

Firstpost  

Elon Musk’s Tesla is struggling in China, the world’s largest EV market despite starting a price war that tried to undercut other local players. In September, the Beijing-headquartered premium EV maker delivered 36,060 vehicles, marking a 3.3 per cent increase from the previous month and an impressive 212.7 per cent year-on-year growth. During the third quarter, Li Auto shipped 105,108 …

China’s automakers take the world by storm with electric vehicle push
1 year, 3 months ago

China’s automakers take the world by storm with electric vehicle push

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Chinese companies exported nearly 350,000 EVs to nine European countries in the first half of the year, more than they exported in all of 2022, according to data from the China Passenger Car …

China’s automakers take the world by storm with electric vehicle push
1 year, 3 months ago

China’s automakers take the world by storm with electric vehicle push

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Chinese companies exported nearly 350,000 EVs to nine European countries in the first half of the year, more than they exported in all of 2022, according to data from the China Passenger Car …

1 in Every 7 Cars Sold Now an EV, China's BYD Leaves Behind Tesla
1 year, 6 months ago

1 in Every 7 Cars Sold Now an EV, China's BYD Leaves Behind Tesla

News 18  

One in every 7 cars sold during the first quarter this year was an electric vehicle, dominated by China’s BYD at 21.1 percent market share while Tesla was at second spot, with 16 percent share, a report showed on Wednesday. “Tesla slashed prices for its models globally in January, following which other automotive brands announced similar cuts for their car …

Toyota Accelerates EV Revamp With Extra $7 Billion Investment
1 year, 7 months ago

Toyota Accelerates EV Revamp With Extra $7 Billion Investment

Live Mint  

TOKYO—Toyota’s new management, looking to make up lost ground in electric vehicles, said it would add billions of dollars in spending to reach EV targets. Toyota said Wednesday it would invest an additional ¥1 trillion, equivalent to $7.4 billion, in EVs through 2030, bringing Toyota’s total planned outlays for the period to around $37 billion. The automaker estimates it will …

Toyota’s profits rise as global chips supply crunch subsides
1 year, 7 months ago

Toyota’s profits rise as global chips supply crunch subsides

Associated Press  

TOKYO — Toyota’s January-March profit edged up 3% from the previous year on robust sales as a chips supply crunch gradually eased. The automaker’s sales for the fiscal year that ended in March rose across global regions, including Japan, the United States, Europe and other markets, such as Asia, the Middle East and South America. Toyota, based in Aichi prefecture’s …

Toyota’s new president vows to step up electric vehicle push
1 year, 8 months ago

Toyota’s new president vows to step up electric vehicle push

Associated Press  

TOKYO — Toyota’s new president Koji Sato has promised what he called an aggressive shift on “electrification,” while acknowledging criticism that Japan’s top automaker has fallen behind in actual volumes of electric vehicles sold compared to its rivals. “We like to see that as people cheering Toyota on,” to play catchup in electric cars, Sato told reporters Friday at Toyota …

How Japan is losing the global electric-vehicle race
1 year, 8 months ago

How Japan is losing the global electric-vehicle race

Hindustan Times  

The green floors of JATCO’s Fuji Area 2 factory hum with quiet confidence. “Our company will have to change drastically.” So far, Japan and its carmakers are lagging in the race towards eVs, the industry’s fastest-growing product area. Abe Shinzo, Japan’s prime minister from 2012 to 2020, championed policies to make Japan a “hydrogen society”; in 2015, Toyota delivered its …

Tesla delivers 88,869 China-made EVs in March: Report
1 year, 8 months ago

Tesla delivers 88,869 China-made EVs in March: Report

Hindustan Times  

Tesla sold 88,869 units of China-made electric vehicles in March for both domestic sales and exports, up 35.0% from a year ago, data published by the China Passenger Car Association showed on Tuesday. By comparison, BYD sold 206,089 units last month with its Dynasty and Ocean series of EVs and hybrids, up 97.5% from a year ago, CPCA data showed. …

How Japanese electric car makers took wrong turns while China plotted to rule the roads
1 year, 9 months ago

How Japanese electric car makers took wrong turns while China plotted to rule the roads

The Telegraph  

But at the same time, Chinese production held steady at 21m from 2019 to 2021, according to the latest figures gathered by the International Organization of Motor Vehicle Manufacturers. And no Japanese car maker is in the top-20 electric car makers, a list topped by Tesla, relative newcomer BYD, which is Chinese, and Volkswagen, according to Bloomberg data. Former Nissan …

Chinese EV brand Zeekr beats Xpeng's market value after raising $750 million in fresh funding
1 year, 10 months ago

Chinese EV brand Zeekr beats Xpeng's market value after raising $750 million in fresh funding

Firstpost  

After raising hundreds of millions of dollars from new and existing investors in a fresh funding round, the Chinese electric vehicle brand Zeekr has surpassed the market value of its rival Xpeng. According to a press release issued on Monday, 13 January 2023, by Geely Holding Group, which backs Zeekr, the company has raised approximately $750 million. The release also …

Nissan, Renault to pump in $600 million to make 6 new models in India
1 year, 10 months ago

Nissan, Renault to pump in $600 million to make 6 new models in India

Hindustan Times  

Nissan Motor Co and Renault SA said on Monday they would invest $600 million to make six new models in India, one of three markets in which the two automakers plan to coordinate closely in a revamped alliance announced last week. The move will help address falling market shares for the Japanese and French companies in a market with rising …

Toyota needs its new chief to tell an electrifying brand story
1 year, 10 months ago

Toyota needs its new chief to tell an electrifying brand story

Live Mint  

The CEO of the world’s biggest car company is stepping aside, after steering the firm through supply-chain crises brought on by natural disasters and a pandemic over his more than decade-long reign. Under Akio Toyoda’s leadership, Toyota Motor Corp never quite took the electric path head-on like its peers and refrained from touting EVs as the future. When Toyoda laid …

Elon Musk: Tesla’s main competition will come from China
1 year, 10 months ago

Elon Musk: Tesla’s main competition will come from China

Live Mint  

On a conference call with analysts following the release of Tesla's quarterly earnings, CEO Elon Musk predicted that the electric vehicle manufacturer’s largest rival will be a Chinese firm. Even though manufacturing was hampered by China's now-abandoned Covid-Zero legislation, Tesla nonetheless produced more than 710,000 electric vehicles there in 2022, accounting for nearly 52% of its global output. Due to …

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