Toyota warns annual profit to skid 20% on materials
Toyota Motor Corp warned that operating earnings this year could slump by a fifth due to unprecedented increases in materials and logistics costs, on the back of a 33% slide in fourth-quarter profit, sending its shares down more than 5%. Toyota said that it expects materials costs to more than double to 1.45 trillion yen ($11.1…
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Nissan unveils $18 BLN electrification push
Nissan Motor Co had announced that it will spend 2 trillion yen over five years. This is for accelerating the vehicle electrification to catch up with competitors. This is the first time Japan’s No.3 automaker, one of the world’s first mass-market electric vehicle (EV) makers with its Leaf model more than a decade ago, is…
Good luck in charging the car-Electric Avenue
European and U.S. cities planning to phase out combustion engines over the next 15. For this, they need to plug a charging gap for millions of residents who park their cars on the street. For while electric vehicle (EVs) sales are soaring in Europe and the United States, a lag in installing charging infrastructure is…
Self-driving startup Weride deepens ties with Nissan, raises $310 MLN
WeRide is a China-based autonomous driving startup. They said that it would deepen development with Nissan Motor on autonomous driving technology for the China market, as it raised $310 million. Founder of WeRide Tony Han, is pursuing what is known in the auto industry as a level 4 autonomous standard, in which the vehicle can handle…