A year after his arrest, Nissan ex-Chairman Carlos Ghosn is still stuck in Tokyo under stringent bail conditions and with no trial date as he seeks access to a trove of Nissan emails and other proofs to fight charges of financial misbehavior. His lawyers have asked a court to provide access to 6,000 pieces of […]
Asian
Labor officials found it responsible for worker suicide, says Toyota
Toyota Motor on Tuesday stated labor officials in Japan have found it responsible for the suicide of a worker, with the Mainichi Shimbun reporting that workplace bullying at the automaker had resulted in the worker’s death. The news comes as a declining workforce and changing values about work-life balance in Japan has meant companies are […]
California to halt purchasing GM, Toyota and Chrysler vehicles over emissions fight
California stated on Monday it will stop all purchases of new vehicles for state government fleets from General Motors, Toyota, Fiat Chrysler and other automakers supporting U.S. President Donald Trump in a fight to strip the state of authority to regulate tailpipe emissions. Between 2016 and 2018, California bought $58.6 million in vehicles from General […]
Nissan recalls almost 400,00 vehicles due to braking system defect
Nissan Motor has stated it is recalling 394,025 cars in the United States due to a braking system defect, causing issues related to a brake fluid leak that could possibly result in a fire. The leak into internal circuit boards will issue a warning to car drivers, which if ignored may result in a fire […]
China’s Auto Industry Discusses How To Increase Rural Car Sales
China’s auto industry executives met with government authorities regarding ways to promote higher car sales in rural areas, sources knowledgeable with the matter said. The country’s car manufacturers are grappling with struggling sales. Falling sales in China are making them seek new policies. Zeng Guang a senior official at the China Association of Automobile Manufacturers […]
Chinese electric automakers hit by new threat of subsidy cuts
Shares of Chinese electric-car makers dropped following a Bloomberg News report that stated regulators may slash subsidies further on the embattled industry. BYD Co., China’s biggest company of new energy vehicles, dropped 2.8% in Hong Kong. BAIC BluePark New Energy Technology, the country’s biggest company of pure electric cars, retreated 2.9% in Shanghai, while Contemporary Amperex Technology, […]
Hyundai to make Santa Cruz pickups at Alabama plant as a part of expansion strategy
Hyundai Motor is going to start making its Santa Cruz pickup trucks at its U.S. factory in 2021, with an investment of about $410 million, as it looks forward to a foothold in the popular, but highly competitive, sector led by U.S. competitors. The Alabama factory expansion was declared as President Donald Trump is expected […]
Nissan cuts profit forecast after 70% quarterly drop
Nissan Motor reported a 70% fall in quarterly profit on Tuesday and slashed its full-year forecast to an 11-year low, affected by a strong yen and falling sales, and highlighting the turmoil at the Japanese automaker after the ejection of Carlos Ghosn. The recent weak showing from Nissan, which also cut its interim dividend by […]
Rakuten sees $947 million loss from Lyft investment in recent quarter
Japan’s Rakuten Inc stated on Tuesday it expects to take a 103 billion yen ($947 million) loss in the recent quarter on its investment in U.S. ride-hailing company Lyft Inc. The e-retailer, whose billionaire founder and Chief Executive Hiroshi Mikitani has a seat on Lyft’s board, recorded the charge as Lyft shares had dropped remarkably […]
China’s auto market could decline by about 8% this year
Auto sales in China may slip to 26 million this year, a fall of around 8%, a senior industry executive cautioned, as the world’s largest auto market braces for a second year of contraction amid declining economic growth and tougher vehicle emissions standards. The recent prediction, by Fu Bingfeng, executive vice chairman of the China […]
Ghosn rejects report of inappropriate use of Nissan money
Former Nissan Motor CEO Carlos Ghosn rejected any impropriety over payments he made during his reign at the automaker, after a newspaper report that Japanese tax authorities determined he used company funds for private use. “Mr. Ghosn categorically rejects that there was anything improper about the payments or donations at issue, all of which were […]
Ghosn used Nissan money for private use says Japan tax agency
Japan’s tax authorities have found former Nissan Motor CEO Carlos Ghosn used company funds for private use, bolstering the automaker’s case that he diverted corporate funds for personal benefit, the Yomiuri reported on Tuesday. The Japanese newspaper, without mentioning sources, stated the National Tax Agency found Ghosn used Nissan money for several years to pay […]
Nissan is considering sale of European plants
Nissan Motor is thinking about selling two of its European plants as the Japanese automaker experiences falling sales in the region and an industry shift toward electric cars, according to a report by Bloomberg on Thursday. The automaker is now reaching out to possible buyers for its factories in the UK and Spain, the report […]
Hyundai targets electric vehicle sales of over half a million by 2025
South Korea’s Hyundai Motor vowed to increase sales of electric vehicles (EV) to more than half a million by 2025 as part of a bid to focus on new technologies and catch up with competitors, but some analysts observed the target as conservative and warned of the expenses. The announcement by Hyundai, the world’s fifth […]
Ghosn’s lawyers seek dismissal of charges, allege prosecutors of misconduct
Carlos Ghosn’s lawyers have asked the Tokyo District Court to drop all charges against the former Nissan Motor chairman, stating prosecutors colluded with government officials and Nissan executives to remove him from his post. Ghosn’s legal team in a press release stated they had filed two court filings ahead of a planned pre-trial meeting the […]
