Dentsu Group Inc and Toyota Motor have agreed to establish a business alliance and form two companies to enhance Toyota’s communications and digital transformation strategy, Dentsu said on Wednesday. Dentsu is an advertising agency founded in 1901 in Japan. Both the companies are going to operate under a holding company, of which Toyota will own […]
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Former Nissan executive Kelly pleads not guilty to helping Ghosn
Former Nissan executive Greg Kelly on Tuesday pleaded not guilty to charges he helped former Nissan’s boss Carlos Ghosn under-report income as his trial started in Tokyo, Japan. “I deny the allegations. I was not involved in a criminal conspiracy,” Kelly said in the court, according to a court pool report. A spokesperson from Nissan, […]
Toyota Motors no longer planning expansion in India, due to high tax regime
Toyota Motor won’t expand any more in India due to the country’s high tax regime, a blow for Prime Minister Narendra Modi, as India continues to attract global companies to offset the economic downfall caused by the coronavirus crisis. The government keeps taxes on cars and motorbikes high enough that companies find it hard to build […]
Nissan Motor to issue $8 billion in dollar-denominated debt
Japanese Nissan Motor will issue $8 billion in dollar-denominated debt and is thinking about euro-denominated bonds, it said on Friday, as the troubled automaker looks to diversify its funding. The bond sale is its first dollar-denominated issuance since its tie-up with French automaker Renault SA in 1999, a Nissan spokesperson said. It comes as investors have […]
Toyota’s research arm to create $800 million investment fund
Toyota Motor’s research arm said on Thursday that it would form an $800 million global investment fund. The fund called Woven Capital is to invest in companies related to the autonomous mobility and smart cities, Toyota Research Institute-Advanced Development said. Previously this year, the Japanese automaker revealed a plan to build a prototype “city of […]
Renault to develop, build next-generation Nissan Micra
French automaker Renault will develop and assemble the next generation of partner Nissan’s Micra models, a senior executive at the Japanese automaker said, as the two companies try to rework their alliance with tighter cooperation in production. Ashwani Gupta, Nissan’s chief operating officer, said in an interview with France’s Le Monde newspaper published on Monday […]
Japanese government exposed to 40 percent of $6.7 billion Nissan loans
The Japanese government has guaranteed most of a loan to Japanese automaker Nissan Motor from the Development Bank of Japan (DBJ), a source said, taking its guarantee to over 40% of 713 billion yen ($6.7 billion) in finance for Japan’s second-largest automaker. The hefty government guarantee suggests financial firms are cautious with regards to help […]
General Motors and Honda to jointly develop vehicles in North America
General Motors and Honda Motor on Thursday revealed plans to team up in North America to make a series of vehicles, deepening their ties as the auto industry comes under more pressure to share technology and costs to meet demands for cleaner automobiles. Under the alliance, both automakers said, they intend to share common vehicle […]
Ghosn’s accused escape plotters can be extradited to Japan, judge says
A U.S. judge on Friday ruled two Massachusetts men can be extradited to Japan to face charges that they helped former Nissan Motor Chairman Carlos Ghosn flee from the country while he was awaiting trial on financial misconduct. U.S. Magistrate Judge Donald Cabell in Boston turned down the arguments against extradition by U.S. Army Special […]
Nissan sales in China slow in August while Toyota, Honda surge
Japanese automaker Nissan Motor informed on Thursday its sales in China dropped 2.4% in August from a year ago, while rival Toyota Motor and Honda Motor sales increased in the world’s biggest auto market. Nissan is determined to increase sales in China as it is having a hard time to fix problems that emerged after […]
Nissan develops techniques to accelerate production of carbon fibre parts
Nissan Motor said on Thursday it has developed techniques that help accelerate production of automotive components made from carbon fibre reinforced plastics (CFRP). The techniques can slash the lead time to develop such parts by as much as half, and cycle time for molding by about 80%, compared with standard methods, the Japanese automaker said. […]
Toyota U.S. August sales dropped 23% as coronavirus weighs on inventory
Toyota Motor on Tuesday reported a 23% decline in U.S. new vehicle sales in August against the same month in 2019, as a two-month industrywide shutdown of auto production in the spring to stop the spread of COVID-19, along with uncertain economic recovery, weighed on sales. This was Toyota’s fifth straight month of U.S. sales […]
Geely and General Motors venture eyes on China’s pickup truck competition
Zhejiang Geely Holding Group together with General Motors Chinese venture are preparing to launch its first pickup truck models, intensifying competition in a segment dominated by Great Wall Motor. Geely revealed its first pickup truck model last week at a company event publicized on social media, while formal documents showed a joint venture of automakers […]
Mitsubishi’s former chairman Osamu Masuko dies at 71
Mitsubishi Motors’ former chairman Osamu Masuko has died from heart failure, the Japanese automaker stated on Monday. Masuko was born on 19 February 1949 in Tokyo, Japan. He was 71 years old. Masuko, a veteran of the Mitsubishi conglomerate, had resigned as chairman 2 weeks ago due to health reasons. He became the automaker’s president […]
Judge skeptic about accused, who helped in Ghosn escape, in extradition fight
A U.S. judge on Friday expressed doubt about arguments by two Massachusetts men seeking to prevent extradition to Japan to face charges they helped former Nissan Motor CEO Carlos Ghosn escape the country. U.S. Army Special Forces veteran Michael Taylor and his son, Peter Taylor, were arrested in May following Japan’s request, after being accused […]
