Auto Business Archives — City Business News

May 24, 2022 No Responses

Toyota To Cut Global Production Plan, Deliver 9.3m Vehicles By March 2023

Toyota Motor Corporation will cut its global production plan by about 100,000 to roughly 850,000 vehicles in June due to the semiconductor shortage. Reuters report on Tuesday that the company did not change its estimate of producing about 9.7 million vehicles worldwide...

May 21, 2022 No Responses

Nissan, Mitsubishi Unveil Light Electric Vehicles

Japan’s Mitsubishi Motors Corp and Nissan Motor Co unveiled their first jointly developed light electric vehicles (EVs), aiming to draw more Japanese drivers to battery-powered cars by offering low-priced micro models. According to Reuters, the two Japan...

May 20, 2022 No Responses

Autochek Acquires Morocco’s KIFAL Auto

Autochek, the automotive technology company making car ownership more accessible and affordable across Africa, has announced the acquisition of KIFAL Auto, Morocco’s leading automotive technology startup, to drive its expansion into North Africa. &...

May 19, 2022 No Responses

Hyundai To Invest $16.5b In South Korea EV Business

Hyundai Motor Group said on Wednesday it plans to invest a total of 21 trillion won ($16.54 billion) through 2030 for the expansion of its electric vehicle (EV) business in South Korea. The South Korean auto group, which houses Hyundai...

May 18, 2022 No Responses

Hyundai Partners Tata Power On Fast Chargers

The management of Hyundai Motor India has announced a partnership with Tata Power to set up electric vehicle (EV)-charging infrastructure in India. Hyundai explained that it plans to facilitate the installation of Tata Power’s DC 60 kW fast chargers acro...

May 17, 2022 No Responses

Russia Nationalises Renault’s Moscow Plant

Renault has announced it is selling its majority stake in Russian carmaker Avtovaz, following pressure over its continued presence in the country. The French carmaker said it would sell its 68% interest to a Russian science institute, while its shares...

May 17, 2022 No Responses

VW Targets 800,000 Fully-Electric Cars This Year, 1.3m In 2023

Volkswagen is planning to build 800,000 fully electric cars worldwide this year and 1.3 million in 2023, the carmaker said, as it works towards making half its global output all-electric by 2030. It is optimistic that it will reach European...

May 12, 2022 No Responses

New Range Rover Sport Debuts

Sensational New Range Rover Sport has made its global premiere with a dramatic world-first climb up a flooded dam spillway in Iceland. New Range Rover Sport is based on Land Rover’s advanced, flexible Modular Longitudinal Architecture (MLA-Flex), which...

May 11, 2022 No Responses

Geely Acquires Stake In Renault Korea, Targets US Exports

China’s Geely Automobile will buy just over a third of Renault’s Korea unit for roughly $200 million, potentially helping it boost U.S. exports, and freeing up funds for the French automaker to invest in its electric business. Renault, wh...

May 11, 2022 No Responses

Toyota Cuts Production Due To Lockdown In Shanghai

Toyota says it will suspend operations at more production lines at its factories in Japan this month due to the coronavirus lockdown in Shanghai. The firm says the production halt will come into effect on Monday and stay in place...

May 5, 2022 No Responses

Nissan To Invest $700m In Mexico

The Japanese automaker, Nissan Motors said on Wednesday it would invest more than $700 million in Mexico during the next three years to boost its operations in the country. The investment is set to improve the facilities, equipment and automation procedures.....