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Toyota, Nissan, and Honda Join Forces on AI and Chip Development for Next-Gen Vehicles
Toyota, Nissan, and Honda have teamed up to develop cutting-edge AI and semiconductor technologies for next-generation vehicles, focusing on areas like semiconductor chips, APIs, virtual simulation, and cybersecurity. Supported by Japan's Ministry of Economy, Trade, and Industry, this collaboration aims to enhance Japan's competitiveness in the evolving automotive industry. The initiative includes forming the Advanced SoC Research for Automotive (ASRA) group, involving 12 companies, to create high-performance system-on-chip (SoC) technologies for mass production by 2030, marking a significant advancement in software-defined vehicles (SDVs) and autonomous driving capabilities
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6.8.2023
Renesas Electronics Acquires Panthronics to Expand Connectivity Portfolio
Renesas Electronics has successfully completed its acquisition of Panthronics, a leading fabless semiconductor company specializing in high-performance wireless products. The integration of Panthronics into Renesas' Wireless Business Unit is expected to boost earnings per share in the first full year post-acquisition, solidifying Renesas' position as a premier supplier of advanced semiconductor solutions.
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6.8.2023
Boeing Boosts Production of 787 Dreamliner and Expands Facilities
Boeing has announced an increase in production for its widebody 787 Dreamliner aircraft. The company has raised production from three to four planes per month, with plans to further ramp up to five per month by the end of the year. Additionally, Boeing intends to establish a second production line in Charleston, South Carolina, to accommodate the modification of inventory 787s to meet FAA standards. Lane Ballard, Boeing's vice president and general manager for the 787 program, provided these details regarding the company's plans.
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6.8.2023
Japanese Robotics Industry Witnesses Growth in 2022, but Faces Projected Decline in Orders for 2023
According to the Japanese Robotics Association, sales of Japanese robotics saw a year-on-year increase of 9.2% in 2022, while orders grew by 3.1%. However, the association projects a decline in orders of 8.3% for 2023 due to the uncertain global macro-outlook.
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6.8.2023
Tesla Increases Discounts on Select Models in U.S. Inventory
Tesla has increased discounts on some Model 3 electric cars and offered discounts on the Model Y and other inventory vehicles in the US market. The company is adjusting prices to clear inventory and stimulate sales.
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6.8.2023
EV Sales Surge in 1Q23, Driven by Price Adjustments and Strong Performance from Tesla
The total sales of New Energy Vehicles (NEVs) in 1Q23 reached 2.656 million units, with a 28% year-on-year (Y/Y) increase. Battery Electric Vehicles (BEVs) contributed 1.942 million units, a 26% Y/Y growth, while Plug-in Hybrid Electric Vehicle (PHEV) sales amounted to 711,000 units, a 34% Y/Y increase. Tesla experienced a record-breaking first quarter with sales of 423,000 units, increasing its market share to 21.8%.
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6.8.2023
European Auto Financing Costs Rise, Leading to Higher Car Loan Rates for Consumers
European car-financing businesses are issuing more expensive debt, leading to higher car loan rates for customers. Auto companies like BMW and Mercedes-Benz sold €8.45 billion ($9 billion) in bonds, resulting in higher costs for vehicle financing and potentially impacting consumers.
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6.8.2023
China Witnesses Strong Growth in New Energy Vehicle (NEV) Sales in May
Retail sales of passenger NEVs in China for May 2023 remained flat compared to the previous month but showed an 82% Y/Y increase, totaling 483,000 units. Wholesale sales of passenger NEVs in China during the same period increased by 81% Y/Y to 550,000 units. The Chinese State Council is proposing to extend NEV car incentives for four more years to stimulate consumer demand.
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6.8.2023
China's State Council Proposes Extension of NEV Car Incentives to Boost Consumer Demand
The Chinese government is considering extending incentives for new-energy vehicles (NEVs) in order to boost consumer demand. Currently, NEVs priced below 300,000 yuan ($42,400) are exempt from a 10% purchase tax, but this incentive is set to expire at the end of 2023. The State Council has proposed extending this incentive for another four years, aiming to stimulate the adoption of NEVs in China.
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6.8.2023
Rapid Adoption of Electric Cars in the UK Presents Fiscal Challenges, Calls for "Road Duty"
British motorists are adopting electric cars faster than expected, leading to a significant gap in fuel duty revenue for the UK Treasury. To compensate for the revenue shortfall, the Resolution Foundation suggests implementing a "road duty" charged on every mile EVs drive, which could cost the public purse £10 billion per year by the end of the decade.
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6.8.2023
Ford CEO Predicts Electric Vehicles to Achieve Cost Parity Post-2030
Ford's EV Cost Parity: Ford's CEO, Jim Farley, predicts that electric vehicles will not achieve cost parity with internal combustion engine vehicles until after 2030. Farley expects cost savings to come from simplified production processes, smaller batteries, lower labor content, and increased revenue from software-driven digital services between 2030 and 2035.
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