Smart wearable and GPS giant Garmin has decided to expand its production into Southeast Asia as part of its long-term strategy for the next 10-20 years, with initial production lines in Thailand to focus on automotive navigation OEM products.
Elon Musk's quick visit to China paid immediate dividends, with Tesla Inc. clearing two key hurdles to introduce its driver-assistance system to the world's biggest auto market.
After getting a jump on competitors in the latest round of China's electric-vehicle price war, BYD Co. now faces a key test of proving that it can withstand the impact on profits.
Japan-based electric motor manufacturer Nidec is reducing its products for the Chinese EV sector and planning to increase its sales of electric motors for industrial machinery in the US. Both measures aim to improve Nidec's profit. Its net income will likely hit JPY165 billion (US$1.06 billion) in fiscal 2024, which ends in March 2025.
The Chinese car market has gained worldwide traction because of EVs. Homegrown automakers seize the opportunity to scale inside and outside China. The country has put many resources and effort into the EV sector, drawing criticism and doubts.
Japan-based semiconductor company Renesas released its financial results for the first quarter of 2024 on April 25. The company experienced a limited profit decline and expected the weaker performance to continue in the second quarter.
Horizon Robotics has showcased its next-generation automotive processor, the Journey 6 series, which will power BYD's forthcoming New Energy Vehicles (NEV).
Supreme Electronics, an IC distributor specializing in memory chips, is targeting the Indian and Southeast Asian markets for electric scooter demand opportunities.
Innolux and AUO stated that the panel industry has bottomed out in the first quarter of 2024 and they are projecting double-digit revenue growth from their automotive applications.
In 2023, South Korea saw the first decline in rechargeable battery exports in eight years. The industry suspected that the situation is related to major battery manufacturers like LG Energy Solution, Samsung SDI and SK On moving most of their production overseas.
Tesla Inc. Chief Executive Officer Elon Musk couldn't have been more clear in his message to investors: Tesla is now an artificial intelligence company.
