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.
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.
China has greenlit a US listing by autonomous driving startup Pony.ai, raising the potential for an increase in Chinese tech initial public offerings in New York after a more than two-year hiatus.
Japan and the European Union have agreed to collaborate on a scheme to share information about battery material production locations and the supply chain. The move will help the two parties track lithium and other minerals in batteries and prevent materials from outflowing from these regions. The information sharing will also reduce Japan and the EU's dependence on battery materials produced in China.
As more EV models are available and prices decrease, EV sales have grown notably in recent years. However, the growth rate will slow in 2024, making one wonder whether the "golden cross" between EV and Internal Combustion Engine vehicle (ICE) sales will arrive on time.
Hyundai Motor has reportedly tied up with battery maker SK On in the US. Before the pair establishes a joint venture, SK On will retool a battery production line dedicated to Ford at its plant in the State of Georgia and manufacture batteries for Hyundai instead.
The international maritime logistics sector has faced multiple challenges, including the 2023 Red Sea crisis and the recent conflict between Israel and Iran. The regional tension has also alerted automotive suppliers, who are monitoring potential disruptions.
Reducing production costs has been a major task for carmakers as a price war persists in the EV market. According to Nikkei, Honda Motor is trying to produce integrated vehicle bodies with cheaper steel through collaboration with Europe-based steel maker ArcelorMittal.
Micro LED applications are expected to multiply in the coming years, especially in the automotive sector. Li Yun-Li, CEO of micro LED supplier PlayNitride, said customers will likely put the company's product into concept vehicles in 2025 and enter the design phase of volume-production cars in 2027. The adoption of micro LED solutions in EVs could progress faster than expected.
Nissan Motor said it will leverage the Giga-casting technique to produce its next-generation EVs and rapidly reduce costs. The automaker recently also invited media members to check its pilot lines for all-solid-state batteries under construction.
After securing a 27-inch OLED display sale to Hyundai Motor Group's Genesis, LG Display (LGD) also reportedly received a large-sized LCD order from a foreign luxury car brand. This LCD order represents the longest size among LGD's automotive displays and is currently in preparation, with a target to officially begin mass production in the first quarter of 2026.
China's automotive offense has pressured legacy carmakers in Europe and other markets. Gianfranco Pizzuto, an Italian automotive veteran and the former co-founder of Fisker Automotive, predicted that Chinese carmakers will lead the mainstream market for the next 10 years. The luxury segment is where European companies can stay ahead of competitors.
As the global EV market experiences a slowdown, and even market leader Tesla is forced to begin layoffs, high-end precision stamping company China Fineblanking Technology (CFTC) has not seen a reduction of orders from its EV clients, says chairman Huang I-Hsiang.
Texas Instruments (TI) is showcasing an array of new automotive technologies at this year's E-Mobility Taiwan trade show, including Battery Management Systems (BMS), radars, charging modules, Advanced Driver Assistance Systems (ADAS), and zone control design concepts.
NXP, one of the world's top five automotive chip IDMs, recently launched the S32 CoreRide open platform for software-defined vehicles (SDV). Supply chain sources said software companies that join the platform account for 70% to 80% of the global automotive firmware and middleware market, which is the product's highlight.
