hyundai

 
 

Toyota unveils revamp hydrogen sedan to take on Tesla

TOKYO: Toyota Motor Corp unveiled a completely redesigned hydrogen-powered fuel cell sedan on Friday in its latest attempt to revive demand for the niche technology that it hopes will become mainstream.

Japan’s biggest automaker has been developing fuel-cell vehicles for more than two decades, but the technology has been eclipsed by the rapid rise of rival battery-powered electric vehicles promoted by the likes of Tesla Inc.

Ahead of the Tokyo Motor Show starting on Oct. 24, Toyota unveiled a prototype of the new hydrogen sedan built on the same platform as its luxury Lexus brand’s LS coupe. The new Mirai model boasts longer driving range than its predecessor and completely redesigned fuel cell stack and hydrogen tanks, the company said.

“We wanted to make a car that people really want to buy, not just because it’s an eco car,” Yoshikazu Tanaka, chief engineer of the new Mirai, said at the unveiling.

“We wanted something that’s fun to drive.”

Its sporty redesign with longer wheelbase and lower-slung chassis is a marked departure from the first-generation Mirai, which looks like a bulked-up Prius hybrid.

The new car also has a 30% improvement in driving range over the previous iteration’s approximately 700 kilometers (435 miles), according to the company.

Tanaka said the latest Mirai would cost less to make than its predecessor, because of a shift to mass production. The current model is mostly assembled by hand.

Costing consumers about 5 million yen ($46,500) after subsidies in Japan, the original Mirai is one of three fuel cell cars available to consumers. Hyundai Motor Co sells the Nexo, while Honda Motor Co Ltd leases out the Clarity.

Toyota has sold fewer than 10,000 of the Mirai, a fuel cell sedan it touted as a game changer at its launch five years ago. By contrast, Tesla sold 25,000 of battery-powered Model S sedans in its first year and a half.

Toyota declined to disclose a price for the model and said it would be available from late next year in Japan, North America and Europe. – Reuters


Ford, Mahindra agree US$275m deal for India, emerging markets

MUMBAI, Oct 1 — Ford Motor Co and Mahindra & Mahindra will form a joint venture in India valued at $275 million (RM1.15 billion) to produce and sell vehicles in the country and export to emerging markets, the two companies said today. The two…


MISC to rake in RM842m from two new LNG vessels

PETALING JAYA: MISC Bhd has signed an agreement with Mitsubishi Corp and Nippon Yusen Kabushiki Kaisha to co-own two new liquefied natural gas (LNG) vessels, with a capacity of 174,000 cubic metres each.

MISC told Bursa Malaysia that each LNG vessel will serve Diamond Gas International Pte Ltd’s (DGI) LNG carrier requirements worldwide, particularly LNG volumes from the US and Canada, on a time charter contract for a firm period of 18 years.

MISC’s interest in the total contract value is estimated at US$201.6 million (RM841.6 million).

The LNG vessels, currently being built by Hyundai Samho Heavy Industries, are expected to be delivered in 2021 and the time charter contract will commence upon delivery.

Mitsubishi Corp, headquartered in Tokyo, Japan, is a global integrated business enterprise comprising 10 business groups.

Meanwhile, NYK, which is also based in Tokyo, operates a sizeable fleet of ocean vessels, planes and trucks.

DGI is a wholly owned subsidiary of Mitsubishi that manages the sales and marketing of Mitsubishi’s equity offtake of LNG volumes from the US and Canada as well as from other countries around the world.


MISC to rake in RM842m from two new LNG vessels

PETALING JAYA: MISC Bhd has signed an agreement with Mitsubishi Corp and Nippon Yusen Kabushiki Kaisha to co-own two new liquefied natural gas (LNG) vessels, with a capacity of 174,000 cubic metres each.

MISC told Bursa Malaysia that each LNG vessel will serve Diamond Gas International Pte Ltd’s (DGI) LNG carrier requirements worldwide, particularly LNG volumes from the US and Canada, on a time charter contract for a firm period of 18 years.

MISC’s interest in the total contract value is estimated at US$201.6 million (RM841.6 million).

The LNG vessels, currently being built by Hyundai Samho Heavy Industries, are expected to be delivered in 2021 and the time charter contract will commence upon delivery.

Mitsubishi Corp, headquartered in Tokyo, Japan, is a global integrated business enterprise comprising 10 business groups.

Meanwhile, NYK, which is also based in Tokyo, operates a sizeable fleet of ocean vessels, planes and trucks.

DGI is a wholly owned subsidiary of Mitsubishi that manages the sales and marketing of Mitsubishi’s equity offtake of LNG volumes from the US and Canada as well as from other countries around the world.


MISC to rake in RM842m from two new LNG vessels

PETALING JAYA: MISC Bhd has signed an agreement with Mitsubishi Corp and Nippon Yusen Kabushiki Kaisha to co-own two new liquefied natural gas (LNG) vessels, with a capacity of 174,000 cubic metres each.

MISC told Bursa Malaysia that each LNG vessel will serve Diamond Gas International Pte Ltd’s (DGI) LNG carrier requirements worldwide, particularly LNG volumes from the US and Canada, on a time charter contract for a firm period of 18 years.

MISC’s interest in the total contract value is estimated at US$201.6 million (RM841.6 million).

The LNG vessels, currently being built by Hyundai Samho Heavy Industries, are expected to be delivered in 2021 and the time charter contract will commence upon delivery.

Mitsubishi Corp, headquartered in Tokyo, Japan, is a global integrated business enterprise comprising 10 business groups.

Meanwhile, NYK, which is also based in Tokyo, operates a sizeable fleet of ocean vessels, planes and trucks.

DGI is a wholly owned subsidiary of Mitsubishi that manages the sales and marketing of Mitsubishi’s equity offtake of LNG volumes from the US and Canada as well as from other countries around the world.


Hyundai Motor Group, Aptiv to set up US$4b self-driving car JV

SEOUL, Sept 23 — Hyundai Motor Group will invest US$1.6 billion (RM6.6 billion) in a joint venture to develop self-driving vehicle technologies with Aptiv, the biggest overseas investment by the South Korean carmaker to catch up to rivals in the…


Indonesia nickel-ore export U-turn throws up investor red flag, say analysts

JAKARTA, Sept 8 — Indonesia's surprise plan to roll out a nickel-ore export ban two years early could scare foreign investors away from South-east Asia's biggest economy, analysts say, as it cements a reputation for policy flip-flops. Nickel…


Report: Japan’s Nissan mulls pulling out of S. Korea as trade tensions rise

TOKYO, Sept 6 — Nissan Motor Co is considering pulling out of South Korea, the Financial Times reported today, as political and trade tensions between Japan and South Korea have caused sales of Japanese products in the neighbouring country to…


India’s auto industry sheds 350,000 jobs since start of year

MANESAR (India), Sept 5 — The narrow lanes in Aliyar and Kasan villages in Manesar, an automotive manufacturing hub on New Delhi’s southern outskirts, would usually be packed on Sundays with migrant workers employed at the nearby plants enjoying…


Auto companies in India cut more jobs, halt production to tackle slowdown

NEW DELHI, Aug 22 — With India’s auto sales declining for the ninth straight month in July, more automotive manufacturers are laying off workers and temporarily halting production to keep costs in check, according to sources and documents seen…