Automobile industry
Taiwan's Ministry of Economic Affairs is targeting at least 10 foreign companies from the US, Europe, Japan, and South Korea to invest in Taiwan, with plans to sign investment letters of intent in September. As part of its efforts to capitalize on a newly signed trade pact with
Automobile industry
The Chinese government has initiated a program to incentivize the purchase of environment-friendly vehicles by offering subsidies to buyers. As part of this effort, China will provide a minimum subsidy of 3,000 yuan (US$440) to consumers who purchase energy-efficient cars manufactured by Hyundai Motor Co. and Kia Motors
Automobile industry
Ford Motor Co. is investing $450 million in a state-of-the-art passenger vehicle manufacturing plant in Rayong, Thailand, which is scheduled to be completed in 2012. The facility will produce the next-generation Ford Focus for the Asia-Pacific region, with the company citing the plant's flexibility in building a diverse
Automobile industry
The Indian automobile industry has welcomed the government's decision to decontrol petrol prices, with industry body Society of Indian Automobile Manufacturers (SIAM) praising the move as "the only prudent approach for a rapidly growing economy." The industry expects the decision to supplement the growing economy and
Automobile industry
The American Automotive Policy Council (AAPC) has launched a new website, www.aapc.us, to showcase the economic contributions of U.S.-based auto companies to the American economy. The website provides a "one-stop shop" for information on auto manufacturing policy issues, highlighting the productive work of Chrysler
Automobile industry
A labour dispute at Denso (Guangzhou Nansha) Co, a Toyota affiliate in Guangzhou, has caused the plant to suspend production after hundreds of workers went on strike demanding higher wages and better benefits. The move has highlighted the growing demand for wage increases from mainland workers, who have long been
Automobile industry
Automobile demand in India has seen a significant uptick in May, with overall car sales increasing by 30.5% compared to the same period last year. According to industry data from the Society of Indian Automobile Manufacturers (SIAM), a total of 148,481 vehicles were sold in May, up from
Automobile industry
General Motors is on the verge of releasing its initial public offering (IPO), a move that will see the automaker re-emerge from the US Treasury's financial support. The IPO, valued between $10 billion and $20 billion, would make it the largest US IPO since Visa's $19.
Automobile industry
William Allen Lewis, a distinguished automobile salesman from Knoxville, Tennessee, passed away on Thursday at the age of 68 after a battle with lung cancer. Born in Knoxville, Lewis graduated from Fulton High School in 1959 and joined the Air National Guard the same year. He started his career in
Automobile industry
The American Automotive Policy Council (AAPC) has launched a new website, www.aapc.us, to showcase the economic contributions of U.S.-based auto companies to the American economy. The website provides a comprehensive resource on auto manufacturing policy issues and offers users a clean, modern, and easy-to-use format to
Automobile industry
Tesla Motors Inc.'s less glamorous business of selling environmental credits to automakers has helped ease the financial burden of its rechargeable sports cars, which have failed to turn a profit. The company revealed in a recent filing that it generated $13.8 million since 2008 from selling zero-emission
Automobile industry
China's auto sector is no longer immune to industrial unrest, as recent strikes at Honda, Toyota, and Tenso Corp plants demonstrate. The rising labor costs, exacerbated by the appreciating Chinese Yuan, have become a significant issue for foreign companies operating in the country. According to Li Jupeng, a
