DETROIT, Jan 13 (Reuters) – The Chinese government is said
to be looking to prepare at least 10 million car parking spots
for electric vehicles by 2020 in a new comprehensive policy due
to be announced soon, a top executive at a local automaker said
China relies on foreign oil for more than half of its oil
consumption and is looking to promote alternative fuel vehicles
in the world’s biggest auto market, whose growth topped 30
percent last year to 18 million units.
DETROIT (Reuters) – The public isn’t cutting Toyota Motor (7203.T: Quote, Profile, Research, Stock Buzz) much slack, but the world’s top automaker is looking to shake off the recall crisis and at least match the growth in its key U.S. market this year in what could bode well for its lusterless shares.
Almost exactly one year since its worst safety crisis erupted, Toyota executives at the Detroit auto show this week downplayed the company’s poor performance in the U.S. last year, saying the pieces were in place for a healthy recovery.
DETROIT (Reuters) – Even before it launches the first passenger cars under its own brand at home, China’s BAIC has set its sights on expansion overseas.
“If you want to be a sustainable automaker, you have to be global,” Wang Dazong, president of Beijing Automotive, told Reuters on the sidelines of the Detroit auto show.
DETROIT (Reuters) – Volvo Car expects China to become its biggest market as early as next year and its “second home market” after Sweden as the Chinese-owned automaker looks for sales to grow more than six times by 2015, a top company executive said.
Volvo, owned by the parent of Chinese automaker Geely Automobile Holdings Ltd (0175.HK: Quote, Profile, Research, Stock Buzz), is aiming to boost sales in China to 200,000 cars by 2015 from a little over 30,000 last year, riding the wave of rapid growth in the world’s biggest market, especially for premium vehicles, the head of its China operations said.
DETROIT (Reuters) – Toyota Motor Corp’s (7203.T: Quote, Profile, Research, Stock Buzz) (TM.N: Quote, Profile, Research, Stock Buzz) top engineer said the batteries that would power the electric RAV4 crossover being developed with Tesla Motors (TSLA.O: Quote, Profile, Research, Stock Buzz) could cost as little as one-third of the electric car batteries being developed by conventional automakers.
Silicon Valley startup Tesla links together thousands of lithium-ion batteries used in laptops to power its zero-emission Roadster sports car, while automakers with electric models such as Mitsubishi Motors Corp (7211.T: Quote, Profile, Research, Stock Buzz) and Nissan Motor Co (7201.T: Quote, Profile, Research, Stock Buzz) use expensive batteries developed specifically for EV use.
DETROIT (Reuters) – BYD Co Ltd, a Chinese car and battery maker backed by Warren Buffett, expects to enter the mass U.S. auto market in the first quarter of 2012, starting with its e6 electric car model, its chairman said on Monday.
“The United States offers a huge opportunity for new-energy vehicles, especially pure electric,” Chairman Wang Chuanfu told Reuters in an interview at the Detroit auto show.
DETROIT (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) unveiled a family of Prius cars with two new additions to the lineup as it aims to build the iconic hybrid series into a core pillar in the United States, its single-biggest market.
The roomier Prius v and compact Prius c concept were among the highlights of the Detroit auto show, where rivals also revealed green cars in a bid to attract an increasingly fuel-conscious customer base.
DETROIT (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) unveiled on Monday a family of Prius models with two new additions to its iconic hybrid series due to hit U.S. showrooms over the next 18 months.
Toyota, the world’s biggest automaker, has dominated the gasoline-electric hybrid market since putting the first Prius on the road in 1997. Toyota has 14 hybrid models globally, helping it win a reputation as one of the most advanced car makers in next-generation technology.
SEOUL/DETROIT (Reuters) – South Korea’s Hyundai Motor (005380.KS: Quote, Profile, Research, Stock Buzz) unveiled a new brand slogan at the Detroit auto show on Monday, seeking to transform its image as a maker of value-for-money vehicles into one that evokes “new premium” at affordable prices.
Under the slogan “New Thinking. New Possibilities,” Hyundai said it would aspire to emulate premium products such as Apple’s iPhone and the Nespresso coffee-making machine, while maintaining the affordability that has helped it become the world’s fifth-biggest automaker with affiliate Kia Motors (000270.KS: Quote, Profile, Research, Stock Buzz).
DETROIT (Reuters) – Fuji Heavy Industries’ Subaru brand is planning a hybrid model for the United States in 2013, although it remains to be seen how big an impact such cars would have on the market, a top executive at its U.S. unit said.
“We’re going to need something at some point, even (only) to say we have it because that enhances our brand image in the market,” Tom Doll, chief operating officer of Subaru of America, told Reuters in an interview at the Detroit auto show on Monday.