Gogoro: Becoming the De Facto Standard for BEV Motorcycles in Taiwan

2022-08-19 New!

Gogoro entered Taiwan’s BEV motorcycle market in 2015 with the launch of its first product, the Gogoro 1 series (Gogoro Smartscooter 1), and since has established a dominant position in the country. In 2021, Gogoro sold 74,000 BEV motorcycles in Taiwan (new registration data released by MOTC). Gogoro’s market share of Taiwan’s total motorcycle market (809,000 units) was 9.1%, but it controlled 78.7% of the country’s BEV motorcycle market (94,000 units) in 2021. Gogoro has also launched an alliance named "Powered By Gogoro Network (PBGN)" to provide itRead more...

Niu Technologies: Aiming to Expand Overseas Business with a Focus on Europe by Strengthening Electric Mobility Products for Various Areas Including Last One Mile

2022-08-19 New!

Between 2015 and 2019, Niu Technologies has launched four BEV scooter series, the NQi, MQi, UQi and Gova. The best-selling model in 2020 was the low-priced UQi series, but in 2021, the Gova series, which can be purchased for 3,000-4,000 CNY, is expected to be the best-selling model. The Gova series is a moped with a maximum speed of 25km/h. It is mostly sold in China. Niu aims to expand sales overseas, especially in Europe, where environmental awareness is high. The company mainly sells BEV scooters the NQi GTS and MQi GT in Europe, which are equivaleRead more...

Scutum Logistic (Silence): Europe’s Largest BEV Motorcycle Manufacturer

2022-08-12

Europe’s Largest BEV Motorcycle Manufacturer Scutum Logistic of Spain, which develops, manufactures and sells Silence brand BEV scooters, is the top seller in Europe among BEV motorcycle manufacturers. Established as a startup in 2012, Scutum’s investors are Acciona Mobility, an electric scooter rental company under the infrastructure and energy conglomerate Acciona Group, Caixa Capital Risc, a venture capital firm of La Caixa, Spain’s third largest bank, and Centre for the Development of Industrial Technology (CDTI), Spain’s industrial technology develRead more...

Askoll EVA: Seeing Sluggish Sales in the Face of Fierce Competition in Italy

2022-08-12

Italy's Askoll EVA, founded in 2014, is Europe's second largest BEV motorcycle manufacturer, following Spain's Scutum Logistic, which sells Silence brand BEV scooters. Askoll EVA is part of the electric mobility business of Italy's Askoll Group, whose main areas of expertise are electric pumps and motors for home appliances. The eS series was launched in 2015, focusing on sales mainly to delivery companies such as postal, pizza chains and home delivery operators in Italy and other European countries. The EVOlution series was introduced in 2019 followed bRead more...

Super SOCO: Expanding Sales Mainly in Europe in Partnership with Australia’s Vmoto

2022-08-11

Super SOCO is an emerging BEV motorcycle manufacturer in Shanghai, China, established in 2015. Its main products are scooters such as the CUX and CPX, and sports-type BEV motorcycles such as the TS and TC. The founder, Mr. Xie Yuxian, was a former motorcycle development manager at Honda R&D Co., Ltd. Many of the core members of X-IDEA, a design company in Shanghai responsible for Super SOCO’s product development, also came from Honda R&D Center. Super SOCO has formed a strategic alliance with Australian BEV motorcycle manufacturer and distributor Vmoto LRead more...

Ola Electric Mobility: Aiming for the Production of 10 Million BEV Motorcycles in 2027

2022-08-05

ANI Technologies Pvt. Ltd. (commonly known as Ola), India's largest ride-hailing service provider, operates mainly through two companies; Ola Fleet Technologies, which provides ride-hailing services, and Ola Electric Mobility (Ola EM), which handles electric vehicle business. The group also includes Ola Foods, a food delivery business, Ola Financial Services, a payment and insurance business, and its own think tank, Ola Mobility Institute. Ola EM was established in 2017 to launch and expand ride-hailing services, utilizing BEVs. The company was financialRead more...

Niu Technologies: Sold 1 Million Electric Mobility Units Worldwide and Raised Annual Production Capacity to 2 Million Units in 2021

2022-08-04

Niu Technologies is a Chinese smart urban mobility solutions company established in September 2014. In addition to developing, manufacturing and selling BEV scooters, it also develops its own fleet vehicle management platform. Products are mostly sold in China, but since 2019, Niu has been providing BEV scooters and platforms to sharing service providers in Europe and the United States, and is also strengthening its retail sales business for private users mainly in Europe. By 2021, more than 1 million units of electric mobility (BEV scooters / mopeds, elRead more...

Gogoro: Aiming to Build a HaaS Business Model with Swapping Batteries

2022-08-03

Gogoro is a Taiwanese electric motorcycle startup that was established in 2011, launching production and sales in 2015. Apart from motorcycles, the company has its own battery swapping network based on its own battery swapping system. The company has already established a leading position in the Taiwanese electric motorcycle market. The core of the company’s business strategy is to expand globally using the Hardware as a Service (HaaS) business model, focusing on swappable batteries and charging infrastructure, rather than on the manufacture and sales ofRead more...

Toyota Motor’s Business Developments in India’s EV Sector

2022-08-02

In July 2022, Toyota Motor began selling the Urban Cruiser Hyryder in India. The vehicle is a strong hybrid compact SUV developed by Suzuki Motor. The Urban Cruiser Hyryder is positioned between Toyota’s Fortuner, a midsize SUV, and the Urban Cruiser, a compact SUV supplied by Suzuki on an OEM basis. Toyota plans to invest a total of 48 billion INR to build a “local production for local consumption” system for electric vehicles. In June 2022, a production line for electrified parts went into operation at Toyota Kirloskar Auto Parts, which is a Toyota Read more...

Japanese Automakers Aim for More Effective Utilization of ASEAN Production System

2022-07-29

Japanese automakers use ASEAN as an important automobile production base. As global automakers are gradually shifting from ICEV-centered production around the world to BEV manufacturing, the same issue has also become a hot topic in ASEAN. In Thailand, BEV purchase subsidy is provided on condition that local production will be introduced in the future. Other countries are also aiming to promote the BEV industry and have already made some efforts toward this goal. On the other hand, as shown in the map below, low labor cost is the most competitive factor Read more...

Toyota Motor’s Sales Results in India in YTD March 2022

2022-07-29

Toyota Motor’s automobile sales in India dropped 17.5% to 33.161 units in the first quarter of 2022 compared to the same period of the previous year. MPVs accounted for over 42% of all sales following by SUVs with over 35%. Production declined 8.8% during the same period to 20,860 units. Bar graph: Toyota Motor: Production and Sales Volume of Automobiles in India (2017-2021, YTD March 2021-2022) Pie chart: Toyota Motor: Sales Composition of Automobiles by Model in India (2021) Tables: Toyota Motor: Sales, Production and Export Volume of AutomobileRead more...

Honda Motor’s Sales Results in Thailand in YTD May 2022

2022-07-27

Honda Motor’s automobile sales in Thailand inched up 1.1% to 35,766 units in the first five months of 2022 compared to the same period of the previous year. Although most models declined, the hybrid HR-V, launched in November 2021, added 7,458 units to the total, saving the manufacturer from plunging into the red. In the first five months of 2022, hybrid vehicles accounted for 26.8% of all vehicle sales, going up from 5.4% during the same period of 2021. Bar graph: Honda Motor: Sales Volume of Automobiles by Type and HEV Share of Total Sales in ThailaRead more...

Mazda Motor’s Global Production Capacity of Automobiles

2022-07-25

Mazda Motor's 2021 global factory utilization rate fell 5.1pp year-on-year to 55.7%. Production volume in Japan decreased only slightly compared to the previous year, thanks to declining impact of COVID-19. However, production significantly decreased in countries where the pandemic reemerged, mainly in China and Southeast Asia. The overall factory utilization rate declined due to the stagnation of logistics and the global shortage of semiconductors. Bar graph: Mazda Motor: Utilization Rate of Factories by Country / Region (2018-2021) Bar graph: MazdaRead more...

Audi’s 2021 Sales Results in Japan

2022-07-22

Audi's vehicle sales in Japan increased 1.0% year-on-year to 22,535 units in 2021. In 2020, when many foreign brands decreased by around 15-20% in Japan, Audi’s rate of decline was relatively small at 7.9%, maintaining a sense of stability among brands with an annual sales scale of over 20,000 units. In January 2022, Audi announced its e-tron strategy to promote electrification in the Japanese market. In Japan, the automaker intends to phase out the sales of conventional vehicles by 2033. The Q4 e-tron, a compact SUV, is scheduled to go on sale in the fRead more...

Porsche’s 2021 Sales Results in Japan

2022-07-22

Porsche's vehicle sales in Japan decreased 3.8% year-on-year to 7,009 units in 2021, becoming the first year with a drop in sales after 11 consecutive years of increase since 2009. Porsche's worldwide sales in 2021 exceeded 300,000 units for the first time. While Porsche is increasing sales in the US and China, demand in Japan has been lingering around 7,000 units for the last five years. With the aim of expanding sales in Japan, Porsche opened a brand experience facility Porsche Experience Center Tokyo in October 2021. In addition, Porsche Japan is expaRead more...

Daihatsu Motor’s Global Production Capacity of Automobiles

2022-07-22

Daihatsu Motor’s factory utilization rate in Japan was 84.0% in 2021, down 4.0pp from the previous year. The automaker’s factory utilization rate was close to 90% from 2017 to 2019 but dropped several percentage points below in 2021 for the second consecutive year. The decline is due to the suspension of operations triggered by the outbreak of the new coronavirus in domestic factories, the shortage of parts supply from corona hit Southeast Asia, and production adjustments resulting from the shortage of semiconductors. Daihatsu Motor: Operation Status Read more...

Mitsubishi Motors’ Global Production Capacity of Automobiles

2022-07-20

Mitsubishi Motors' factory utilization rate in Japan was 51.4% in FY 2021, up 6.5pp from the previous year. Domestic automobile production reached 421,000 units, up 14.7% from the previous year. Although both factory utilization rate and production improved from 2020, the increase was far from significant considering that factory utilization rate was 80.9% and production reached 661,000 units in FY 2018 which were the highest in the past five years. Bar graph: Mitsubishi Motors: Operating Rate and Production Volume in Japan (Actual: FY 2015-2020,Read more...

Kobe Steel’s Recent Business Developments

2022-07-15

Kobe Steel, which manufactures steel sheets for automobiles among other products, is working toward carbon neutrality by 2050. As part of this effort, the machinery business division was reorganized in April 2022. A new business promotion headquarters will be set up within this division to accelerate the development of equipment and devices related to carbon neutrality and the creation of new businesses. In October 2021, in collaboration with its subsidiary Kobelco Eco-Solutions, Kobe Steel started developing a process to effectively utilize steel slag gRead more...

Honda Motor’s Global Production Capacity of Automobiles

2022-07-15

Honda Motor’s global automobile production capacity peaked at 5.7 million units / year in 2019, but shrank to 5.48 million units in 2021 and to 5.14 million units as of June 2022. The decline in production capacity is due to several plant closures around the world. Honda discontinued production in the Philippines in March 2020, in Argentina around May 2020, in the UK in July 2021, in Turkey in September 2021 and at the Sayama Automobile Plant in Japan at the end of December 2021. In contrast, in anticipation of rising demand in China, Honda is building tRead more...

BMW / MINI’s 2021 Sales Results in Japan

2022-07-14

In 2021, automobile sales of BMW and its premium small car brand MINI decreased 2.9% from the previous year to 54,471 units in Japan, dropping even below 2020’s level when the pandemic wreaked havoc. The BMW brand inched up 0.5% to 35,905 units, achieving a slight recovery similarly to other foreign brands in Japan. On the other hand, the MINI brand declined 9.8% to 18,211 units, resulting in a drop in overall sales. BMW and MINI’s share in the foreign brand market decreased 0.9pp to 21.0%, continuing to decline for the fifth consecutive year from 25.6% Read more...

Global BEV / PHEV Market Led by Chinese, EU Brands; Japanese OEMs Lack Serious Presence

2022-07-12

The global PHEV / BEV / FCEV market increased 2.1-fold from the previous year to 6,706,428 units in 2021 (The data is based on sales results of 42 countries around the world [sales data of some countries was substituted with production or registration data] which account for 85% of the world’s total automobile market.). China accounted for 52.0% of the global market, going up 2.7-fold to 3,487,100 units. China was followed by Europe with 33.7%, North America with 10.9%, South Korea with 1.7% and Japan with a mere 0.7%. Graph: World: Market Size of PHERead more...

Interview: E-Axle Supplier Nidec Aims for 4 Trillion JPY in Automotive Business in 2030

2022-07-08

Nidec Corporation, a manufacturer and distributor of electric motors, aims to raise sales to 10 trillion JPY in 2030, of which 4 trillion JPY is expected to be generated by its automotive business. Nidec aims to use BEV and other electric vehicle drive motors to capture top share in the world in an effort to achieve its goal. In addition, the company is working on expanding its product lineup of E-Axle that combines motors, inverters and gears, increasing production capacity ahead of other companies, and boosting in-house production of parts and productiRead more...

Japan’s Imported Automobile Market in 2021

2022-07-08

Japan’s imported automobile sales increased 8.4% in 2021 from the previous year to 344,552 units. Japanese brand vehicles imported from abroad rose 37.1% to 84,800 units, pushing up overall imported vehicle sales. Nissan, which started importing the Kicks in June 2020, increased 81.7% to 43,872 units, rising to second place after Mercedes-Benz. Looking at monthly sales, in the first eight months, sales results surpassed those of the previous year mostly because of the negative impact of the pandemic in 2020. However, from September sales fell below the pRead more...

Honda Motor’s CASE Strategy Until 2030

2022-07-08

Honda Motor is accelerating the development of electric, and software / connected areas. The automaker plans to invest 8 trillion JPY in R&D in 10 years until 2030, increasing R&D expenses by about 15% compared to the previous 10 years when it injected 7 trillion JPY in R&D. Of the 8 trillion JPY, 3.5 trillion JPY will be used for in electrification and software. Honda held a briefing on automobile electrification in April 2022. The automaker plans to release 30 BEV models by 2030. Ten BEV models are planned to be launched until 2027 including the e:NRead more...

Overview of Automobile Finance Companies Operating in China

2022-07-08

In China, a total of 24 OEM-financed companies were operating automobile finance sector as of April 2022. At the end of 2020, total assets of automobile finance businesses stood at 977.5 billion CNY, up 7.9% from the previous year (this figure also includes Hawtai Auto Finance which ended automobile finance operations in June 2021). In addition to commercial banks, OEM-led automobile finance companies are also facing intensifying competition as financing from online companies and leasing companies continues to diversify. With the growth of the automobRead more...

Japanese OEMs: Electrification of Small-lot Delivery in Asia

2022-07-01

Demand for purchasing goods via e-commerce platforms such as Amazon and the accompanying small-lot delivery services are expanding year by year. Similar trends can be seen in India, ASEAN and China. For such last-mile delivery, various vehicles such as vans, trucks, three wheelers, motorcycles, and bicycles are used because the required delivery method differs from city to city. Looking at the van market in India and Indonesia, Asia’s second and third most populous nations, India maintained a market size of over 100,000 units, exceeding 200,000 units at Read more...

Honda Motor’s Motorcycle Business Developments in India

2022-07-01

Honda Motor’s local subsidiary Honda Motorcycle & Scooter India (HMSI) is stepping up export activities in India. HMSI has been exporting products to 40 countries around the world and plans to continue expanding exports in the future. HMSI’s cumulative export volume of motorcycles from India reached 3 million units in March 2022. In April 2021, HMSI announced to expand its overseas business division launching a new organization. The new entity integrates sales, engineering, development, purchasing, and quality functions to build an optimal system for expRead more...

Honda Motor’s Business Roadmap for Motorcycles in India

2022-07-01

In April 2022, Honda Motorcycle & Scooter India (HMSI), Honda's Indian motorcycle company, released a roadmap on its future business strategy in India. The four growth areas outlined in the roadmap are (1) expansion of exports to developed countries, (2) introduction of flex-fuel vehicles, (3) expansion of low-priced motorcycles, and (4) introduction of electric motorcycles. HMSI has already exported products to 40 countries such as European nations and Japan, and plans to continue expanding exports to developed countries. Honda plans to introduce flex-fRead more...

Battery Swapping E-bikes Gaining Popularity in China’s Food Delivery Sector

2022-06-29

Battery swapping is gaining popularity in China’s electric bicycle delivery service sector thanks to its convenience and low initial investment. While battery charging requires 6-8 hours to fully recharge a battery, battery swapping reduces this time to mere seconds. In addition, battery charging makes it necessary for delivery drivers to purchase extra batteries in order to be able to work while the original batteries are being charged, creating a financial burden for drivers. In case of battery swapping, there is no need for buying extra batteries. ForRead more...

Honda Motor’s Global Financial Results in FY 2021

2022-06-24

Honda Motor's global consolidated financial results for FY 2021 were as follows: sales increased 10.5% year-on- year to ¥ 14.55 trillion JPY, and operating income went up 32.0% to 871.2 billion JPY. Although the shortage of semiconductors weakened sales and the prices of raw materials skyrocketed, cost reductions, incentive restraints and favorable foreign exchange fluctuation led to a significant increase in profits. Honda’s operating profit margin increased 1.0 pp to 6.0%. in addition, both operating profit and operating profit margin exceeded the pre-Read more...

Nissan Motor’s Global Financial Results in FY 2021

2022-06-24

In FY 2021, Nissan Motor returned to profitability with net sales up 7.1% year-on-year to 8.42 trillion JPY and operating income reaching 247.3 billion JPY. Nissan had been in the red for the second consecutive term until the previous year, but its business performance improved due to better sales quality and exchange rate fluctuations. In the fourth quarter of FY 2021, business conditions were severe due to the effects of soaring raw material prices, product supply shortages and the re-expansion of the new coronavirus infection. However, in the full FY Read more...

Toyota Motor’s Global Financial Results in FY 2021

2022-06-23

Toyota Motor's consolidated financial results for fiscal year 2021 were as follows: operating revenue increased 15.3% year-on-year to 31.4 trillion JPY, and operating income rose 36.3% year-on-year to 3.0 trillion JPY. Sales increased by more than 4 trillion JPY from the previous year, reaching more than 30 trillion JPY for the first time in three years. Consolidated sales went up 7.6% year-on-year to 8.23 million units, but did not reach the pre-corona level of fiscal year 2019’s 8.95 million units. In fiscal year 2021, despite the reemergence of COVRead more...

South Korea’s Segmented Sales Results of Automobiles in 2021

2022-06-21

The South Korean automobile market decreased 8.8% from the previous year to 1,712,862 units in 2021. Sales fell below the previous year's record high level due to vehicle shortage and other factors. While passenger cars such sedans and hatchbacks declined16.4% to 684,397 units, SUV sales went down a mere 3.8% to 687,392 units. In the premium segment, Hyundai’s luxury brand Genesis increased significantly. Bar graphs: South Korea: Sales Volume of Automobiles by Type and Segment (2016-2021) Pie charts: South Korea: Sales Composition Ratio of SUVs by SeRead more...

Indonesia’s Segmented Sales Results of Automobiles in 2021

2022-06-17

Indonesia's automobile market increased 66.8% year-on-year to 887,202 units in 2021. The recovery was large after the sharp decline in 2020, but the market only rose to some 80% of the pre-corona level of 2019. Although Indonesia implemented luxury tax exemption on new vehicles in March 2021, reduced production scale due to insufficient parts supply weakened sales. As a result, the sales of compact passenger cars and small MPVs, Indonesia’s core vehicle segments, failed to surpass 2019’s level. Passenger car sales went up 40.9% to 124,500 units, while smRead more...

Malaysia’s Segmented Sales Results of Automobiles in 2021

2022-06-17

The Malaysian automobile market fell 3.9% year-on-year to 508,911 units in 2021. This report covers the top six brands of Malaysia which accounted for 89.7% of the market in 2021. While the small SUV market markedly expanded in 2021, the lower compact segment (A/B), which is Malaysia’s largest segment, shrank. Although there has been steady demand for sedans and hatchbacks, the Malaysian market witnessed a shift in demand in 2021 from small passenger cars to small SUVs. Table: Malaysia: Sales Volume of Automobiles by Type, Segment and Brand / Model (2Read more...

Philippines’s Segmented Sales Results of Automobiles in 2021

2022-06-17

Automobile sales in the Philippines went up 18.2% year-on-year to 293,336 units in 2021. This report covers the top eight brands of the Philippines which accounted for 89.6% of the market in 2021. The market growth was sluggish due to restrictions on activities triggered by the new coronavirus infection, and provisional safeguard measures imposed on imported cars from February to August. The overall market size reached around 70% that of the pre-corona 2019 level. However, sales results of three segments, A, sports and M&HCV, surpassed that of the 2019 lRead more...

Vietnam’s Segmented Sales Results of Automobiles in 2021

2022-06-17

Vietnam’s vehicle sales decreased 2.9% year-on-year to 383,444 units in 2021 (based on combined vehicle sales data of VAMA members and two non-members Hyundai Motor’s local subsidiary Hyundai Thanh Cong Vietnam (HTCV) and local automaker VinFast. Passenger car sales decreased 14.6% from the previous year to 145,103 units. The market share of passenger cars fell 5.2 pp to 37.8%. SUVs increased 7.4% year-on-year to 118,076 units, and their share of the total market rose to 30.8%. In 2021, the SUV segment performed well thanks to the launch of five new modeRead more...

India’s Segmented Sales Results of Automobiles in 2021

2022-06-10

The Indian automobile market recovered to 3,782,951 units in 2021, up 28.0% from the previous year. However, the market size did not reach the 2019 level of 3.8 million units before the outbreak of corona infection, and it was far below the 2018 level of 4.4 million units, which was the latest sales peak. In 2021, the resurgence of the corona virus and insufficient parts supply, especially semiconductors, slowed the momentum of recovery to a higher level. Bar graphs: India: Sales Volume of Automobiles by Type and Segment (2016-2021) | India: Annual ChRead more...

Taiwan’s Segmented Sales Results of Automobiles in 2021

2022-06-10

Taiwan's automobile market fell 1.7% year-on-year to 449,855 units in 2021. Although sales declined due to the pandemic, it was still the second highest level in the past six years. The SUV segment increased 11.3% to 164,936 units, driven by medium and large models, surpassing the 150,000-unit level for the first time. Medium and heavy commercial vehicles went up 23.6% to 28,400 units, reaching the highest level in the past six years. In contrast, passenger car sales dropped 16.5% to 93,825 units, falling to the lowest level in the past six years. MPVs dRead more...

Thailand’s Segmented Sales Results of Automobiles in 2021

2022-06-08

Thailand’s automobile sales declined 4.2% from the previous year to 759,199 units in 2021. The decrease is attributed to the continued impact of the pandemic and few new compact car and one-ton pickup truck models on the market in 2021 which are the main segments of Thailand. On the other hand, several medium and large SUV models were revamped or newly launched. As a result, the share of this segment in the overall market increased 1.5pp to 11.8%, reaching an historic high level. Bar graph: Thailand: Sales Volume of Automobiles by Type and Segment (20Read more...

Lexus’s Global Sales Results in 2021, Becoming A BEV-only Brand by 2035

2022-06-07

Toyota Motor’s luxury vehicle brand Lexus has been steadily increasing global sales. Lexus sold about 400,000 units globally in 2011, but sales exceeded 765,000 units by 2019. In 2020, when corona was wreaking havoc around the world, Toyota Group’s overall sales declined 10.8% from the previous year; however, Lexus’s rate of decline was only 6.1%, maintaining sales above 700,000 units. In 2021, although sales did not reach the pre-corona level of 2019, it increased 5.7% to over 760,000 units. Looking at sales composition by market in 2021, North AmeriRead more...

Infiniti’s Global Sales Results in 2021, Poor Sales in Europe

2022-06-03

Nissan Motor’s luxury car marque Infiniti is intending to rebuild its brand strategy under Nissan’s medium-term management plan Nissan NEXT. With the sales of Infiniti brand models declining, Nissan discontinued production of the Infiniti Q30 and QX30 in Sunderland, UK in 2019, and withdrew from the European market in 2020. After leaving Europe, Infiniti has been expanding business activities in the United States and China. Infiniti sold some 218,000 units worldwide in 2017; however, this figure dropped to around 110,000 units in 2020 when the luxury braRead more...

Acura’s Global Sales Results in 2021, Sharp Decline in China

2022-06-03

Honda Motor is reviewing the regional and product strategies of the luxury car brand Acura. Acura's worldwide sales in 2021 increased 10.6% year-on-year to 182,948 units. While sales increased nearly 15% in the US and Canada, Acura’s sales in China saw an over 45% decline in 2021. Sales in North America have been around 170,000 units for the past six years. On the other hand, sales in China peaked with 15,402 units in 2019 but sharply fell in the following two years. For this reason, in April 2022, GAC Honda, which handles the Acura brand in China, annouRead more...

Chervon Auto Expands NEV Parts Supply, Sets Up Factory in Hungary

2022-06-02

Nanjing Chervon Automotive Precision Technology Co., Ltd. is a Chinese automobile parts suppliers that manufactures and sells heat exchange, transmission, engine, and new energy vehicle parts among other products. The company was listed on the Shanghai Stock Exchange in May 2019. Its main customers are BorgWarner, Valeo, Schaeffler and other global component makers, indirectly supplying parts to multiple automakers in China and worldwide. According to Chervon Auto, sales revenue in 2021 increased 16.5% from 2020 to 1.61 billion CNY. The expansion of the Read more...

Toyota Motor’s Business Developments in Thailand

2022-06-01

In 2021, Toyota Motor’s automobile sales in Thailand decreased 1.9% compared to the previous year to 239,723 units. Meanwhile Toyota’s market share increased 0.8 pp to 31.6%. For 2022, Toyota has set an ambitious sales target of 284,000 units, up 18.5% from 2021. The automaker also aims to raise its market share by 1.4 pp to pre- corona level 2019’s 33.0%. In 2021, model launches were mainly limited to the introduction of the GR Sport grade and the Modellista brand which offers body kits and accessories for existing models. Meanwhile, Toyota further promRead more...

Toyota Motor’s Sales, Production and Exports Results in Thailand in 2021

2022-05-27

Toyota Motor has set a vehicle sales target of 284,000 units for 2022 in Thailand, up 18.5% from the previous year, and a market share of 33.0%, up 1.4 pp. Compared to the pre-corona level of 2019, Toyota is expecting an 85% recovery of sales and full recovery of market share. In 2021, due to the effects of the corona lockdown and other factors, sales decreased 1.9% to 239,723 units. Meanwhile production increased 15.9% to 518,981 units and exports went up 35.5% to 291,722 units. Bar graph: Toyota Motor: Production and Export Volume of Automobiles in Read more...

Japan’s EV Battery Charging Infrastructure Development

2022-05-27

In March 2022, Japan’s Ministry of Economy, Trade and Industry announced the expansion of support measures for the introduction of charging infrastructure in order to promote the spread of BEVs and PHEVs. Parking lots and commercial facilities that were not previously covered by the subsidy are now also be covered. Infrastructure expansion is required for the popularization of BEVs, but the increase of quick charger installation locations has been sluggish especially since 2019. The number of BEVs and PHEVs owned in Japan exceeded 200,000 units in FY 20Read more...

Asia’s EV Battery Charging Infrastructure Development

2022-05-26

This report gives a brief summary on the development status of the BEV battery charging infrastructure in Asian countries with a large automobile market (India, Indonesia, Malaysia, Philippines, South Korea, Taiwan, Thailand, Vietnam), and on related government policies (China and Japan are not covered by this report). In the mid-2010s, the insufficient BEV battery charging infrastructure became a global issue. Furthermore, many countries, out of the eight countries covered by this report, need to prioritize the development of their social infrastructureRead more...

China’s Battery Swapping Heavy-duty BEV Truck Sector

2022-05-24

The electrification of heavy-duty trucks has not been advancing as fast as that of passenger vehicles in China. There are issues with the purchase price, charging time and charging network. Battery-swapping has been proposed as a solution since around 2020 to solve these problems. While only 35 units of battery-swapping heavy-duty trucks were sold in 2020, that figure rose to 3,228 units in 2021. Battery-charging heavy-duty trucks are 2-3 times more expensive than their conventional counterparts; however, battery-swapping heavy-duty trucks are significanRead more...

Honda Motor’s Business Developments in Indonesia

2022-05-20

Honda Motor’s automobile sales dropped 37.7% in 2021 compared to 2019. The automaker’s market share fell 3.5pp to 10.3% due to fast recovery of the top three brands in the Indonesian market Toyota, Daihatsu and Mitsubishi. In an effort to boost sales, Honda has been releasing upgraded models since the second half of 2021. The fully-remodeled BR-V subcompact crossover, which was Honda’s best-selling model in Indonesia in the first quarter of 2022, was launched in September 2021. Another subcompact crossover, the HR-V, which was Honda’s second best-sellingRead more...