Hyundai plans Russian exit, negotiates sale of factories

Toyota-affiliate Daihatsu rigged safety tests of 88,000 vehicles

Toyota (NYSE: TM) affiliate Daihatsu rigged part of the door in side-collision safety tests carried out for some 88,000 small cars, most of which were sold under the Toyota brand, the companies said on Friday.

Daihatsu said it had discovered the rigged safety test after a whistleblower report. It said it had reported the issue to regulatory agencies and stopped shipment of affected models.

They said the door trim on the affected vehicles had been modified with a... More

Japan announces $1.8B in subsidies for storage battery, chip projects

Industry Minister Yasutoshi Nishimura announced Friday that Japan will provide as much as $1.8 billion in subsidies for a slate of storage battery and chip-related projects, marking Tokyo's latest push towards greater supply chain security.

The Japanese government plans to give up to 184.6 billion yen ($1.38 billion) in subsidies for eight storage battery-related proposals and up to 56.4 billion yen for two semiconductor-related projects,... More

BYD posts fivefold jump in 1Q profit

Chinese electric automaker BYD Co. posted a fivefold jump in its first-quarter profit on Thursday.

Net profit for the first three months of the year was 4.13 billion yuan ($596.56 million), up 410.9% from 808.41 million yuan a year earlier, on revenue up 79.8% at 120.17 billion yuan, the company said in a stock... More

Toyota (TM) inches past production goal, warns of lingering chip shortage

Japan's Toyota Motor (NYSE: TM) said Thursday that the Japanese automaker has produced 9.13 million vehicles in the 12 months through March 31, a fraction ahead of its target, though that goal was downgraded twice from an initial goal for the year of around 9.7 million amid industry... More

Mercedes-Benz launches new E-Class, its final ICE vehicle

Mercedes-Benz on Tuesday announced the launch of the German luxury automakers final new combustion engine model - the next generation of the E-Class. The new vehicle will be built in Germany and China and go on sale in Europe in the third quarter of this year.

It will... More

Jefferies Upgrades XPeng (XPEV) to Hold

Jefferies analyst Alexious Lee upgraded XPeng (NYSE: XPEV) from Underperform to Hold with a price target of $9.30 (from $4.20).

For an analyst ratings summary and ratings history on XPeng click here. For more ratings news on XPeng click here.

Shares of XPeng closed at $9.29 yesterday.

Jefferies Upgrades XPeng (H-Shares) (9868:HK) (XPEV) to Hold

Jefferies analyst Johnson Wan upgraded XPeng (H-Shares) (9868:HK) (NYSE: XPEV) from Underperform to Hold with a price target of HK$39.80 (from HK$17.90).