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Magna launches China joint venture

The Canadian automotive supplier has expanded its global electrified powertrain offerings in China, with a joint-venture agreement with Huayu Automotive Systems Co on Wednesday. The joint venture, Huayu Magna Electric Drive System Co, will initially launch with 200 million yuan in registered capital and manufacture an electric-drive powertrain system in Shanghai for a German automaker.

Changan invests in electric R&D

Changan Automobile announced its Shangri-La Plan on Thursday in Shanghai to cease sales of fuel-powered conventional vehicles, with a complete electrification of its offerings by 2025. The automaker will invest 100 billion yuan in the new energy vehicle industry. That includes 40 billion yuan in the research and development of electric products, 30 billion yuan in power batteries, 20 billion yuan in charging facilities, services and sharing business, and 10 billion yuan in a specialized production platform.

UK dip drives down European sales

European car sales fell in September - the second monthly drop this year - due to concerns about Brexit among consumers in the United Kingdom. The fall more than of set gains in France, Italy and Spain. Registrations declined 2 percent from a year earlier to 1.47 million vehicles, the Brussels-based European Automobile Manufacturers' Association said Tuesday in a statement. Figures were dragged down by a 9.3 slide in the UK, the region's second-biggest market. Top-ranked Germany slumped 3.3 percent, burdened by one less business day than a year ago. Nine-month sales in the region rose 3.6 percent to 12 million autos.

Former Tesla exec joins farm startup

Tesla Inc's former director of battery technology has joined Plenty Inc to lead the vertical farming startup's plan to build indoor growing rooms around the world. Kurt Kelty, who joined Tesla in 2006 and left earlier this year, was one of the longest-serving executives at the carmaker led by Elon Musk. He joins SoftBank Group Corp-backed Plenty as senior vice-president of operations and market development. Kelty had previously spent more than 14 years at Panasonic Corp.

Nissan suspends Japan production

Nissan Motor Co is suspending domestic production of vehicles for the Japanese market for at least two weeks, to address misconduct in its final inspection procedures that led to a major recall, it said on Thursday. The issue has tarnished Nissan's brand at home, and along with a data falsification scandal at compatriot Kobe Steel, has raised questions about compliance and quality control at Japanese manufacturers.

Motoring - Agencies

(China Daily 10/23/2017 page19)