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☆ 'China has disappointed': These are the top markets and stocks to invest in, according to the pros
▼ + stars: | 2023-08-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

In contrast, nearly $1 billion went into emerging market ex-China mutual funds, according to Refinitiv data that Reuters cited. Here are some alternatives to China and the stocks to invest in, according to the pros. Japan Japan stocks have been an investor favorite this year, seeing the highest inflows in 20 years, according to Eastspring Investments. Demand for Japan funds has surged among European investors, according to data from research firm Cerulli. The bank screened for Japan stocks with the following attributes: resilient earnings, price-to-book (P/B) ratio below 1.5, and potential P/B upside relative to return on equity.

Persons: Morningstar, “, ”, Derrick Irwin, there's, Oliver Lee, BofA, Joanne Peng, Allspring's Irwin, Irwin, Fomento, He's, Morgan Stanley, Will, ” Irwin, Cerulli’s Peng Organizations: Morningstar, CNBC Pro, Reuters, Allspring Global Investments, CNBC, “, Eastspring Investments, Ivailo, Mitsui & Co, Honda Motor, Nomura, Kansai Electric Power, Mitsubishi Motors, Panasonic, Mexicano, HDFC Bank, HDFC Locations: European, China, India, Beijing, Japan Japan, Japan, Europe, Vietnam, Asia, Indonesia, Malaysia, Southeast Asia, Mexico, America, Will China

☆ Only one car model sold for under $20,000 in July — but experts say vehicle prices are stabilizing
▼ + stars: | 2023-08-11 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Even as prices improve, there was only one car model sold below $20,000 in July. Today, that's not the case, but experts say buyers might see some relief from sky-high car prices soon. The only car model that sold below $20,000 last month was the Mitsubishi Mirage, transacting for an average $19,205, according to Kelley Blue Book. Now, it's challenging to find a ride in the $20,000 price range even if a shopper is considering used. They hit $53,469 in July, down nearly 18% less from $65,108 one year ago, per Kelley Blue Book.

Persons: that's, Kelley, Kia Rio, COVID, That's, Rebecca Rydzewski Organizations: Mitsubishi Mirage, Toyota Corolla, Nissan, Cox Automotive

☆ Indonesia gives automakers more time to qualify for EV credits in investment bid
▼ + stars: | 2023-08-10 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +3 min

[1/5] A worker stands near a Mini Cooper Electric car, that is displayed during the Gaikindo Indonesia International Auto Show in Tangerang, near Jakarta, Indonesia, August 10, 2023. REUTERS/Willy KurniawanTANGERANG, Indonesia, Aug 10 (Reuters) - Indonesia said on Thursday it would give automakers two more years to qualify for electric vehicle incentives in Southeast Asia's largest auto market, a move followed by investment commitments by China's Neta EV brand and Mitsubishi Motors. The moves announced at the Jakarta auto show come as Indonesia races Thailand and India to build out an EV industry as an alternative to China, the world’s largest producer. Indonesia is Southeast Asia’s largest auto market and its second-largest production hub behind Thailand. Until now, only two manufacturers have shifted enough production to Indonesia to qualify for full incentives: Wuling Motors (0305.HK) and Hyundai (005380.KS).

Persons: Willy Kurniawan TANGERANG, Agus Gumiwang Kartasasmita, ” Agus, Wuling, Hiroyuki Ueda, Stefanno Sulaiman, Kevin Krolicki, Conor Humphries Organizations: Cooper, REUTERS, China's, Mitsubishi Motors, Toyota, Daihatsu, Honda, Mitsubishi, New Energy Automobile, Wuling Motors, HK, Hyundai, Wuling, Air EV, Reuters, Gaikindo, Auto Show, Astra Motor, PT Astra International, Thomson Locations: Indonesia, Tangerang, Jakarta, Thailand, India, China, Southeast, Neta, Gaikindo Indonesia

☆ Indonesia says Mitsubishi Motors plans to invest $375 mln in 2024
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

A man walks near Mitsubishi cars as he visits Tokyo Motor Show in Tokyo, Japan October 24, 2019. "We are optimistic that, if implemented, this can boost investment and increase demand to use EVs," Agus said. A Mitsubishi spokesperson said executives from its Tokyo headquarters on Wednesday met with Agus for talks, declining to comment further. Mitsubishi reported combined retail and wholesale sales in the ASEAN region of 120,000 vehicles for the three months to June 30, dropping 1.6% from a year earlier. In Thailand, its retail and wholesale sales slumped to 17,000 units during that period, down from 25,000 a year earlier.

Persons: Soe Zeya, Agus Gumiwang Kartasasmita, Agus, Bernadette Christina, Fransiska, Rocky Swift, Daniel Leussink, Louise Heavens, David Evans Organizations: Mitsubishi, Tokyo Motor, REUTERS, Mitsubishi Motors, Wednesday, Japan's Nikkei, Guangzhou Automobile Group, Thomson Locations: Tokyo, Japan, JAKARTA, Indonesia, Thailand, China, ASEAN, Jakarta

☆ Sweaty Europe can kill two birds with one pump
▼ + stars: | 2023-08-07 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +8 min

What may be less immediately obvious is that heat pumps are the best way to do both. In Europe, currently only 16% of residential buildings use heat pumps, according to a study from the European Heat Pump Association (EHPA) based on data from 21 countries including non-EU Britain and Norway, with 20 million heat pumps installed. On average buying and installing a heat pump could cost up to $13,000 compared to $2,500 for a gas boiler. Heat pump sales rose 35% in Italy last year, making it Europe’s second-biggest marketplace after France, EHPA data shows. To meet net-zero targets by 2030 EHPA estimates Europe would need 60 million more heat pumps installed by 2030.

Persons: Remo Casilli, Olaf Scholz’s, Joe Biden’s, António Guterres, George Hay, Oliver Taslic, Streisand Neto Organizations: Popolo, REUTERS, Remo Casilli LONDON, Reuters, International Energy Agency, IEA, European Union, Pump Association, Reuters Graphics, U.S . Energy Information Administration, Carrier, Mitsubishi Electric, Daikin Industries, El, El Corte Inglés, Thomson Locations: Italy, Rome, Europe, EU Britain, Norway, France, Germany, Poland, Brussels, Britain, United States, U.S, U.N, El Corte

☆ Drivers Frustrated With Their Cars Door Handles, Screens, Other Tech
▼ + stars: | 2023-08-07 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +4 min

The auto research firm JD Power assessed dozens of vehicle brands for its latest quality study. The overall quality of new vehicles is deteriorating and nagging problems are on the rise, according to a new study from JD Power. "The basic touch point of door handles is now a percolating problem area as manufacturers attempt to redesign them," JD Power said. JD Power assigned a score to each auto brand based on problems per 100 vehicles, and calculated an industry average of 192 problems per 100 vehicles (PP100), up from 180 in 2022. In terms of vehicles themselves, the Nissan Maxima had the highest initial quality overall, with 106 problems per 100 vehicles, according to the survey.

Persons: Tesla, Dodge, Frank Hanley, Power, JD Power, Ram, Alfa Romeo, Polestar Organizations: JD Power, Fiat Chrysler, French PSA Group, Buick, Chevrolet, Volvo, Chrysler, Volkswagen, Nissan, JD, Dodge, Romeo, GMC, Porsche, Kia, Lexus, Maserati, Hyundai, Honda, BMW, Mitsubishi, Toyota, Ford, Benz, Rover, Mazda, Acura, Lincoln

☆ Mitsubishi UFJ to invest $936 mln in U.S. Bancorp
▼ + stars: | 2023-08-03 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +1 min

People queue inside a branch of the Mitsubishi UFJ (MUFJ) Financial Group's bank of Tokyo-Mitsubishi UFJ in Tokyo, Japan, February 1, 2016. In return, MUFG's stake in the fifth largest U.S. bank will rise to 4.4% from 2.9%. MUFG sold its U.S. retail banking unit MUFG Union Bank to U.S. Bancorp for $8 billion last year. As part of the deal, U.S. Bancorp received $3.5 billion in additional cash held by MUFG Union Bank which it is required to repay within five years. The Minneapolis-based bank will also help MUFG with U.S. dollar liquidity support, allowing the Japanese bank to diversify dollar funding sources in case of contingencies.

Persons: Yuya, MUFG's, MUFG, Makiko Yamazaki, Muralikumar Anantharaman, Edwina Gibbs Organizations: Mitsubishi, REUTERS, Bancorp, Union Bank TOKYO, Mitsubishi UFJ Financial, U.S . Bancorp, U.S, MUFG, Bank, MUFG Union Bank, Thomson Locations: Tokyo, Japan, U.S, Minneapolis

☆ Mitsubishi UFJ to invest $937 mln in U.S. Bancorp
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

People queue inside a branch of the Mitsubishi UFJ (MUFJ) Financial Group's bank of Tokyo-Mitsubishi UFJ in Tokyo, Japan, February 1, 2016. REUTERS/Yuya Shino/File PhotoTOKYO, Aug 3 (Reuters) - Japan's Mitsubishi UFJ Financial Group (MUFG) (8306.T) said on Thursday it would invest $936.7 million in U.S. Bancorp (USB.N) to raise its stake in the U.S. bank to 4.4%. The payment is in connection with MUFG's $8 billion sale of its U.S. retail banking unit MUFG Union Bank to U.S. Bancorp last year. In the deal, U.S. Bancorp received $3.5 billion in additional cash held by MUFG Union Bank which the U.S. bank is required to repay. MUFG also said it has agreed with a bank subsidiary of U.S. Bancorp on U.S. dollar liquidity support to strengthen its sustainable non-Japanese yen funding capacity.

Persons: Yuya, MUFG, Makiko Yamazaki, Tom Hogue Organizations: Mitsubishi, REUTERS, Mitsubishi UFJ Financial, U.S . Bancorp, U.S, Bancorp, MUFG's, MUFG, Bank, MUFG Union Bank, Thomson Locations: Tokyo, Japan, U.S

☆ Meet Ted Pick, the hard-charging 'deal junkie' who rose to the top at Morgan Stanley the old-fashioned way — and looks poised to succeed James Gorman as CEO
▼ + stars: | 2023-08-01 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +20 min

Employees knew they were getting promoted if Pick told them to wear a tie the following day, an ex-managing director recalled. While Morgan Stanley currently trades at a premium among its Wall Street peers, its enviable success isn't thanks to Pick. Succession has traditionally been a bloody sport on Wall Street, and Morgan Stanley is no exception. Gonzalo Marroquin/Patrick McMullan via Getty Images Show less Morgan Stanley investment management head and dark horse in the race for CEO, Dan Simkowitz. Despite enjoying the stock price gains under Gorman's reign, plenty of longtime employees want another dyed-in-the-wool Morgan Stanley loyalist, according to a former senior executive.

Persons: Morgan Stanley, Ted Pick, Pick, Gucci loafers, Blackstone, Tony James, Morgan, James Gorman, Gorman, Andy Saperstein, Dan Simkowitz, John Mack, Ted, James, Phil Purcell, Mack, Purcell, Merrill Lynch, Paul Taubman, Colm Kelleher, coheads, Gonzalo Marroquin, Patrick McMullan, Saperstein, Euromoney, Parker Gilbert, He's, John, cohead, Bolu, Goldman Sachs, Pablo, tony, Betsey Kittenplan, Smith Barney, James cochairs, Jim Breyer, Anna Wintour, John Mack pranking Pick, John Waldron, Goldman, I'm, Howard Marks, Bill Parcells, atta, Brian Moynihan, aren't, David Solomon, Jamie Dimon's, Eaton Vance, he's, you've, Richard Drew, — Organizations: Employees, Archegos Capital Management, Blackstone, McKinsey, Getty, Middlebury College, China Construction Bank, Harvard Business School, Mitsubishi, Wall, Autonomous Research, Anguilla, Agricultural Bank of China, Capital Management, Metropolitan Museum of Art, Vogue, New York Rangers, Oaktree Capital Management, Bloomberg, Staten, Disney, JPMorgan, Trade, AP Locations: China, Beijing, Manhattan, New York City, Caracas, Venezuela, Brookville, tony Long

☆ Global automakers scramble to reset China strategies as sales slow
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +6 min

Global automakers, who for years have dominated the market along with their Chinese state-run partners, have been slow to pivot to the fast-growing market for EVs with competitive offerings. "This major collaboration between Volkswagen and Xpeng is a milestone for our electrification strategy 'in China for China'," said Ralf Brandstatter, a VW board member on his social media account. Their deeper pockets give established foreign automakers who are determined to fight for share in China, the ability to play a long game. Kia (000270.KS) is to enter China's EV market with its first EV, the EV6 crossover, via imports in August. "The German brands benefit from significant global scale," said He Lei, CEO of Chinese EV trading platform xChuxing.

Persons: Aly, Yale Zhang, Ralf Brandstatter, We've, Mary Barra, Tu Le, Yang Honghai, Kia, Mercedes Benz, Volkswagen's Audi, Lei, It's, Bill Russo, Automobility, Zhang Yan, Brenda Goh, Kevin Krolicki Organizations: Audi, Volkswagen, Auto, REUTERS, General Motors, Toyota, China Association of Automobile Manufacturers, Global, BMW, Mitsubishi, Automotive Foresight, GM, Reuters Graphics Volkswagen, BYD, China's Xpeng, HK, SAIC, VW, Buick, Chevrolet, Cadillac, CHINA EV INC, Tesla, China EV Inc, Volkswagen's, EV, Mitsubishi Motors, Nissan, Ford, Renault, Thomson Locations: Auto Shanghai, Shanghai, China, SHANGHAI, CHINA, Kia China, KS

NEW YORK, July 27 (Reuters) - Bill Hwang, the founder of Archegos Capital Management, on Thursday asked a judge to let him subpoena documents from 10 banks, in an effort to shift blame as he defends against criminal fraud charges that the firm's collapse was his fault. The office of U.S. Attorney Damian Williams, which is prosecuting Hwang, did not immediately respond to a request for comment. Other banks also lost money when Archegos collapsed, but less than Credit Suisse. That caused it to miss margin calls, and banks to dump stocks that had backed the swaps and which they had bought as hedges. The case is U.S. v. Hwang et al, U.S. District Court, Southern District of New York, No.

Persons: Bill Hwang, Hwang, Damian Williams, Archegos, Goldman Sachs, Jefferies, Mitsubishi UFJ, Morgan Stanley, Nomura, Alvin Hellerstein, Hwang et, Jonathan Stempel, Daniel Wallis Organizations: YORK, Archegos Capital Management, UBS, Credit Suisse, Prosecutors, Bank of Montreal, Deutsche Bank, Mitsubishi, Court, Southern District of, Thomson Locations: Manhattan, Macquarie, Mizuho, U.S, Southern District, Southern District of New York, New York

For Nissan, that means contending with an increasingly grim outlook for foreign automakers in China, the world's biggest car market. AMPERE INVESTMENTNissan said it would invest up to 600 million euros ($663 million) in Renault's electric vehicle unit, Ampere. Renault, meanwhile, will lower its stake in Nissan to 15% from around 43%, putting their relationship on equal footing. The investment in Ampere is consistent with Nissan being a strategic investor and securing a board seat on the new company, Nissan said. Nissan had flagged in February that it would invest a maximum 15% in Ampere, but the exact size of its stake remained unclear.

Persons: Gonzalo Fuentes, Makoto Uchida, AlixPartners, Nissan, Ampere, Gilles Guillame, Daniel Leussink, David Dolan, Miral Organizations: Renault, Viva Technology, Porte de, REUTERS, Investment, Nissan, Reuters, North America, Dongfeng Motor Group, Ampere, Qualcomm, Mitsubishi Motors, Thomson Locations: Porte, Paris, France, TOKYO, PARIS, Renault's, China, Japan, North, U.S

☆ Toyota's China venture dismisses some factory workers as sales fall - workers
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

The joint venture between Toyota and China's state-owned Guangzhou Automobile Group (GAC) (601238.SS) laid off the workers over the weekend and offered them compensation, said the workers, who declined to be named for privacy. The workers affected were hired by labor service companies and dispatched to work at the factory of GAC Toyota in the southern city of Guangzhou. The GAC Toyota factory has an annual output capacity of 1 million vehicles and employs around 19,000 people, according to its website. Toyota has been counting on its electric vehicle (EV) models to revive sales in China, which fell 9% in the first six months. The company joined a price war started by Tesla in January and slashed the starting price for its bZ4X EV by 15% in February.

Persons: Levin, bZ4X, Toyota's, Tesla, Zhang Yan, Brenda Goh, Mark Potter Organizations: Toyota Motor Corp, Reuters, Toyota, Guangzhou Automobile Group, GAC Toyota, GAC, Mitsubishi, China Association of Automobile Association, Thomson Locations: SHANGHAI, China, Guangzhou

☆ Toyota's China joint venture dismisses about 1000 workers
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI/TOKYO, July 24 (Reuters) - Toyota Motor's (7203.T) joint venture (JV) in China said on Monday that it has terminated early the contracts of about 1,000 dispatch workers, in a sign of pressure on automakers from a price war in the world's largest auto market. Toyota's JV in China, Guangzhou Toyota Motor Co, said in a statement to Reuters that it had prematurely terminated contracts for about 1,000 workers with labour services companies in light of recent production levels. The GAC Toyota factory has an annual output capacity of 1 million vehicles and employs around 19,000 people, according to its website. The production of Mitsubishi's new Outlander model remained suspended, Kato added, describing the conditions faced by the company in China as "severe". The company joined a price war started by Tesla in January and slashed the starting price for its bZ4X EV by 15% in February.

Persons: Levin, bZ4X, Toyota's, Takao Kato, Kato, Tesla, Zhang Yan, Brenda Goh, Daniel Leussink, Mark Potter, Sharon Singleton Organizations: Toyota, JV, Guangzhou Automobile Group, Reuters, Toyota's JV, Guangzhou Toyota Motor, GAC Toyota, Mitsubishi Motors, GAC, China Association of Automobile Association, Thomson Locations: SHANGHAI, TOKYO, China, Guangzhou, Shanghai, Tokyo

Powerchip and Japanese financial firm SBI Holdings (8473.T) earlier this month said they aim to attract government subsidies to build the plant amid a wave of investment in Japan aimed at boosting its chip manufacturing capabilities. "I think about five to seven years... it depends on the business," Joe Wu, President of PSMC Japan, told Reuters when asked about the timing for a potential listing. Powerchip said it sees scope for additional foundry capacity in Japan, which has seen a lack of investment. The Taiwanese firm previously set up a joint venture in China to build a chip factory which listed in Shanghai this year. Powerchip and SBI hope to attract additional funds for the Japan business and are targeting chip industry customers and financial investors as potential backers, Wu said.

Persons: Powerchip, Joe Wu, Wu, Sam Nussey, Miho Uranaka, Elaine Hardcastle Organizations: Powerchip Semiconductor Manufacturing Corp, SBI Holdings, Reuters, Companies, Renesas Electronics, Mitsubishi Electric, Taiwan Semiconductor Manufacturing, Sony Group, Denso Corp, Powerchip, Thomson Locations: TOKYO, Taiwan, Japan, Kyushu, China, Shanghai

☆ Morgan Stanley and MUFG’s next act is well-timed
▼ + stars: | 2023-07-19 | by ( Una Galani | ) www.reuters.com time to read: +3 min

Morgan Stanley (MS.N) and the $94 billion Mitsubishi UFJ Financial (8306.T) are tapping deeper into a good thing at the right time. As well as collaborating on foreign exchange trading, Morgan Stanley and MUFG will now integrate the institutional Japan equities business by consolidating research and institutional sales into Morgan Stanley’s joint venture entity. It’s a bright backdrop for Morgan Stanley and MUFG’s partnership. Follow @ugalani on TwitterCONTEXT NEWSMorgan Stanley and Mitsubishi UFJ Financial on July 18 announced plans to deepen their 15-year alliance, including in foreign exchange trading and in Japanese research and equities businesses for institutional clients. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Morgan Stanley, MUFG, James Gorman, Ohta, Morgan, isn’t, Morgan Stanley’s, Antony Currie, Thomas Shum Organizations: Reuters, Wall, Mitsubishi UFJ, MUFG, Sumitomo Mitsui Financial, Jefferies, Tokyo Stock Exchange, Mitsubishi UFJ Financial, Thomson Locations: MUMBAI, U.S, Japan

Under the framework, the Japanese automaker would take as much as 15% of Renault's new electric vehicle unit, Ampere, while Renault would reduce its 43% stake in Nissan. The delay shows how the latest tension at the top of the Japanese automaker has complicated a drive to bring the decades-long relationship with Renault to a more equal footing. After the automaker was pitched into turmoil by the ouster of former Chairman Carlos Ghosn, Nissan executives sought to rebalance the alliance he built. We will make a statement in due course when the agreements are concluded," the Japanese automaker said in a statement. Nissan and Renault's junior partner, Mitsubishi Motors, has also indicated it may invest in the company.

Persons: Ampere, Carlos Ghosn, Makoto Uchida, Ashwani Gupta, Gupta, Maki Shiraki, Daniel Leussink, Kevin Krolicki, David Dolan Organizations: Nissan, Renault, Reuters, Mitsubishi Motors, Qualcomm, Mitsubishi, Thomson Locations: TOKYO, U.S

Under the framework, the Japanese automaker would take as much as 15% of Renault's new electric vehicle unit, Ampere, while Renault would reduce its 43% stake in Nissan. That timeline was extended when senior Nissan executives and some directors challenged detailed provisions of deal, citing the need to better protect Nissan's intellectual property, Reuters has reported. Nissan executives sought to rebalance the alliance built by former Chairman Carlos Ghosn after his ouster sent the automaker into turmoil. While the size of the investment ultimately hinges on the value of Ampere, Nissan is likely to take less than 10%, one of them said. By closing out the restructured Renault deal, Nissan executives have the opportunity to pivot to other challenges, including a medium-term strategy update and a change in approach to China, where Nissan's sales, and those of other global automakers, are in decline.

Persons: Ampere, Carlos Ghosn, Makoto Uchida, Ashwani Gupta, Gupta, Maki Shiraki, Daniel Leussink, Kevin Krolicki, David Dolan, Christian Schmollinger, Sharon Singleton Organizations: Renault, Nissan finalise, Nissan, TOKYO, Reuters, Mitsubishi Motors, Qualcomm, Mitsubishi, Thomson Locations: U.S, China

☆ Toshiba, General Electric to build offshore wind equipment supply chain in Japan-Nikkei
▼ + stars: | 2023-07-15 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 15 (Reuters) - Japan's Toshiba (6502.T) plans to establish a domestic supply chain for offshore wind power equipment together with U.S. manufacturer General Electric (GE.N), Nikkei reported on Saturday, as Japan is expanding in renewable energy in a zero-carbon push. Japan's offshore wind power market is set to grow as the government aims to install up to 10 gigawatts (GW) of offshore wind capacity by 2030, and up to 45 GW by 2040, as part of its decarbonisation push. Last month, the government finished accepting bids for the second round of offshore wind power tenders to build 1.8 GW of capacity in four areas, with results yet to be announced. According to Nikkei, the equipment supply chain would involve around 100 small and medium-sized companies with focus on the areas where offshore wind capacity should be installed. In 2021, Toshiba and GE announced a strategic partnership to localise GE's Haliade-X offshore wind turbines manufacturing in Japan, as the U.S. company wants its technology to be as competitive as possible in Japan's offshore wind auctions.

Persons: localise GE's, Katya Golubkova, Michael Perry Organizations: Toshiba, Nikkei, Mitsubishi, GE, U.S ., Japan Wind Power Association, Thomson Locations: TOKYO, Japan, U.S

☆ Mazda says needs China strategy overhaul to catch up with market
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

TOKYO, July 14 (Reuters) - Japan's Mazda Motor (7261.T) needs to overhaul its strategy in China, the world's biggest auto market, where it faces increasingly tough competition from domestic players, the automaker's chief executive said on Friday. CEO Masahiro Moro said business conditions for Mazda in China, where it has a joint venture with Chongqing Changan Automobile (000625.SZ) and China FAW, would become increasingly tough over the coming year to 18 months. Its sales in China peaked in 2016 at just over 316,000 vehicles, separate industry data showed. Mazda is not alone in finding the Chinese market increasingly tough. Looking beyond China, Moro said if Mazda were to begin EV production in North America, it would happen after 2027, which marks the end of the middle phase of its business plan for this decade.

Persons: Masahiro Moro, Moro, Daniel Leussink, Jason Neely, Kim Coghill, Barbara Lewis Organizations: Mazda, Chongqing Changan Automobile, China FAW, Mitsubishi Motors, Guangzhou Automobile Group, Toyota Motor, Thomson Locations: TOKYO, China, Chongqing, North America, Huntsville , Alabama

☆ Nissan to invest some $725 mln in Renault's EV unit, Yomiuri says
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 14 (Reuters) - Nissan Motor (7201.T) is likely to invest around 100 billion yen ($725 million) in Renault's (RENA.PA) new electric vehicle unit, the Yomiuri Shimbun said on Friday, potentially clearing a hurdle in drawn-out talks to reshape their automaking alliance. The Japanese automaker on Thursday settled on the terms for a contract to overhaul its partnership with Renault and agreed with its French partner on the investment amount in the EV unit, Ampere, the Yomiuri said. A Nissan spokesperson said discussions about the contract, including the investment amount, were not yet finalised. That would be short of the 15% maximum Nissan set in February for the investment. ($1 = 138.0200 yen)Reporting by Daniel Leussink and Elaine Lies; Editing by Chris Reese and David DolanOur Standards: The Thomson Reuters Trust Principles.

Persons: Ampere, Daniel Leussink, Elaine Lies, Chris Reese, David Dolan Organizations: Nissan, Yomiuri Shimbun, Renault, EV, Yomiuri, Mitsubishi Motors, Thomson Locations: TOKYO, Renault's

☆ Analysis: BOJ in a bind as price pressures heighten case for early policy tweak
▼ + stars: | 2023-07-14 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

But there's no clarity on what the final decision would be," said one of the sources on the chance of a policy shift in July. Lately, however, BOJ policymakers been dropping signs that inflation is being increasingly driven by improving consumer demand. CREDIBILITY ON LINEThere is no consensus within the BOJ on how soon it should start dialing back stimulus. Proponents of early action point to the rising cost of YCC, such as market distortions caused by the BOJ's huge bond buying. "A July policy tweak would contradict the logic the BOJ had been using to justify keeping easy policy," said Naomi Muguruma, senior market economist at Mitsubishi UFJ Morgan Stanley Securities.

Persons: Kazuo Ueda's reassurances, Ueda, Naomi Muguruma, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Leika Kihara, Kim Coghill Organizations: Bank of, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, Tokyo, Thomson Locations: TOKYO, Bank of Japan

☆ Mitsubishi's China venture with GAC to cut staff costs after SUV sales dive
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +3 min

[1/2] The logo of Mitsubishi Motors Corp is seen at a showroom of the company's headquarters in Tokyo, Japan November 26, 2018. REUTERS/Toru HanaiBEIJING/SHANGHAI, July 13 (Reuters) - Mitsubishi Motors' (7211.T) joint venture with China's Guangzhou Automobile Group (GAC) (601238.SS) on Thursday said it would cut staff costs to try to revive its fortunes after sharp sales declines for sport utility vehicles (SUV) such as the Outlander. The joint venture, known as GAC Mitsubishi Motors, was launched by GAC, Mitsubishi Motors and trading house Mitsubishi Corp (8058.T) in 2012, focusing on SUV sales in China. The announcement follows mounting pressure on the joint venture that makes Mitsubishi's Outlander model. Mitsubishi's sales in China peaked in 2018, when it recorded sales of over 141,000 vehicles, according to industry data.

Persons: Toru Hanai, Mitsubishi, AlixPartners, Kevin Krolicki, Shri Navaratnam, Mark Potter Organizations: Mitsubishi Motors Corp, REUTERS, Mitsubishi Motors, China's Guangzhou Automobile Group, GAC, GAC Mitsubishi Motors, Mitsubishi Corp, Mitsubishi, Hyundai, Beijing, Thomson Locations: Tokyo, Japan, Toru Hanai BEIJING, SHANGHAI, ., China

☆ Smart girls don’t marry? Japan rushes to erase stigma for women in science
▼ + stars: | 2023-07-12 | by ( Mariko Katsumura | ) www.reuters.com time to read: +5 min

[1/3] Yuna Kato works with male students at her college club to produce a light human-powered aircraft at the school, at Tokyo University in Tokyo, Japan June 30, 2023, in this screen grab from video. Kato has made it this far, but many aspiring female engineers choose a different path due to the social stigma, creating a massive headache for Japan. That is despite Japanese girls scoring second-highest in the world in maths and third in science, according to the OECD. School officials felt women were more likely to quit working after having children and would waste their education. NO DIVERSITY, NO INNOVATIONMore schools and companies including Mitsubishi Heavy Industries (7011.T) and Toyota (7203.T) are offering scholarships to female STEM students to attract talent.

Persons: Yuna Kato, Chris Gallagher TOKYO, Kato, Li, It's, Minoru Taniura, Kyoko Ida, ichi, we've, Mariko Katsumura, Mayu Sakoda, Rocky Swift, Chang, Ran Kim, Sonali Paul Organizations: Tokyo University, REUTERS, OECD, Reuters, Kato's Tokyo Institute of Technology, Mitsubishi Heavy Industries, Toyota, Mitsubishi, Panasonic, Thomson Locations: Tokyo, Japan, Mazda's

☆ Geely, Renault strike deal to develop gasoline engines, hybrid technology
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Geely logo is seen at a car dealership in Shanghai, China August 17, 2021. REUTERS/Aly SongJuly 11 (Reuters) - China's Geely Automobile Holdings (0175.HK) and French car maker Renault SA (RENA.PA) on Tuesday said they will invest up to 7 billion euros ($7.71 billion) in a new equally held joint venture to develop gasoline engines and hybrid technology for automobiles. The JV aims to have an annual production capacity of up to five million internal combustion, hybrid and plug-in hybrid engines and transmissions, Renault added. Saudi Aramco (2222.SE), which signed a letter of intent with Renault and Geely in March, is evaluating a strategic investment in the new company, Renault said. Big oil firms have worked with automakers to develop sustainable fuels and hydrogen engines in recent years.

Persons: Aly Song, Eric Li, Harish Sridharan, Nivedita Bhattacharjee, Eileen Soreng Organizations: REUTERS, Geely Automobile Holdings, HK, Renault SA, Geely Holding, Renault, Volvo, Proton, Nissan, Mitsubishi Motors, Torino, JV, Reuters, Saudi Aramco, Geely, Aramco, Thomson Locations: Shanghai, China, Saudi, Bengaluru

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