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Category: Automotive

Retail News Asia is committed to providing both local and global retailers with the latest Auto and Car news throughout the Asian market. This on a daily base.

  • Hyundai Motor bets on new small SUV as China sales skid

    Hyundai Motor bets on new small SUV as China sales skid

    Hyundai Motor unveiled its first subcompact sport utility vehicle Kona for advanced markets, including the United States, Europe and South Korea, as it tries to offset sliding sales in China and catch up with rivals in the segment.

    The South Korean automaker said it would also launch an electric version of the Kona small sport utility vehicle (SUV) next year and a smaller SUV and a large SUV by 2020.

    This comes at a time when Hyundai looks set to miss its sales target for a third straight year due to the unpopularity of its mainstay small sedans and political tensions between Beijing and Seoul that have battered sales in China, the company’s biggest market.

    Hyundai, which together with its affiliate Kia is the world’s No.5 automaker, previously sold subcompact SUVs only in emerging markets, missing out on strong growth in the segment in South Korea, the United States and Europe.

    The subcompact SUV is the top-performing segment globally, growing at an annual average of 46 percent from 2010 to 2016, Hyundai said, citing IHS Automotive data.

    “Even as the global SUV market is nearing saturation, we believe that extra small or small SUVs have more room for growth than large SUVs,” Hyundai Motor Co Vice Chairman Chung Eui-sun said during a launch event near Seoul.

    The automaker launched the Kona in South Korea on Tuesday, and said it would roll out the small SUV in Europe in August and the United States in December. It aims to sell over 200,000 of the vehicles globally next year.

    The Kona will compete with Nissan’s Juke and Honda’s CR-V in the United States.

    Hyundai and Kia in January said they aimed to increase global sales by 5 percent this year, but their combined sales fell 7 percent over January to May, hit by slowing Chinese and U.S. sales.

    “Our sales plan has suffered a setback, but we will use this as an opportunity to overhaul our products,” said Chung, the only son of Hyundai Motor Group Chairman Chung Mong-koo.

    He also said Hyundai would beef up cooperation with technology firms like Cisco, Baidu and Uber instead of buying other automakers.

    Kia will join Hyundai in the launch of the former’s subcompact SUV, Stonic, starting next month.

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  • Tesla Model X electric cars to hit Indonesian roads

    Tesla Model X electric cars to hit Indonesian roads

    Indonesians can now purchase US-made Tesla Model X electronic luxury cars with price tags starting from US$200,000. Prestige Image Motorcars, the sole Tesla motor car distributor in Indonesia, began exhibiting one of the cars at its showroom in Pluit, North Jakarta, on Tuesday.

    Prestige president director Rudy Salim said his company started receiving orders for the car in June with deliveries, beginning in September.

    “Tesla cars have good prospects in the Indonesian market, considering they are not the most expensive among the super cars in the country,” Rudy said.

    Each Telsa cars is equipped with a battery that supports up to 350 kilometers of travel, much more than Indonesians generally needed, Rudy said.

    A director of the Association of Indonesian Automotive Manufacturers (Gaikindo), Jongkie Sugiarto, said that Tesla cars would have their own fans in Indonesia.

    However, he said, luxury cars belonged to a specific and limited market, which did not grow significantly.

    According to Gaikindo, the domestic sales of diesel and petrol cars in the first four months of the year increased by 5.71 percent to 373,407 from 352,072 in the same period of 2016.

    Tesla Inc. of the United States was quoted by Reuters as saying in April 2 that its first-quarter vehicle deliveries jumped by 69 percent to 25,000 vehicles compared to the same period last year.

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  • Electric vehicles reach 2 million cars in 2016

    Electric vehicles reach 2 million cars in 2016

    The number of electric cars on the roads around the world rose to 2 million in 2016, following a year of strong growth in 2015, according to the latest edition of the International Energy Agency’s Global EV Outlook.

    China remained the largest market in 2016, accounting for more than 40% of the electric cars sold in the world. With more than 200 million electric two-wheelers and more than 300,000 electric buses, China is by far the global leader in the electrification of transport. China, the US and Europe made up the three main markets, totalling over 90% of all EVs sold around the world.

    In Norway, electric cars had a 29% market share last year, the highest globally, followed by the Netherlands with 6.4%, and Sweden with 3.4%. The electric car market is set to transition from early deployment to mass market adoption over the next decade or so, says the Global EV Outlook.

    Between 9 and 20 million electric cars could be deployed by 2020, and between 40 and 70 million by 2025, according to estimates based on recent statement from carmakers.

    Still, electric vehicles only made up 0.2% of total passenger light-duty vehicles in circulation in 2016. They have a long way to go before reaching numbers capable of making a significant contribution to greenhouse gas emission reduction targets.

    In order to limit temperature increases to below 2°C by the end of the century, the number of electric cars will need to reach 600 million by 2040, according to IEA’s Energy Technology Perspectives. Strong policy support will be necessary to keep EVs on track.

    Cities are taking leadership roles in encouraging EV adoption, often because of concerns about air quality. Major urban centres often achieve higher EV market shares compared to national averages. A third of global EV sales took place in 14 cities in 2015.

    Paris, for instance, has mandated that any electric car is allowed to re-charge at the re-charge stations of its car-sharing program, called Autolib.

    Amsterdam has a strategy of offering the installation of charging points on public parking spaces to people who make a request, ensuring that charging infrastructure is installed where it’s actually needed. London for its part encourages EV adoption by waiving its congestion charge.

    The analysis shows that fleet procurement is an important means of encouraging early EV uptake. Fleet operators, both public and private, can contribute significantly to the deployment of EVs, first from demand signals that they send to the market, and second thanks to their broader role as amplifiers in promoting and facilitating the uptake of EVs by their staff and customers.

    Clear and ambitious policy support is vital to keep the growth of EVs on track. Despite impressive improvements in costs and energy density over the past decade, battery packs are still expensive, driving up retail prices. Financial incentives for EV adoption and taxes on fossil fuels will continue to be important in the current phase of EV technology deployment to initiate and reinforce a positive feedback loop that, through increasing sales, production scale-ups and technology learning, will further support cost reductions for batteries and other components.

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  • Tata Motors global sales decline 1 per cent in May

    Tata Motors global sales decline 1 per cent in May

    Tata Motors today reported over 1 per cent decline in global sales in May at 86,385 units, including that of Jaguar Land Rover (JLR) vehicles.

    The company had sold 87,414 units in May 2016, Tata Motors said in a statement.

    In the passenger vehicles category, global sales stood at 58,075 units last month as against 55,039 units during the same period in 2016, up 6 per cent.

    Sales of luxury brand Jaguar Land Rover grew 2 per cent to 47,131 units in May compared to 46,204 units in the same month of 2016.

    However, sales of commercial vehicles declined by 13 per cent to 28,310 units as against 32,375 units in the year-ago month.

  • Indonesia May motorbike sales up 15.2% yoy

    Indonesia May motorbike sales up 15.2% yoy

    Motorcycle sales in Indonesia rose 15.2% in May from a year earlier, data from an industry association showed on Monday.

    These sales are also the highest growth rate since August 2014.

    Sales stood at 531,496 motorbikes in May, up from 461,506 sold in the year-ago period.

    It was also higher than the 388,045 bikes sold in April. Motorbikes are hugely popular in Southeast Asia’s biggest economy and their sales are a key indicator of consumption.

    Sales in May were led by Honda Motor , Yamaha Motor Co Ltd and Suzuki, data showed.

  • Automakers diverge on how fast to deploy automatic braking

    Automakers diverge on how fast to deploy automatic braking

    Big automakers are rushing to launch self-driving cars as early as 2021, but the industry’s major players are moving slowly when it comes to widespread deployment of a less expensive crash prevention technology that regulators say could prevent thousands of deaths and injuries every year.

    Nissan Motor said on Thursday it would make automatic braking systems standard on an estimated 1 million 2018 model cars and light trucks sold in the United States, including high-volume models such as the Rogue and Rogue Sport compact sport utility vehicles, the Altima sedan, Murano and Pathfinder SUVs, LEAF electric car, Maxima sedan and Sentra small car.

    Rival Toyota Motor has said it will make so-called automatic emergency braking standard on nearly all its U.S. models by the end of this year.

    Overall, however, most automakers are not rushing to make automatic brake systems part of the base cost of mainstream vehicles sold in the competitive U.S. market. The industry has come under pressure from regulators, lawmakers and safety advocates to adopt the technology, which can slow or stop a vehicle even if the driver fails to act.

    So far, only about 17 percent of models tested by the Insurance Institute for Highway Safety offered standard collision-avoiding braking, according to data supplied by the auto safety research group backed insurance industry. Many of the models with standard collision-avoiding brake systems are luxury vehicles made by European or Japanese manufacturers.

    The systems require more sensors and software than conventional brakes, and automakers said they need time to engineer the systems into vehicles as part of more comprehensive makeovers.

    Last year, 20 automakers reached a voluntary agreement with U.S. auto safety regulators to make collision-avoiding braking systems standard equipment by 2022.

    Safety advocates have petitioned the National Highway Traffic Safety Administration to begin a regulatory process to require the technologies, but the agency has said the voluntary agreement will result in faster deployment than a formal rule-making process. NHTSA says the technology could eliminate one-fifth of crashes.

    “Do the math. That’s 5 million crashes every year – 20 percent reduction means 1 million less. Those are big numbers,” Mark Rosekind, the NHTSA’s then-administrator, told last year.

    But customers would likely experience the benefits of the technology infrequently. The technology to enable a car to drive itself is far more costly, but industry executives foresee autonomous vehicles driving revenue-generating transportation services that could be attractive to investors.

    General Motors Co (GM.N) offers automatic braking as optional equipment on about two-thirds of its models. The company did not say on Thursday how many vehicles have the technology as standard equipment. GM has not made public its plans to make the technology standard across its lineup.

    “Any time you have a voluntary agreement you have a spectrum of implementation,” Jeff Boyer, GM’s vice president for safety, told Reuters earlier this week. Asked when GM would roll out standard automatic braking, Boyer said, “let’s just say we honor the voluntary commitment.”

    Ford Motor “has a plan to standardize over time,” the company said in a statement on Thursday. Currently, automatic braking systems are optional on several 2017 Ford and Lincoln models, and will be offered on certain 2018 models including the best-selling F-150 pickup truck.

    Fiat Chrysler Automobiles offers automatic braking as optional equipment in nine model lines, using cameras and radar to detect hazards ahead. The company has said it will meet the 2022 target for making the systems standard.

    As 2018 models roll out during the second half of this year, more vehicles will offer automatic braking, said Dean McConnell, an executive with Continental AG’s North American business. Continental’s automatic braking technology systems will be on certain Nissan models.

    “We see it accelerating,” he said. “It varies. There are some (automakers) that are being aggressive” and others that are waiting.

    Nissan did not disclose how much prices for vehicles would rise to offset the cost of standard automatic emergency braking. The 2018 models will be launched later this year. Currently, Nissan, like most carmakers, offers automatic braking as part of a bundle of optional safety and technology features.

    A 2017 Nissan Sentra compact sedan has a starting price of $17,875. To buy the car equipped with automatic braking requires spending another $6,820 for a Sentra SR with a premium technology package.

    German auto technology suppliers Continental and Robert Bosch will supply the systems, Nissan said.

  • Renault plans foray into energy market with mega battery

    Renault plans foray into energy market with mega battery

    Renault-Nissan is drawing up plans to build a 100 megawatt power storage plant in Europe, sources told Reuters, hoping to give electric car batteries a second life in a project that could eventually compete with utility companies.

    Like rival Tesla’s energy storage business, the Renault-Nissan move underscores its desire to cultivate a second-hand battery market while encouraging the development of energy infrastructure that works for electric cars.

    The Renault-Nissan alliance plant, which has yet to be built, would be big enough to power 120,000 homes, or supplant the role of a gas- or coal-fired power station in meeting peak electricity demand on the grid, the sources said.

    Rather than generating power, a storage plant charges up in times of excess supply and sells electricity back to the grid when needed. Proponents say such plants can play a key role in smoothing out unpredictable wind and solar power generation.

    Renault-Nissan is working in partnership with energy storage specialist The Mobility House on the mega battery which would be assembled from new or used electric car batteries, one of the sources said.

    “We’re working with The Mobility House on several programs including a major energy storage project that is currently still in the study phase,” Renault spokeswoman Celine Farissier said, declining to give further details.

    Makers of electric cars stand to benefit from the creation of a market for used lithium-ion batteries that can no longer power vehicles to drive far enough. Higher second-hand battery values could help bring down the cost of electric cars and mega batteries are one avenue for recycling the power cells.

    Nissan, 44 percent-owned by French alliance partner Renault, has already built a back-up power storage system for the Amsterdam Arena, which is home to soccer club Ajax, in a first partnership with the German start-up.

    Marcus Fendt, its managing director, said the Munich-based company was working on a 100 MW plant with partners he declined to identify, citing confidentiality agreements. He said the studies were aimed at determining where to build the plant.

    Locations and end markets under consideration for the Renault-Nissan plant include Germany, which is suitable because of its high energy prices and its shift from nuclear to renewable energy, as well as the Netherlands, sources said.

    CARMAKING UTILITIES

    Renault-Nissan studied an existing power storage project in the United States before embarking on its own plan to recycle electric car batteries.

    California’s Public Utilities commission selected a 100 MW battery storage system to replace a natural-gas power plant providing electricity for Southern California Edison in the Los Angeles area.

    Large batteries can help stabilize the primary reserve electricity market, which is responsible for ensuring the grid has at least 50 Hertz. Carmakers can also earn money competing with conventional power stations to guarantee the provision of electricity during periods of high demand or volatility.

    “We forecast the combined market for electric passenger vehicles, electric buses and battery storage to increase eight-fold to over $200 billion by 2020, a five-year compound annual growth rate of more than 50 percent,” Berenberg analysts said.

    With about 4 million electric cars expected to be on the roads by 2020, vehicle manufacturers looking at ways to recycle batteries, including Tesla, which already sells everything from solar panels to batteries and electric cars.

    Daimler, BMW, Volkswagen and China’s BYD Co Ltd are also exploring so-called second-life storage projects with batteries.

    That includes partnerships such as the recent collaboration between BMW and Vattenfall, in which the luxury automaker will deliver up to 1,000 lithium-ion batteries to the Swedish utility for storage projects this year.

    “What will end up happening is that BMW and Daimler will become utilities themselves,” said Gerard Reid, founder of Alexa Capital LLP, a corporate advisor in the energy, power infrastructure and technology sectors.

    “They use Vattenfall now because they need to learn but I think the amount of batteries coming back will be so big that I think they’ll end up engaging directly with the end customer themselves. And they’ve got the brand name to do that.”

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  • Honda to focus on self-driving cars, robotics, EVs through 2030

    Honda to focus on self-driving cars, robotics, EVs through 2030

    Japanese carmaker Honda Motor on Thursday spelled out for the first time its plans to develop autonomous cars which can drive on city streets by 2025, building on its strategy to take on rivals in the auto market of the future.

    Unveiling its mid-term Vision 2030 strategy plan, Honda said it would boost coordination between R&D, procurement and manufacturing to tame development costs as it acknowledged it must look beyond conventional vehicles to survive in an industry which is moving rapidly into electric and self-driving cars.

    Honda has already spelled out plans to market a vehicle which can drive itself on highways by 2020, and the new target for city-capable self-driving cars puts its progress slightly behind rivals like BMW.

    “We’re going to place utmost priority on electrification and advanced safety technologies going forward,” Honda CEO Takahiro Hachigo said.

    Developing new driving technologies, robotics- and artificial intelligence-driven services and new energy solutions also would be key priorities for Honda in the years ahead, the company said.

    LEVELING UP

    Honda established a division late last year to develop electric vehicles (EVs) as part of its long-held goal for lower-emission gasoline hybrids, plug-in hybrids, EVs and hydrogen fuel cell vehicles (FCVs) to account for two-thirds of its line-up by 2030, from about 5 percent now.

    By 2025, Honda plans to come up with cars with “level 4” standard automated driving functions, meaning they can drive themselves on highways and city roads under most situations.

    Achieving such capabilities will require artificial intelligence to detect traffic movements, along with a battery of cameras and sensors to help avoid accidents.

    BMW has said it would launch a fully autonomous car by 2021, while Ford Motor has said it will introduce a vehicle with similar capabilities for ride-sharing purposes in the same year. Nissan Motor is planning to launch a car which can drive automatically on city streets by 2020.

    Honda has been ramping up R&D spending, earmarking a record 750 billion yen ($6.84 billion) for the year to March.

  • All terrain Michelin LTX Force SUV tyres launched in India

    All terrain Michelin LTX Force SUV tyres launched in India

    Tyre maker Michelin has today announced the availability of Michelin LTX Force range of SUV tyres in India. Designed for all types of terrain, Michelin LTX Force tyres offer durability, superior grip on-road and higher traction off-road, claims the company statement.

    The introduction of this new range in India helps the company further strengthen its product portfolio.

    Mohan Kumar, Commercial Director, Michelin India said, “The SUV market is one of the fastest growing segments in India. Industry estimates indicate one in four vehicles sold last year was an SUV and as more Indians opt for SUV’s, this segment is estimated to continue growing, both in cities and upcountry towns. Our LTX Force is an all-rounder and is ideal for SUV owners who regularly use their vehicle on both paved and unpaved road.”

    ” Innovation is at the heart of our product development and this tyre is a perfect example of it, where we showcase a seamless transformation from track to road. By using this range, the SUV users in India will benefit from the international technology that has enjoyed numerous podium finishes at grueling all terrain competitions such as Rally WRC.” he added.

    Michelin LTX Force uses compact tread technology which takes advantage of two contradictory performances: durability plus grip. The tread pattern inspired by endurance races is designed to provide a greater contact area thanks to higher tread blocks which favours both durability and traction.

    The comoany claims that the tyres are a result of tried and tested motorsport technologies

    Motorsport offers the ideal proving ground for Michelin to test tyres in the most extreme conditions. Michelin LTX Force tyre is yet another example of our from track to road philosophy. These tyres have been tested in extreme mining conditions to ensure off-road traction and robustness.

    The Michelin LTX Force range tyres are available nationally at Michelin premium dealerships – the Michelin Priority Partners, the TYREPLUS network and Michelin retailers.

  • Jaguar Land Rover overall retail sales up 1.2 pct in May

    Jaguar Land Rover overall retail sales up 1.2 pct in May

    Jaguar Land Rover says overall retail sales for Jaguar Land Rover were 45,487 in May, up 1.2 percent year-on-year.

    Jaguar Land Rover says Jaguar May sales were 13,613 vehicles, up 28 percent year-on-year. Jaguar Land Rover says Land Rover retailed 31,874 vehicles in May, down 7.1 percent year-on-year.

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  • Auto Expo 2017 opens in Hanoi

    Auto Expo 2017 opens in Hanoi

    Domestic auto assemblers and parts suppliers are showcasing their latest products at the 14th International Automobile and Supporting Industries Exhibition (Auto Expo 2017), which opened in Hanoi today.

    The four-day event, sponsored by the Ministry of Industry and Trade (MoIT), is being held at theHanoi International Exhibition Centre by the MoIT’s Industry Policy and Strategy Institute (IPSI) and the Vietnam Society of Automotive Engineers (VSAE).

    The expo has around 450 booths that have on display a wide range of vehicles, including passenger cars, buses, trucks, vans, vehicles for special purposes such as those serving construction, mining, agricultural, military, medical and hygiene activities, as well as two-wheelers such as scooters, motorcycles and electric bikes.

    With an exhibition space spanning 10,000sq.m, the expo also showcases spare parts and components for producing, manufacturing and assembling automobiles, motorbikes and other vehicles. On display are technologies in moulding, welding, plating, painting, automobile interior decor and toys; maintenance and repair equipment; measurement and diagnosis systems; as well as transportation rescue vehicles and devices.

    At the event, exhibitors have introduced services such as garage services, banking and insurance services, and consultative and assistance services for activities related to vehicle manufacturing and trading.

    In addition to the participation of local auto firms such as Vietnam Engine and Agricultural Machinery Corporation (VEAM), CAMC Việt Nam and Vietnam Machine Investment Development JSC (VIMID), the exhibition has also attracted foreign manufacturers and companies from the US, Japan, Thailand, South Korea, mainland China, Taiwan and Malaysia.

    Speaking at the opening ceremony of the exhibition, Deputy Minister of Industry and Trade Đỗ Thắng Hải said the expo would bring more business opportunities for auto firms, help them connect with the auto market and provide a favourable environment for enterprises looking for clients.

    In 2016, the Vietnamese auto market sold around 300,000 cars, up 24 per cent over the previous year, of which the sales of commercial vehicles and special purpose vehicles increased by 25 per cent and 33 per cent, respectively. In the first quarter of 2017, the auto market sold around 65,000 vehicles, a year-on-year increase of 8 per cent.-

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  • Lamborghini prepares for a new chapter

    Lamborghini prepares for a new chapter

    On the basis that Italian is the official language of fast, beautiful cars, Lamborghini’s unabashed use of the word ibrido (hybrid) at the launch of its latest concept should silence any petrol hearts out there still in denial that the world has seen the last of gas-chugging/carbon-spewing supercars. That said, even in the world of hybrid F1 and Le Mans cars, LaFerraris and Porsche 918s, it does still seem slightly bizarre to be contemplating a Lamborghini hybrid, even if it is now 17 years since the Mk I Toyota Prius.

    You get the sense that it’s a slightly bizarre experience for Lamborghini also; the concept, called Asterion, doesn’t have the reckless swagger we’ve come to expect of Lamborghini. This, says the company’s suave CEO Stephan Winkelmann, is deliberate; the Asterion is not designed to chase, thrills, lap times and the tails of the LaFerrari and the 918. Instead its ibrido powertrain is programmed to deliver a less visceral experience than the V12 Aventador and V10 Huracan. It is, says Winkelman, more of a GT.

    Filippo Perini, head of design at Lamborghini, last year completed a full cycle of new cars with the Huracan, which replaced the Gallardo designed by his predecessor Luc Donckerwolke (now at VW Group’s Bentley label).

    The 2011 Aventador now looks in retrospect the high water mark for Lamborghini’s intensely geometric phase; the Huracan is visibly softer and the Asterion softer still. It still has the ability to shock, mind you. In profile it appears to carry a lot of weight between the cabin and the rear wheels, as the 1976 Silhouette did (there are shades of another ‘70s supercar in there also; the De Tomaso Pantera) Is this Perini getting hip to the ‘70s supercar revival or is he trying to tell us there is something different going on in there?

    The powertrain uses the Huracan’s 5.2-litre V10, here rated at just over 600bhp. However the Asterion has no less than three electric motors, one for each front wheel and another between the V10 and the seven-speed transmission. Together they can add nearly 300bhp more to the output, taking it close to 900bhp maximum and, of course, four wheel drive. The electrical power is stored in a lithium ion battery pack that sits along the spine of the car, where the mechanical drive for the front wheels would normally be. Engineering wise the Asterion is based on the carbon fibre and aluminium structure of the Huracan; philosophically the hybrid layout is borrowed from yet another VW label, Porsche.

    Lamborghini is running something of a deficit when it comes to turning concepts into reality. The Estoque four-door was shown in Paris six years ago now and is presumed dead. The Urus SUV (first shown in China two years ago) has been confirmed for production, although no date has yet been given. The Asterion’s rear-heavy profile has an echo of the Urus concept and you wouldn’t want to bet against the SUV using some kind of ibrido powertrain; the longer the wait, the more dated the idea of an old-school Lamborghini SUV seems.

  • Toyota working on ‘flying car’, Lexus luxury ‘yacht’

    Toyota working on ‘flying car’, Lexus luxury ‘yacht’

    A startup backed by the Japanese automaker has developed a test model that engineers hope will eventually develop into a tiny car with a driver who’ll be able to light the Olympic torch in the 2020 Tokyo games. For now, however, the project is a concoction of aluminum framing and eight propellers that barely gets off the ground and crashes after several seconds.

    Toyota has invested 42.5 million yen ($386,000) in startup Cartivator Resource Management to work on ” Sky Drive .” At a test flight Saturday in the city where the automaker is based, the gadgetry, about the size of a car and loaded with batteries and sensors, blew up a lot of sand and made a lot of noise.

    It managed to get up as high as eye level for several seconds before tilting and falling to the ground. Basketballs attached to its bottom served as cushions. After several attempts, the endeavor had to be canceled after one of the covers got detached from the frame and broke, damaging the propellers.

    The goal of Cartivator’s is to deliver a seamless transition from driving to flight, like the world of “Back to the Future,” said the project’s leader Tsubasa Nakamura.

    “I always loved planes and cars. And my longtime dream was to have a personal vehicle that can fly and go many places,” he told.

    The group is now working on a better design with the money from Toyota with the plan to have the first manned flight in 2019. No one has ridden on Sky Drive yet, or any drone, as that would be too dangerous.

    Still, dabbling in businesses other than cars is Toyota’s trademark. In recent years, it has been aggressively venturing into robotics and artificial intelligence, investing a billion dollars in a research and development company in Silicon Valley. It’s also working in Japan on using robotics to help the sick walk. It also just announced a five-year $35 million investment in its research center in Ann Arbor, Michigan, for autonomous and connected vehicle technologies.

    The idea that each generation must take up challenges is part of Toyota’s roots, said auto analyst Takaki Nakanishi.

    President Akio Toyoda’s great-grandfather Sakichi Toyoda started out developing the loom and then its automated improvements from the 1890s, before the company became an automaker. More recently, Toyota sees software and services as central to the auto industry, as cars become connected, start driving themselves and turn into lifestyle digital tools, Nakanishi said.

    As Toyota gets into the business of ecological vehicles, such as hybrids, electric cars and fuel cells, it’s turning into an energy company as well.

    “Toyota’s business is centered on mobility, anything that moves, including people, things, money, information, energy,” said Nakanishi.

    Toyota is traveling not only in the skies but also to the waters, although that still remains a tiny part of its sprawling empire.

    Toyota’s boat operations began in 1997. Toyota now offers four models and has sold a cumulative 845 boats. In contrast, Toyota sells about 10 million vehicles a year around the world.

    Reporters recently got a ride in Tokyo Bay of a Lexus luxury concept “yacht,” which runs on two gas engines. With a streamlined curvaceous design, inspired by a dolphin and evocative of a Lexus car, it’s being promised as a commercial product in the next few years.

    Designed for executives zipping through resort waters, it comes with fantasy-evoking features, like an anchor pulled in by a chain into a tiny door in the bow, which opens then closes mechanically.

    The engine, shiny like a chrome sculpture, is visible beneath the sheer floor surface. Shigeki Tomoyama, the executive in charge, said the boat was going for “a liberating effect.” A price was not given. Many Americans have already expressed interest, according to Toyota.

    The project started about two years ago under direct orders from Toyoda, who has with Tomoyama spearheaded Toyota’s Gazoo internet business, another non-auto business for Toyota.

    “He asked us to create a space that can work as a secret hiding place in the middle of the ocean,” Tomoyama said. “We went for the wow factor, which requires no words.”

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  • Toyota sells all shares in Tesla as their tie-up ends

    Toyota sells all shares in Tesla as their tie-up ends

    Toyota Motor Corp said on Saturday it had sold all shares in Tesla Inc by the end of 2016, having canceled its tie-up with the U.S. luxury automaker to jointly develop electric vehicles.

    Japan’s biggest automaker had bought around a 3 percent stake in the Palo Alto-based automaker for $50 million.

    Toyota spokesman Ryo Sakai said the company had sold all of its shares in Tesla as of the end of 2016, part of a regular, periodic review of its investments, after it had initially sold down a portion in 2014.

    “Our development partnership with Tesla ended a while ago, and since there has not been any new developments on that front, we decided it was time to sell the remaining stake,” he said.

    In November, the Japanese automaker appointed its president to lead their newly-formed electric car division, flagging its commitment to develop a technology that it has been slow to embrace.

    The department comprises a new in-house unit to plan Toyota’s strategy to develop and market electric cars as part of the company’s efforts to keep pace with tightening global emissions regulations.

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  • Daimler, BAIC agree to make electric cars in China

    Daimler, BAIC agree to make electric cars in China

    Daimler and its Chinese joint venture partner BAIC Motor Corporation agreed to upgrade the Mercedes-Benz factory in Beijing to make electric cars, the German carmaker said on Thursday.

    At a signing ceremony in Berlin attended by German Chancellor Angela Merkel and Chinese Premier Li Keqiang, Daimler signed a framework agreement to upgrade production facilities at Beijing Benz Automotive (BBAC), to make New Energy Vehicles, a label for so-called low-emission vehicles which include hybrid and pure battery electric cars.

    “China today is already the world’s largest market for NEVs, and Daimler is committed to contributing to the further development of electric mobility in this country,” Hubertus Troska, Daimler’s board member in charge of China, said.

    Daimler also agreed to acquire a minority stake in Beijing Electric Vehicle (BJEV), a subsidiary of the BAIC Group, to enhance collaboration on developing so-called new energy vehicles. Daimler declined to provide a figure for the scale or value of the stake.

    BJEV was established in 2009 by the BAIC Group and other shareholders as a development platform for New Energy Vehicles.

    It focuses on research and development, production, and sales and services for New Energy Vehicles and core NEV components. To date, the company’s product portfolio covers five major series of electric vehicles.

    The German government’s agenda to the Germany-China summit in Berlin also showed that Volkswagen was due to sign a contract with Anhui Jianghuai Automobile Co about production, research and development of electric cars in China.

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