Reuters Asia Business

Automakers, foreign governments seek changes to U.S. EV tax rules

9 Nov 2022

By David Shepardson WASHINGTON (Reuters) – Hyundai Motor Group and other automakers want the United States to delay implementation of new electric vehicle tax credit rules that make vehicles assembled outside North America ineligible. South Korea, Japan, Brazil and the European Union have criticized the overhaul of the $7,500 EV tax credit signed into law …

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Tesla Shanghai adds to inventory at highest rate ever in October – brokerage data

9 Nov 2022

SHANGHAI (Reuters) – Tesla added to its electric vehicle inventory in Shanghai at its fastest pace ever in October, brokerage data showed, at a time when automakers and investors are bracing for a downturn in the world’s largest car market. In October, Tesla produced 87,706 Model 3s and Model Ys in Shanghai but delivered 71,704 …

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Shanghai bourse unit suffers temporary glitch in a market data system

9 Nov 2022

SHANGHAI (Reuters) – A Shanghai Stock Exchange (SSE) unit said on Wednesday a market data system had resumed normal service following a temporary glitch that had led to abnormal data being supplied to information providers. In early trading on Wednesday, some investors complained in social media of abnormal data on various stock trading platforms, which …

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Nissan posts profit jump and lifts outlook; Renault uncertainty remains

9 Nov 2022

By Satoshi Sugiyama TOKYO (Reuters) -Nissan Motor Co on Wednesday reported a 45% jump in second-quarter profit and sharply hiked its full-year outlook, helped by cost-cutting, higher-margin sales and a weaker yen. The upbeat earnings come amid uncertainty over how the Japanese automaker and its partner and top shareholder Renault SA will reshape their alliance. …

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Shares in Apple supplier Goertek tumble after client suspends order

9 Nov 2022

By Josh Ye HONG KONG (Reuters) -Shares in Goertek Inc tumbled on Wednesday after the China-based electronics supplier said an overseas client had asked it to suspend assembly work for a smart acoustic product, which analysts identified as the Apple AirPods Pro 2. Goertek said late on Tuesday it had received the notice from a …

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China’s Oct new yuan loans seen sliding as demand weakens – Reuters poll

9 Nov 2022

By Ella Cao and Kevin Yao BEIJING (Reuters) – China’s new yuan loans likely slumped in October from September, a Reuters poll showed, as stringent curbs to stamp out COVID-19 outbreaks and a property sector debt crisis hurt economic activity and credit demand. Chinese banks are estimated to have issued 800 billion yuan($110.4 billion) in …

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China’s COMAC secures 330 aircraft orders, boosts demand outlook at air show

9 Nov 2022

By Sophie Yu and Brenda Goh BEIJING (Reuters) -Chinese planemaker Commercial Aircraft Corporation of China (COMAC) said it had secured 330 orders for its homegrown C919 narrowbody and ARJ21 regional jets, and raised its 20-year aircraft demand forecast at the country’s biggest air show. China Development Bank Leasing, ICBC Leasing, CMB Financial Leasing, BOCOM Leasing, …

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COMAC, Boeing agree to step up research co-operation

9 Nov 2022

BEIJING (Reuters) – Chinese planemaker Commercial Aircraft Corporation of China (COMAC) and Boeing signed an agreement to expand co-operation on their joint research centre, state media Shanghai Securities News said on Wednesday. The pact, signed at the Zhuhai airshow, aims to further support sustanable development of aviation, it added. (Reporting by Beijing newsroom; Editing by …

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