Suzuki Motor halted Swift car production due to China's rare earth curb, Nikkei says
A Swift Sport on display in Malaysia. The Japanese automaker had announced the planned production stoppage of the popular model through June 6 but had not given a reason. - The Star
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The Star
10 hours ago
- The Star
Billion-dollar battery plant pauses construction in U.S. amid electric vehicle, tariff uncertainty
NEW YORK, June 6 (Xinhua) -- A Japanese company has halted construction on a 1.6 billion U.S. dollars factory in South Carolina to help make batteries for electric BMWs, citing "policy and market uncertainty," reported The Associated Press on Friday. "While Automotive Energy Supply Corp. (AESC) didn't specify what those problems are, South Carolina's Republican governor said the company is dealing with the potential loss of federal tax breaks for electric vehicle buyers and incentives for EV businesses as well as tariff uncertainties from President Donald Trump's administration," noted the report. "What we're doing is urging caution -- let things play out because all of the these changes are taking place," Governor Henry McMaster said. AESC announced the suspension in construction of its plant in Florence on Thursday. "Due to policy and market uncertainty, we are pausing construction at our South Carolina facility at this time," the company's statement said. AESC promised to restart construction, although it didn't say when, and vowed to meet its commitment to hire 1,600 workers and invest 1.6 billion dollars. The company said it has already invested 1 billion dollars in the Florence plant. The battery maker based in Japan also has facilities in China, the United Kingdom, France, Spain and Germany. In the United States, AESC has a plant in Tennessee and is building one in Kentucky. The statement didn't mention any changes with other plants.
The Sun
19 hours ago
- The Sun
Moody's cuts Nissan corporate family rating to Ba2
TOKYO: Global ratings agency Moody's on Friday cut Nissan Motor Co Ltd's corporate family rating to Ba2 from Ba1, as the embattled Japanese automaker seeks to push through a turnaround. The outlook remains negative, Moody's said. 'The downgrade reflects the deterioration and expectation for continuing weakness in Nissan's credit profile, most notably in its automotive free cash flow and EBIT margin,' Dean Enjo, Moody's ratings vice president and senior analyst, said in a statement. Japan's third-biggest automaker last month unveiled sweeping new cost cuts, saying it would reduce its workforce by around 15% and cut production plants to 10 from 17 globally, as performance in its key markets continues to come under pressure.
Barnama
a day ago
- Barnama
Midea Compressor Recognized: KOLs' Teardown Videos Expose Aircons' Core Component
KUALA LUMPUR, Malaysia, June 6 (Bernama) -- Recently, influencers from Thailand and Malaysia shared teardown reviews of air conditioners, sparking widespread discussion. Many were surprised to learn that top Japanese brands like Panasonic and Daikin use 'GMCC' compressors—manufactured by Midea, the world's No.1 residential inverter AC company. Malaysian Tech DIYer Berani Buat disassembled Daikin and Panasonic units and found the GMCC label inside. His video drew attention, with viewers surprised by a Chinese-made core part in a Japanese-branded product. Meanwhile, Thai creators like Daddy Tips , Lungchang, BT Beartai and Extreme IT also shared similar findings and demonstrated how the core compressor helps AC to cool down. These reviews challenge perceptions of brand origin and highlight Midea's role not just as a supplier, but as a global innovator in air conditioning—quietly powering ACs with cutting-edge compressor technology.
