Latest news with #TokyoAutoSalon
Forbes
02-06-2025
- Business
- Forbes
Japan's Mitsubishi Launches $700 Million VC Arm
Mitsubishi's logo on display in Tokyo, Japan. Japanese conglomerate Mitsubishi Corp. has launched its first corporate venture capital arm with a total fund size of 100 billion yen (about $700 million). The fund includes capital already deployed by Mitsubishi's eight business groups. Titled MC Global Innovation (MCGI), the new CVC will 'make flexible investments across a broad range of sectors,' Mitsubishi said in a statement. MCGI will invest across the startup life cycle, from seed to later stages, with a focus on early-stage investments, according to the statement. The firm will primarily target the fields of 'AI, software, bio and health care,' a representative of Mitsubishi added in emailed comments, but may also include segments such as 'robotics, aerospace, and next-generation computing,' among others. Mitsubishi's startup portfolio currently spans approximately 100 companies, with assets under management totalling $300 million. Following the establishment of MCGI, Mitsubishi plans to invest another $300 million over the next ten years, according to the representative. The CVC's debut comes on the heels of Mitsubishi's latest corporate strategy launch in April. To navigate what it described as an uncertain business environment linked to 'unprecedented geopolitical and economic risks,' the company stated it plans to allocate approximately 1 trillion yen to sustaining capex and more than 3 trillion yen to growth investments by 2027. Through MCGI, Mitsubishi will consolidate its portfolio of startup investments from its eight business groups, spanning environmental energy, materials solutions, mineral resources, urban development and infrastructure, mobility, food industry, consumer technology-focused 'Smart Life Creation,' and power solutions. Recent deals have centered on the fields of sustainable materials and mobility. On Monday, Mitsubishi separately announced it would invest in and enter a partnership with London-headquartered startup DEScycle, which recycles metals from electronic waste. Last November, Mitsubishi invested $25 million in Ample, a San Francisco-headquartered electric vehicle charging startup that develops battery-swapping infrastructure. Ample previously partnered with commercial vehicle manufacturer Mitsubishi Fuso Truck and Bus Corp. to pilot its technology on electric trucks in Japan. A Mitsubishi Motors model on display at the 2025 Tokyo Auto Salon event in Chiba, Japan. In addition to Mitsubishi Corp., the broader Mitsubishi Group includes financial services giant Mitsubishi UFJ Financial Group (MUFG), which operates Japan's largest bank by total assets, MUFG Bank; automaker Mitsubishi Motors; electronics and electrical equipment manufacturer Mitsubishi Electric; and industrial group Mitsubishi Heavy Industries. CVCs have seen an uptick in activity in Japan, where corporations, including CVCs, were among the key types of investors 'making significant investments in startups' in 2024, according to an April report published by the government-owned Japan Investment Corp. Over this period, Mitsubishi UFJ Capital—a VC arm of MUFG, commonly known as MUCAP–participated in 22 seed-stage funding rounds and 44 in Series A to B, the report added, making it one of Japan's most active investors. As opposed to MUFG Innovation Partners, MUFG's dedicated CVC arm, MUCAP has a broader investment mandate that extends beyond financial services. A rising area for investment has been Japan's semiconductor industry, which has seen a surge in both public and private investment. In March, the Japanese government pledged an additional $5.4 billion to its homegrown chipmaker Rapidus, bringing its total government subsidies or grants to around $11.5 billion. With backing from industry giants, including MUFG Bank and SoftBank, Rapidus aims to commence commercial production of chips using a 2-nanometer (2nm) process node—some of the world's most advanced—by 2027.
Asahi Shimbun
28-05-2025
- Automotive
- Asahi Shimbun
Brazilian prosecutors sue China's BYD over allegations of slave-like labor conditions
BYD Co. unveiled the new EV Sealion 7 at the Tokyo Auto Salon in Makuhari Messe in Chiba on Jan. 10. (Yukio Hashimoto) SAO PAULO--Brazilian prosecutors said Tuesday they are suing Chinese electric vehicle giant BYD and two of its contractors over allegations of using workers in slave-like labor conditions and engaging in international human trafficking. The labor prosecutors' office in Bahia state said in a statement that they are seeking 257 million Brazilian reais ($50 million) in damages from BYD, China JinJiang Construction Brazil and Tecmonta Equipamentos Inteligentes. The lawsuit stems from an investigation that led to the rescue last year of 220 Chinese workers from the construction site of BYD's new factory in the city of Camaçari. Prosecutors said the workers were brought to Brazil under false pretenses and with visas that did not match their jobs. 'Working conditions were extremely degrading. Five settlements were kept by BYD, JinJiang and Tecmonta. Some workers slept on beds without mattresses and had their personal belongings alongside with their food,' the prosecutors' office said. 'There were few bathrooms, which were not gender-assigned. In one of the settlements, there was one toilet for 31 people, forcing workers to wake up at 4 a.m. for their personal hygiene before their work.' BYD said in a statement it is collaborating with the investigations from the start and will speak about the case during the course of the probe. It also said it respects Brazil's laws and international labor regulations. In December, a spokesperson for the Chinese automaker objected to reports about poor conditions at the construction site in Brazil, saying the allegations were aimed at 'smearing' China and Chinese brands.
TimesLIVE
09-05-2025
- Automotive
- TimesLIVE
More potent Toyota GR Yaris arrives in SA: pricing and specs
First presented at the 2024 Tokyo Auto Salon, the updated Toyota GR Yaris has finally arrived in SA offering improved straight-line performance, sharper handling and superior interior ergonomics. Ready to rip up asphalt (or gravel if you want to imitate Toyota WRC driver Elfyn Evans), here are five things you need to know about it. 1: It packs a more potent engine The 1.6l three-cylinder turbocharged engine has been beefed up with a strengthened valvetrain, new exhaust valve material and an increase in fuel injection pressure. A new set of lightweight pistons with wear-resistant rings and intake pressure sensor have also been added. Controlled by updated engine management software, this means peak power has risen to 210kW at 6,500 rpm while torque increases to 400Nm between 3,250rpm and 4,600 rpm. Performance is brisk, with Toyota claiming the manual and automatic variants are capable of dashing from 0-100km/h in 5.2 seconds. Top speed is a respectable 230km/h. A new drive mode selection function is also fitted as standard and allows drivers to tailor the car for sports driving and daily use. With the flick of a switch, Sport, Normal and Eco modes engage different settings for the vehicle's electric power steering, air-conditioning, throttle response and the driver's instrument display. On models equipped with the eight-speed automatic gearbox, the gearshift feel and selection are also adjusted. 2: An automatic transmission is available as an option To make it appeal to an even broader spread of customers, the updated GR Yaris can be fitted with an eight-speed Gazoo Racing Direct Automatic Transmission. According to Toyota, the unit was subjected to a gruelling test programme that included stints on snow-covered roads in Finland and stages in the Japanese Rally Championship. Fitted with performance optimised software, the torque converter unit constantly monitors brake and accelerator inputs to anticipate when gear shifting is necessary even before changes in vehicle behaviour occur. Stacked with a set of shorter ratios, it also sports a new torque control system and a compact, high-response linear solenoid, features Toyota said result in 'world-class shifting speeds' and faster lap times than those achieved with cars equipped with the six-speed manual. Cooling requirements are addressed with the installation of an automatic transmission fluid cooler, while handling performance is boosted by front and rear Torsen limited-slip differentials. The carmaker has also strengthened the gear linkages fitted to the manual transmission. The GR-Four all-wheel drive system has been upgraded with revised modes. Normal mode features a 60:40 front-rear torque split while Gravel offers a slightly more rear-biased 53:47. Track mode is fully variable, however, offering torque splits between 60:40 and 30:70 depending on drivetrain loads and real time driving conditions. 3: Stronger chassis To improve the car's yaw response and enhance overall steering feedback, Toyota has stiffened up the new GR Yaris chassis by upping the number of spot welding points (+13%) and adding more structural adhesive (+24%). To help keep the vehicle's alignment in check, Toyota has installed beefier shock tower mounts featuring three fastening bolts. Another key tweak comes in the form of increased front and rear spring rates, which will help reduce the amount of body roll experienced through high-speed corners. 4: New driver-oriented cockpit One of the biggest criticisms of the original GR Yaris was compromised forward visibility brought about by its 'after thought' infotainment system. Perched high atop the middle of the dashboard, it had a tendency to disrupt the driver's view through the windscreen. Toyota has fixed this by equipping the 2024 GR Yaris with a totally redesigned dashboard. Though the new squared-off layout might have a bit of a 1980s aesthetic, its top edge has been lowered 50mm for much improved field of vision. The control panel housing the infotainment and climate control system has also been angled an additional 15° further towards the driver; a tweak that puts key vehicle control systems much closer to hand. Toyota has also lowered the driver's seat 25mm and readjusted the steering wheel to suit. Another subtle improvement sees the vehicle's iMT and VSC buttons relocated from between the front seats to the area behind the gear lever where the GR-Four and Drive Mode selectors are set. All of this improves ergonomics and ease of use. Customers can also look forward to a 12.3-inch digital instrument cluster offering two layout modes, Normal and Sport. Replacing the analogue dials of old, the latter offers a performance-focused data display useful for motorsport activities. On the automatic model, the readout includes gearbox oil temperature and a visual warning in addition to a sound alarm to alert the driver when engine revs are too high for downshifting. 5: Behold an evolved exterior Though it looks largely unchanged, the exterior of the 2024 GR Yaris does feature a few subtle enhancements. The front bumper, for instance, boasts a three-piece design that allows owners to easily replace damaged sections as opposed to the entire unit. In a similar vein, the lower intake has been retrofitted with a steel mesh grille which is not only more robust than the plastic it replaces but cheaper to replace and easier to mend. Toyota has also fitted side grilles with larger openings to boost cooling efficiency. At the rear you'll find a new opening in the bottom edge of the lower bumper garnish. This feature is said to reduce drag and help disperse heat generated by the exhaust system. The Toyota engineers also relocated the fog and reversing lights, moving them from the lower bumper to be integrated in the rear combination lamps, thus reducing the risk of damage. Similarly, the high-mounted brake light has been moved from the spoiler to the area below the rear windscreen. This makes it easier for owners to change or customise the car's spoiler to suit their preference. Tying all the revisions together is a light bar running between the tail light clusters, a feature creating added visual drama at night. Pricing Available at Toyota dealerships, the new GR Yaris starts at R897,400 for the manual and R925,300 for the automatic. They come standard with a 90,000km service plan and three-year/100 000km warranty.
Yahoo
26-02-2025
- Automotive
- Yahoo
Toyota Celica and MR2's Return Would Restore Iconic '90s Nameplates
could bring back some hits from the 1990s based on reports of a new Celica and MR2. Both cars would likely be powered by the company's new G20E turbocharged 2.0-liter four-cylinder The Celica has reportedly been confirmed, and sure looks like an MR2 development mule. Toyota's debut of a brand-new four-cylinder turbocharged engine at this year's Tokyo Auto Salon raised more than a few eyebrows. In an era where electrification grabs the headlines and crossovers rule the sales charts, stuffing a turbo four with as much as 400 hp in a subcompact Yaris seems suspiciously too much like enthusiasm for a company as serious as Toyota. And they stuck it in the middle? What are those 'Yota engineers up to exactly? Seems like someone has built a time machine at Toyota HQ because the company is set to turn the clock back to the 1990s and release two of its greatest hits. The return of the Celica and MR2 nameplates was hinted at in the first episode of a Toyota-produced anime series called Grip last November. A few weeks after that debut, Toyota's executive vice president Yuki Nakajima confirmed that the Celica was in Toyota's plans, as reported by Japanese magazine Best Car. The mid-engined GR Yaris M concept (pictured below) suggests that a reborn MR2 could be heading our way too. With the Supra on its way out the door, and a new one not slated until later in the decade, the return of a high-performance two-seater could slot right into Toyota's lineup as a halo car. Powertrain details are still murky as the car is not officially confirmed to be joining the Celica, but comments to AutoExpress by Naohiko Saito, Gazoo Racing's lead engineer, seem to indicate that all-wheel drive was going to be part of the setup. Considering how much fun the GR Corolla is, a cut-down, mid-engined two-seater version would be aces. And there's every chance it would look great too. Toyota's FT-Se concept debuted at the 2023 Tokyo auto show as a potential EV platform, but its packaging would be ideal for a midship layout. As for the Celica, that could very well end up as a reborn version of the 1990s All-Trac, with turbocharged power and all-wheel-drive grip. If the Sega Rally theme tune just started playing in your head, then yes, it's possible Toyota could enter a motorsport version of this car in rallying, as new WRC rules have loosened up a little. Even though Toyota is far more dependent on moving RAV4s and Camrys out the door in their masses, it's nice to see that there's still time to work on the fun stuff. Right now, a little mid-engined Yaris is zooming around a test track in Aichi prefecture, working on its Pokemon evolution to level up into a new MR2. You Might Also Like Car and Driver's 10 Best Cars through the Decades How to Buy or Lease a New Car Lightning Lap Legends: Chevrolet Camaro vs. Ford Mustang!
Yahoo
13-02-2025
- Automotive
- Yahoo
2025 Tokyo Auto Salon Photo Gallery
Toyota and Hyundai were bonding over car culture at the recent Tokyo Auto Salon while spontaneous car meets across the Japanese capital are the place to witness this car culture at its best. Snacks resting on the gargantuan wing of a Subaru S207 outside of a Family Mart in a Tokyo suburb, before heading to a car meet.
