Latest news with #automotive
Reuters
16 minutes ago
- Automotive
- Reuters
Foxconn to soon announce another Japanese auto partner, chairman says
TAIPEI, May 29 (Reuters) - Taiwan's Foxconn ( opens new tab will soon announce another Japanese auto partner, Chairman Young Liu said on Thursday. Foxconn subsidiary Foxtron Vehicle Technologies ( opens new tab and Japanese automaker Mitsubishi Motors (7211.T), opens new tab this month signed a memorandum of understanding for the supply of an electric vehicle model.
Japan Times
an hour ago
- Automotive
- Japan Times
Factory that symbolised Nissan's rise may become victim of its decline
When Nissan's Oppama plant opened in 1961, it was one of Japan's first large-scale auto factories and a symbol of the company's global ambitions. Sixty-four years and millions of cars later, the storied plant now faces possible closure as Nissan sinks deeper into crisis. New Chief Executive Ivan Espinosa unveiled sweeping cost cuts this month that included plans to shed 15% of the global workforce and close seven factories worldwide. Battered by declining sales in the United States and China, Nissan faces a mountain of debt repayment and is scrambling to upgrade its aging lineup of vehicles. The Japanese automaker hasn't said which of its 17 plants will be closed. Oppama, in the port city of Yokosuka south of Tokyo, is being considered, as is another smaller plant in Japan. Factories in South Africa, India, Argentina and Mexico could also be closed.
Motor Trend
2 hours ago
- Automotive
- Motor Trend
The 2026 Toyota RAV4 GR Sport PHEV Isn't the First Ultra-Sporty RAV4
The 2026 Toyota RAV4 lineup is wider than ever, with so-called "core" models forming the backbone of the bestselling compact SUV's family, and a new Woodland off-road trim joining an equally new GR Sport trim level on the fringes. While there are other "sport" themed RAV4s available, namely an XSE model, the zestiest of the bunch is that GR Sport. 0:00 / 0:00 It combines the new RAV4's most powerful powertrain—a 320-hp plug-in hybrid setup—with a lowered suspension, sticky summer tires, and heavily bolstered seats. Sounds wild, right? Well, it's not the first time Toyota's gotten weird with the RAV4, which has otherwise been an exemplar of the mainstream since its 1996 introduction. New Sport, Same as the Old Sport? The Sport trim level has been offered with RAV4s on and off for decades, but the GR Sport isn't the first one with huge power underhood. The last-generation RAV4's Prime (later Plug-In Hybrid) version offered up a stout 302 ponies and came only in Toyota's sportier XSE trim level. Before that, the only other RAV4 that qualified as "powerful" is the only RAV4 ever to offer V-6 power, the third-generation model sold between 2006 and 2012. It was larger than the dinkier first- and second-gen versions, so much so it even offered a (tiny) third-row seat option. But the headliner was that optional 3.5-liter V-6 that Toyota stuffed between its front wheels. While most third-gen RAV4s were sold with a 2.4-liter inline-four sending 166 hp through a four-speed automatic transmission, the optional V-6—available across the lineup, from the entry-level version with unadorned steel wheels to the Sport to the top-tier Limited variant—was where the real action was at. The 3.5-liter V-6 borrowed from the larger Avalon sedan pushed out a mighty 269 hp and 246 lb-ft of torque and enjoyed an extra forward ratio in its five-speed auto. For a time, V-6-powered RAV4s were the quickest new Toyotas you could buy; MotorTrend tested one that reached 60 mph in only 6.3 seconds. Nothing else in the compact SUV segment at the time even came close to the Toyota's muscle, which was deployed most effectively in the firmed-up, big-wheel RAV4 Sport model. Well, there was one SUV with the power to challenge the V-6 RAV4: The electric one. Yep, from 2012 to 2014, at the tail end of the RAV4's third generation and well into the fourth-gen RAV4's tenure, Toyota sold an EV version based on the 2006–2012 RAV4. Believe it or not, but the third-generation RAV4 was actually not the first RAV4 to offer an all-electric variant (there was a second-generation spin-off first), and the 2012 version came loaded with an early Tesla powertrain (!) and a 42-kWh battery good for a mere 100 miles of driving range. Power output from the single motor (derived from one in the Model S but significantly detuned) stood at 154 hp and 273 lb-ft of torque, routed to the front wheels via a single-speed transmission. This was good for a seven-second 0–60-mph time, according to Toyota, when the RAV4 EV was placed in its Sport drive mode. (The regular setting lengthened acceleration time to 8.6 seconds.) These were only offered in certain states, and can be picked out by their lack of an external spare tire, body-color grille delete panel (with goofy large "EV" lettering beneath the Toyota lettering), blue-tinged badges, and unique headlight internals. Actually, Sort Of! In a way, the 320-hp plug-in hybrid RAV4 GR Sport is an amalgamation of the third-generation RAV4's most powerful powertrain options. Today, four-cylinder engines have largely supplanted six-cylinder options in the compact and midsize vehicle segments, so the GR Sport PHEV's system being anchored by a heavily electrified four-cylinder engine not only follows that trend, but its e-motor support recalls the oddball Tesla-powered RAV4, as well. Like other plug-in-hybrid 2026 RAV4s, the GR Sport's system is 18-hp more powerful than the last-generation RAV4 PHEV. It combines a 2.5-liter four-cylinder engine with two electric motors and a planetary-type continuously variable automatic transmission (CVT) to power the front axle, along with a third electric motor that lives on the rear axle and spins the rear tires for on-demand all-wheel drive. The onboard battery can be charged at up to 11 kW on an AC home charger, but strangely, the GR Sport does not offer the same CCS-style DC fast-charging port as the lesser RAV4 XSE and Woodland PHEV trim levels. So, while the GR Sport is likely to be among the quicker RAV4s on sale later this year, that'll only apply to its straight-line speed—not its on-the-go charging speeds. Where the 2006–2012 RAV4 Sport featured cool 18-inch wheels and meaty, relatively low-profiled (for the time) all-season tires along with a firmed-up suspension and blacked-out trim, the 2026 RAV4 GR Sport goes ham sandwich on apparent track-readiness. It wears Dunlop Sportmaxx summer tires wrapped around 20-inch wheels that fill more of the fenders—their offset is wider than regular RAV4 wheels—and beefy brakes with red-painted calipers. The GR Sport's face is entirely different from the headlights down relative to other 2026 RAV4s, with a gaping lower intake and huge vents at each front corner. Out back, a wild spoiler sprouts from the top of the tailgate, and the lower bumper incorporates as much black trim as the nose. Inside there is a black-and-red color scheme, with red contrast stitching, sporty aluminum pedals, and heavily bolstered front seats not shared with other RAV4s. Will this GR Sport be the quickest factory RAV4 ever? Last year's RAV4 Plug-In Hybrid was capable of a relatively quick 5.5-second zero-to-60-mph time. With the GR Sport's stickier tires, hotter chassis setup, and the same 18-hp bump shared by other plug-in-hybrid 2026 RAV4s, we anticipate it will be. But just remember—it wouldn't be the first time the RAV4 delivered unexpected power and performance, even if we won't ever see a V-6 (or a Tesla-sourced motor) under the hood again.
The Sun
3 hours ago
- Automotive
- The Sun
Major car brand ‘looking to raise £5BILLION' after axing 20K jobs & £4bn losses with ‘UK goverment to back loan'
A MAJOR car brand is reportedly looking to raise £5billion including a loan guaranteed by the UK government after axing 20,000 jobs. Cash-strapped Nissan, Japan's third-largest carmaker, is already facing £4billion in losses - its worst annual loss in a quarter century. 4 4 But now, the company are said to be considering raising more than 1 trillion yen - just over £5 billion - from debt and asset sales in a bid to prop up Nissan. The struggling Japanese automaker plans to issue as much as 630 billion yen in convertible securities and bonds, including high-yielding US dollar and euro notes, according to Bloomberg News. The move would also include a £1billion syndicated loan guaranteed by the British government, the documents show. Sale-and-lease-back plans for its Yokohama headquarters, plus properties it owns in the United States, are also reportedly on the cards. The aggressive fundraising plans underscore Nissan's rapidly deteriorating financial and operational position, despite efforts by newly appointed chief executive Ivan Espinosa to turn the company around. In addition, Nissan is reportedly seeking to sell part of the stakes it owns in Renault and battery maker AESC Group, as well as plants in South Africa and Mexico. Bloomberg News cited sources as saying Nissan's board did not appear to have approved the funding proposal yet, leaving it unclear whether it would happen. The proposal was also slated to include the rollover of some debt, the report said. A Nissan representative said the company does not comment on speculation. It comes after Nissan said they could part ways with its global headquarters in Yokohama, Japan, to fund the company's urgent restructuring plan. After having moved to the 22-story high-rise in 2009, the car manufacturer is now facing mountains of debt and is on track to cut 20,000 jobs, shut several of its plants and slash billions in costs. With a glitzy gallery, the flashy headquarters can showcase more than thirty motors and stands in stark contrast to their previous offices. Legendary Nissan model is officially discontinued after selling for nearly 20 years as leaked car to 'take its place' The company have said that part of their plan has called for reviewing assets that can be sold in a desperate bid to pay for the restructuring. With its own headquarters in sight, thought to be worth approximately £500 million, Nissan would structure a deal so it could continue to use the site through a lease so its offices and operations remain in place. A company spokesperson said: "Nissan is considering all possibilities to recover its business performance, but there are no specifics to share at this point of time." The move is not unprecedented, however, with McLaren doing something similar with its HQ in Woking in recent years. Nissan confirmed in April that it was anticipating losses of up to £4 billion, its worst annual loss in a quarter century. Nissan is also planning to close seven factories by 2027, including two domestic sites which are thought to be the Oppama and Shonan plants, saving £2.6 billion in the process. There have also been reports of downsizing or a partial sale of its Tochigi assembly plan and test centre facility north of Tokyo which was recently equipped with manufacturing technologies to assemble electric vehicles. To underline the dire financial situation, the motor company is even halting the development of certain models to cut its expenses. While the car company has been hit hard by the effects of Donald Trump's tariff war, Nissan's new CEO, Ivan Espinosa, has admitted the company's financial trouble started a decade ago. He said: "This is not something that happened in the last couple of years. "It's more of a fundamental problem that probably started back in 2015, when management thought this company could reach [annual global vehicle sales] of around eight million. "There were heavy investments both in terms of planned capacity as well as in human resources, but the reality today is we are running at around half that volume. And nobody did anything to fix that until now.' 4 4
Entrepreneur
3 hours ago
- Business
- Entrepreneur
Toyota Supercharges Joby: $250M Capital Infusion Ignites Stock
This story originally appeared on MarketBeat [content-module:CompanyOverview|NYSE:JOBY] Joby Aviation (NYSE: JOBY) saw its stock price climb sharply on May 28, 2025. This surge followed a major announcement that has clearly excited investors about the electric air taxi developer's future. The company confirmed it has received the first $250 million part of a larger investment from automotive leader Toyota Motor Corporation (NYSE: TM). This significant funding immediately boosted market confidence, and Joby's shares jumped over 27% to trade around $8.78 during the day. Trading volume was also exceptionally high, with about 67.41 million shares changing hands, far above its average of roughly 12.31 million. The enthusiastic market response underscores the significance of the strengthened partnership with Toyota in Joby's plan to launch its innovative eVTOL (electric vertical takeoff and landing) aircraft. Why Toyota's $250M is a Game-Changer for Joby This $250 million capital injection puts cash in the bank for Joby Aviation, marking a crucial deepening of its strategic partnership with Toyota. This payment marks the first installment of a previously announced $500 million total investment from the automotive giant, underscoring its ongoing and strong support. The money is specifically aimed at two vital areas for Joby: completing the Federal Aviation Administration (FAA) certification for its aircraft and preparing for large-scale commercial production. Both steps are expensive and essential for Joby to start its air taxi service. A Partner's Conviction: Toyota Now Joby's Leading Shareholder [content-module:Forecast|NYSE:JOBY] Beyond providing capital, Toyota has also significantly increased its ownership stake in Joby Aviation as part of this $250 million investment. A director representing Toyota Motor Corporation purchased approximately 49.7 million shares of Joby Aviation stock. These shares were bought at an average price of $5.03 each. This large purchase solidifies Toyota as Joby Aviation's top shareholder. After this transaction, Toyota's total holding in Joby increased by 68.20%, now totaling 122.57 million shares. Toyota's increased investment, ownership, and significant industry expertise and board representation strongly signal market confidence in Joby and its future. Investors can also view this as a powerful insider endorsement. It suggests Toyota strongly believes in Joby's technology, management team, and long-term potential for success. This level of commitment from a global manufacturing leader like Toyota directly strengthens the investment case for Joby, providing a degree of validation that exceeds typical market speculation. Volume and Options Activity Underscore Enthusiasm [content-module:TradingView|NYSE:JOBY] The market's reaction to Toyota's investment was strong and clear. Besides the immediate stock price jump to around $8.78, trading volume was exceptionally high. Over 70 million shares were traded by midday on the day of the announcement, nearly six times Joby's recent average volume. This high volume shows that many investors were actively engaging with the stock following the news. Further highlighting bullish sentiment, there was unusual activity in the options market. The volume of call options increased by approximately 638% compared to normal levels. This suggests that some traders are making speculative bets on Joby's increasing stock price. It is also important to note that after this surge, the company's stock price moved above the average analyst price target of $8.67 that was in place before this Toyota funding news. Analysts often review their financial models and issue updated price targets when a company announces such a significant positive development. This reassessment often leads to the issuance of revised price targets that reflect the potential impact of the new information on the company's future performance and prospects. The Toyota funding news represents a material event that is likely to prompt a widespread review and potential upward adjustment of analyst expectations for Joby Aviation. What Toyota's Backing Means for Joby's Future Toyota's $250 million investment tranche marks a significant milestone for Joby Aviation, providing crucial capital and strengthening a strategic alliance with a manufacturing leader. This partnership is essential for Joby's efforts to scale the production of its electric air taxis. This development significantly reduces the risks associated withalization plans for investor Joby's commercis, as reflected in the positive stock market response. Bolstered by this financial support and a closer manufacturing relationship with Toyota, Joby Aviation is in a stronger position to execute its commercialization strategy and pursue a leading role in the developing urban air mobility sector. Before you make your next trade, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list. They believe these five stocks are the five best companies for investors to buy now... See The Five Stocks Here
