Latest news with #bZ3X
Mint
4 days ago
- Automotive
- Mint
Nidec Builds Made-in-China EV Motor to Help Toyota Catch Rivals
Japan's Nidec Corp. is building an almost totally 'made-in-China' electric car motor to help Toyota Motor Corp. compete in the world's largest auto market, according to Chief Executive Officer Mitsuya Kishida. About 99% of the materials and parts in the E-axle motor are from China, said Nidec president Kishida. Building the integrated motor was 'incredibly tough,' he said in an interview last week. Nidec began supplying the motor for Toyota's electric bZ3X sport utility vehicle, which went on sale in March from about 110,000 yuan , and has sold about 20,000 units so far, according to a Toyota spokesperson. The car — the first Toyota vehicle to use this motor — is part of the company's push to turn around its fate in the world's No. 2 economy, as Chinese carmakers capture market share from global rivals. Using mostly Chinese parts allows the company to cut costs and helps reduce the price of the final car, which is necessary to compete in the Asian nation's ultra-competitive auto market. The new motor is also aimed at reviving the fortunes of fellow Japanese company Nidec, whose poor profitability and falling stock price are fueling investor discontent. Over the past five decades, the precision-motor manufacturer had sought growth through acquisitions, buying 75 companies and running about 250 factories, said Kishida, who earlier this year announced a restructure after taking the top job in 2024. 'Before we seek large growth in revenue we have to get our current business under control and get a more efficient structure,' he said at the opening of a new factory in Qingdao, northern China. The plant — which makes motors, compressors and electronics for home appliances — is an example of that, combining two older facilities from different business units in a new $100 million manufacturing hub. That restructuring may include selling some businesses, Kishida said, adding this would improve the image of the company for shareholders and hopefully boost the stock price. The Qingdao investment is a rare example of a Japanese company adding substantially to its presence in China, at a time when many others are cutting back as the nation's economic growth slows and global trade tensions rise. Net new Japanese investment into China was up about 3% in the first five months of this year, after rising about 6% last year, according to data from Japan's Ministry of Finance. Toyota is another firm bucking that trend, announcing a new factory in Shanghai for its Lexus brand in April, with that investment reported at around $2 billion. Kishida expressed confidence Nidec could also cooperate on that project, noting the company already supplies various other car parts to Toyota. With assistance from Yuki Furukawa, Masatsugu Horie and Nicholas Takahashi.
Business Times
4 days ago
- Automotive
- Business Times
Japan's Nidec builds made-in-China EV motor to help Toyota catch rivals
[TOKYO] Japan's Nidec is building an almost totally 'made-in-China' electric vehicle (EV) motor to help Toyota Motor compete in the world's largest auto market, according to chief executive officer Mitsuya Kishida. About 99 per cent of the materials and parts in the E-axle motor are from China, said Nidec president Kishida. Building the integrated motor was 'incredibly tough', he said in an interview last week. Nidec began supplying the motor for Toyota's electric bZ3X sport utility vehicle, which went on sale in March for about 110,000 yuan (S$19,704), and has sold about 20,000 units so far, according to a Toyota spokesperson. The car, the first Toyota vehicle to use this motor, is part of the company's push to turn around its fate in the world's No 2 economy, as Chinese carmakers capture market share from global rivals. Using mostly Chinese parts allows the company to cut costs and helps reduce the price of the final car, which is necessary to compete in the Asian nation's ultra-competitive auto market. The new motor is also aimed at reviving the fortunes of fellow Japanese company Nidec, whose poor profitability and falling stock price are fuelling investor discontent. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Over the past five decades, the precision-motor manufacturer had sought growth through acquisitions, buying 75 companies and running about 250 factories, said Kishida, who earlier this year announced a restructure after taking the top job in 2024. 'Before we seek large growth in revenue we have to get our current business under control and get a more efficient structure,' he said at the opening of a new factory in Qingdao, northern China. The plant, which makes motors, compressors and electronics for home appliances, is an example of that, combining two older facilities from different business units in a new US$100 million manufacturing hub. That restructuring may include selling some businesses, Kishida said, adding this would improve the image of the company for shareholders and hopefully boost the stock price. The Qingdao investment is a rare example of a Japanese company adding substantially to its presence in China, at a time when many others are cutting back as the nation's economic growth slows and global trade tensions rise. Net new Japanese investment into China was up about 3 per cent in the first five months of this year, after rising about 6 per cent last year, according to data from Japan's Ministry of Finance. Toyota is another firm bucking that trend, announcing a new factory in Shanghai for its Lexus brand in April, with that investment reported at around US$2 billion. Kishida expressed confidence that Nidec could also cooperate on that project, noting the company already supplies various other car parts to Toyota. BLOOMBERG
Miami Herald
17-06-2025
- Automotive
- Miami Herald
Toyota budget Tesla Model Y killer takes off in China
At this point, Toyota is almost as much a part of the U.S. auto industry as the Detroit Big 3. Toyota is by far the most popular brand in the States. Toyota sold over 2.3 million vehicles in the U.S. in 2024, a 3.7% year-over-year increase. Just in the last 12 months, between April 2024 and March 2025, the company built 1.96 million units in the U.S., according to Statista. Related: Elon Musk, Tesla finally get some good news out of China Meanwhile, 52% of the 2.7 million vehicles GM sold globally last year were "made in the USA." Of the Big 3, GM isn't even ahead of Stellantis (57%), a multinational conglomerate based in Europe, in terms of domestic production. Ford leads the way, with 77% of the cars it sells originating from the States. But even though Toyota has a dominant position in the States, the U.S. EV market isn't very developed right now. In fact, current U.S. government policy concerning tax credits for EVs suggests that the U.S. market is getting ready to contract rather than expand. At the same time, China controls the key element EVs need for their batteries. China controls over 70% of the world's rare earth mining, 85% of its refining capacity, and 90% of rare earth metal alloy and magnet production. So Toyota, despite its U.S. ties, is headed West to debut its latest mass-market EV SUV, which is selling like crazy in the world's largest EV market. Toyota debuted the bZ3X, its budget electric SUV, in China in March. In May, the vehicle became the best-selling foreign EV in China. Toyota launched the bZ3X through its joint venture, GAC Toyota, at a starting price of 109,800 yuan, or about $15,000, making it the Japanese automaker's "first 100,000 yuan-level pure electric SUV" and the most affordable EV so far in China, according to Electrek. The BZ3X sold 4,344 units in May, edging out the Volkswagen ID.3, which sold 4,217 units. Fellow Japanese automaker Nissan came in third with its new N7 sedan. Toyota claimed that it took so many orders when the bZ3X dropped that the server crashed after taking over 10,000 orders in an hour. Related: Toyota moves production of popular US sedan to Britain The compact electric SUV is considered conservative-looking, but Toyota is betting that consumers are willing to pay a little bit more for a light detection and ranging (LiDAR) driver assistance system. Toyota offers the bZ3X in seven different trims, but only two of them feature LiDAR, which is considered superior to the camera-based system Tesla utilizes for its Full Self Driving system, for a slightly higher price. The car also offers two battery options that grant driving ranges of 430 km (267 miles) and 610 km (379 miles), respectively. China's EV industry has shifted into overdrive. The Chinese government has been pushing its citizens to adopt the green technology using cash, tax, and other incentives to get them to purchase EVs and hybrids. In late May, BYD, Tesla's biggest rival in China, launched a new round of price cuts of up to 53,000 yuan (about $7,300) across 22 models. The move sent shock waves throughout the industry, as smaller rivals will have trouble keeping up wth the discounts the much-larger BYD can offer. The move was so drastic that the China Association of Automobile Manufacturers (CAAM) and the Ministry of Industry and Information Technology had to issue public warnings about "disorderly price wars." More Automotive news: General Motors delivers surprising business updateFord reports surprising news amid Tesla turmoilApple creates a clever way to stop car thieves BYD controls 32% of China's new energy vehicle market, compared to Tesla's 6.1% market share. Tesla has been marketing in China using the made-in-China mantra, but data shows that production at its China plant is slowing. Tesla made 58,459 Model 3 and Model Y vehicles at Gigafactory Shanghai in April, a 6% year-over-year decline. This came as demand fell, wth delivery data also declining in recent weeks. To fight back, Tesla has been discounting its vehicles in China wth subsidized 0% interest rates and direct discounts. Related: General Motors makes $4 billion tariff move The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Nikkei Asia
23-05-2025
- Automotive
- Nikkei Asia
Toyota, Nissan EVs draw back Chinese drivers with local designs
GUANGZHOU -- Japanese automakers that have struggled in the fiercely competitive Chinese market are trying to turn around their fortunes with electric vehicles tailored to local tastes, an approach that is starting to bear fruit for Toyota Motor and Nissan Motor. Toyota's bZ3X electric sport utility vehicle has proven popular since its release in March, ranking among the top-selling foreign new-energy SUVs -- a category that includes EVs and plug-in hybrids -- in April, according to one research firm.
USA Today
09-04-2025
- Automotive
- USA Today
The cheapest Toyota EV just went on sale for under $20,000, but good luck getting it
The cheapest Toyota EV just went on sale for under $20,000, but good luck getting it Show Caption Hide Caption China's internal EV war heats up as officials at BYD, Huawei trade criticisms A battle over electric vehicles is unfolding in China, with officials at rival brands BYD and Huawei exchanging some verbal barbs. Straight Arrow News When you're able to offer an EV with 267 miles of driving range, an impressive driver-assist suite, and decent styling for under $20,000, you better believe it's going to be popular. That's exactly what the 2026 Toyota bZ3X did in China, and the launch was so well received that it crashed Toyota-GACs order servers for some time. Let's look at what we're missing. The bZ3X — known as the Bozhi 3X, or Platinum 3X when translated — is a small all-electric crossover SUV made for the Chinese market through the Toyota-GAC (Guangzhou Automobile Group Company) joint venture. It had a soft pre-launch in December where it was offered for around $14,000, but in March Toyota officially opened its order books for its cheapest EV in China. It was so cheap that it secured over 10,000 orders in just one hour and overwhelmed their servers. To put that into perspective, according to Electrek, the BYD Atto 3 is similarly sized but is nearly $1,000 more expensive to start. Affordable electric vehicles: Toyota teases smaller, cheaper compact EV SUV There are two models with two battery pack sizes and five trim options available for the bZ3X. The base model without any full self-driving technology and other complicated ADAS features from Nvidia called the Nvidia Drive AGX Orin X, starts at 109,800 yuan or around $15,000. If you opt in for the Nvidia technology, add another 40,000 yuan for around $20,500. The standard battery pack is the 430 Air, a 50.03 kWh lithium iron phosphate (LFP) pack good for up to 267 miles of range. The larger '610 Max' offers a battery with up to 370 miles of range with its 67.92 kWh LFP pack. Inside is a bit of a home-away-from-home design that's very popular in China. All seats fold flat to offer up to 10 feet of nearly flat surface to lounge in. The 14.6-inch infotainment screen offers massive views for this price point, but the instrument panel consists of an 8.8-inch digital display. It's also a very simple dashboard layout with no other buttons save for the start and hazard light switches, but the HVAC vents are discrete. Electric muscle cars hit the market: Is the EV Dodge Charger Daytona Scat Pack a real muscle car? As it's a joint venture build with GAC for China, it's unlikely that it will ever be brought over due to the Biden-era rules still in place effectively banning Chinese-built vehicles in the U.S. Even if they were to overcome those rules, the current — and in constant flux — tariff situation would make the bZ3X far more expensive to sell here after taking importation into account. It would not cost $15,000, in other words, a shame considering one of the barriers to entry to EVs is their often richer pricing versus equivalent gas-powered offerings. That said, in 2025, pricing in general represents a huge hurtle to new vehicle ownership, regardless of what power source you go with. Currently, the cheapest vehicle on sale here in the U.S. is the Nissan Versa S at $18,330, but who knows how long the Versa will continue to be produced with everything going on at Nissan, along with the industry's drift away from small, affordable vehicles (the subcompact segment that the Versa competes in, after all, is down to only two models — soon to be one). Above those, no new vehicle starts at under $20,000, with the next cheapest being the 2025 Chevrolet Trax at $21,495. If Toyota could find a way to bring over the bZ3X or something like it, it could be a huge win, but pulling off such a cheap price outside of the Chinese market would be nearly impossible. Photos by manufacturer
