Posts tagged ‘Nissan Motor Company’

20/05/2015

Renault Unveils Its Cheapest New Car in India, the Kwid – India Real Time – WSJ

Renault S.A. unveiled on Wednesday an affordable small car in India as it seeks to expand its foothold in this growing automobile market.

Named Kwid, the car would have a 0.8 liter gasoline engine and go on sale during the festival season that starts around September, Carlos Ghosn, Renault’s chief executive, said after its unveiling. It would be priced between 300,000 rupees ($4,710) and 400,000 rupees ($6,280).

“The Kwid will be a big contributor to Renault’s growth in India followed by emerging markets and other parts of the world,” Mr. Ghosn said. The company is aiming to increase its market share in India to 5% from the current 1.5%, he added, without elaborating by when it hopes to do so.

via Renault Unveils Its Cheapest New Car in India, the Kwid – India Real Time – WSJ.

Advertisements
03/04/2015

Toyota to end expansion freeze, invest $1.3 billion in two new Mexico, China plants: sources | Reuters

Japan’s Toyota Motor Corp (7203.T) will spend about 150 billion yen ($1.3 billion) to build two new car plants in Mexico and China, two people familiar with plans said, ending a three-year freeze imposed after unchecked growth lumbered the world’s biggest auto maker with too many idle production lines.

A visitor walks under a logo of Toyota Motor Corp at the company's showroom in Tokyo February 4, 2015. REUTERS/Yuya Shino

Reuters reported in January that plans were in place for new plants in the two countries, awaiting a green light from top management that has now been given. President Akio Toyoda had been cautious about expanding after Toyota was hit by a capacity glut following the global financial crisis.

The new plants will raise Toyota’s annual production capacity by nearly 300,000 cars, the two people said – 200,000 in Mexico and up to 100,000 in China. They declined to be identified because they are not authorized to speak to the media, and said the expansion may be announced formally as early as this month.

The renewed expansion drive by Toyota will put more pressure on rivals such as General Motors Co (GM.N) and Volkswagen AG (VOWG_p.DE), in a global automotive industry still burdened by being able to make more cars than it can sell. The increase in global production capacity of up to 300,000 compares with sales of just over 10 million in 2014.

Immediately after the financial crisis, big carmakers were cautious about adding production capacity. Now, with demand in the United States back at pre-crisis levels and China’s auto market growing, albeit more slowly, expansion is back on the agenda.

via Toyota to end expansion freeze, invest $1.3 billion in two new Mexico, China plants: sources | Reuters.

14/02/2015

China surpasses affordable houses targets – Xinhua | English.news.cn

China completed the building of 5.11 million affordable houses in urban areas in 2014, with 2.29 million such projects under way, surpassing the goals set at the beginning of the year, the State Council announced at a press briefing on Friday.

The central government granted 198 billion yuan (32.35 billion U.S. dollars) to fund urban affordable housing projects in 2014, an increase of 25.1 billion yuan from the previous year, according to Qi Ji, deputy head of the Ministry of Housing and Urban-rural Development.

Throughout the past four years, more than 20 million affordable houses were completed, with 12 million under construction, and the assistance fund for building the houses has reached 710 billion yuan, according to Qi.

China has set goals to construct 36 million affordable houses, also called state-subsidized housing, public housing, or social housing, between the start of 2011 and the end of 2015.

“This year is the final year of the Twelfth Five-Year plan (2011-2015), and the government will accelerate the affordable housing project with a focus on transforming the shanty towns,” Qi said.

The Chinese government has been rolling out an affordable housing scheme since 2007, in an effort to provide homes to people unable to buy them at market prices. The efforts are also aimed at helping counter the slowdown in the property market in recent years.

via China surpasses affordable houses targets – Xinhua | English.news.cn.

Law of Unintended Consequences

continuously updated blog about China & India

ChiaHou's Book Reviews

continuously updated blog about China & India

What's wrong with the world; and its economy

continuously updated blog about China & India