Masayoshi Shirayanagi and Makoto Kitano at a press meet in Tokyo. Associated Press
Uber’s autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corporation, giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering.
Japanese automakers posted sharper sales falls in South Korea in August, industry data showed on Wednesday, hit by a consumer boycott of Japanese vehicles amid a worsening
Toyota Motor Corporation lowered its annual operating profit forecast while Honda Motor turned in a double-digit decline in quarterly earnings as a resurgent yen hurt two of Japan’s biggest automakers.
Toyota Motor Corporation said that it planned to build a prototype ‘city of the future’ at the base of Japan’s Mt. Fuji, powered by hydrogen fuel cells and functioning as a laboratory for autonomous cars, “smart homes,” artificial intelligence and other technologies.
Asian shares rose on Wednesday after a strong lead from Wall Street fuelled by hopes for additional U.S. economic stimulus and a coronavirus vaccine, but trade was choppy as some investors booked profits.
Healthy off-take on the back of festive season accelerated major automobile players’ year-on-year sales during November. However, some companies reported a slower off-take on the sequential basis.
Fitch downgraded Sri Lanka’s sovereign credit rating to ‘CCC’, warning the country’s debt levels were set to soar past 100% of GDP and that it was increasingly at risk of default.