A hydrogen-powered concept car is displayed at the Tokyo Motor Show. Agence France-Presse
Two top Japanese automakers said they planned to tighten their belts in the years ahead to free up cash to develop electric cars and ride-sharing services, underscoring the hard task ahead as traditional automakers face a rapidly changing industry. Toyota Motor Corporation, the country’s top automaker,
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.
Toyota Motor Corp last month announced two deals in China that were small in size but large in strategic planning. The automaker said it would establish a green-tech research institute with Tsinghua University and provide state-owned BAIC Group’s Foton unit with fuel-cell technology for buses.
Japan’s Toyota Motor Corporation and Panasonic Corporation said they plan to establish a joint venture (JV) to develop “connected” services to be used in homes and urban development. Operating officer of Toyota Masayoshi Shirayanagi and Managing Executive Officer of Panasonic Makoto Kitano were present during a press conference in Tokyo on Thursday
Brent crude futures for June declined 29 cents, or 0.4%, to $66.28 a barrel at 06:45 GMT while US West Texas Intermediate (WTI) crude futures for June fell 34 cents, or 0.5%, to $62.33 a barrel.
Spot gold was up 0.5% to $1,786.80 per ounce at 06:57 GMT while US gold futures gained 0.5% to $1,786.90 per ounce.
Sheikh Fahim Bin Sultan Al Qasimi, Chairman of the Department of Government Relations in Sharjah, stated that the department has enhanced the stature of the UAE, in general, and Sharjah, in particular,