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Toyota to form electric car technology venture with Mazda

Toyota to form electric car technology venture with Mazda

By Naomi Tajitsu and Maki Shiraki


TOKYO, Sept 28 (Reuters) Toyota Motor Corp is establishing a new venture to develop electric vehicle technology with partner Mazda Motor Corp, seeking to catch up with rivals in an increasingly frenetic race to produce more battery-powered cars. Policymakers in key markets like China are aggressively pushing a shift to electric cars over the next two to three decades, pressuring traditional automakers to crank up their electric vehicle (EV) plans - just as declining battery costs enable more power to be packed into cars. Toyota said in a statement the new company will develop technology for a range of electric cars, including minivehicles, passenger cars, SUVs and light trucks. Toyota will take a 90 percent stake in the joint venture, called EV Common Architecture Spirit Co Ltd, while Mazda and Denso Corp, Toyota's biggest supplier, will each take a 5 percent stake. The plans build on a partnership announced in August when Japan's biggest automaker agreed to take a 5 percent stake in Mazda and two said they would jointly develop affordable electric vehicle technologies. After years of focusing on bringing hydrogen fuel cell vehicles to the market, Toyota last year set up a division to develop electric cars which is led by President Akio Toyoda, and said it plans to introduce EVs in China in the coming years. Neither Toyota nor Mazda market fully electric passenger cars at the moment. Toyota has cited affordability and the limited range of battery-operated cars as obstacles to the mass popularisation so far. Mazda has an R&D budget a fraction of Toyota's, which has made it difficult to develop electric cars on its own. Even so, it has said it plans to launch EVs in 2020. Shares in Mazda were up 3 percent after the announcement, while those in Denso were up 1.5 percent. Toyota shares were flat. REUTERS SV 1108

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Volvo launches new V60 versatile family estate

Volvo launches new V60 versatile family estate

22 Feb 2018 | 4:04 PM

Mumbai, Feb 22 (UNI)Premium car make Volvo Cars, today revealed the
new V60 five-door, mid-size premium estate, underlining the Swedish
company’s position as a maker of cars that combine good looks with
everyday practicality.

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Volvo launches new V60 versatile family estate

Volvo launches new V60 versatile family estate

22 Feb 2018 | 2:40 PM

New Delhi, Feb 22 (UNI) Volvo Cars, a premium carmaker, on Thursday revealed the new V60 five-door, mid-size premium estate, underlining the Swedish company’s position as a maker of cars that combine good looks with everyday practicality.

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Hyundai’s Next Gen Verna becomes India’s most awarded ‘Car of The Year’ 2018

Hyundai’s Next Gen Verna becomes India’s most awarded ‘Car of The Year’ 2018

21 Feb 2018 | 3:08 PM

New Delhi, Feb 21 (UNI) Hyundai Motor India Limited, country’s second largest manufacturer of passenger cars and the largest exporter since inception, on Wednesday announced the Next Gen Verna becoming India’s Most Awarded ‘Car of The Year’.

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TVS launches 125cc scooters in UP

TVS launches 125cc scooters in UP

19 Feb 2018 | 4:20 PM

Lucknow, Feb 19 (UNI) TVS Motor Company, a leading manufacturer of two-wheelers and three-wheelers in the world, on Monday unveiled its first 125cc scooter, TVSNTORQ 125 in Uttar Pradesh.

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Mahindra to Invest in Zoomcar

16 Feb 2018 | 2:29 PM

Mumbai, Feb 16 (UNI)Auto Major, Mahindra & Mahindra Ltd, today said that it would be investing in Zoomcar India Private Limited and in Zoomcar Inc, its US incorporated holding parent company, in keeping
with the Mahindra’s thrust on the Shared Mobility Business.

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