PRESS RELEASE
- IALED technology allows car manufacturers to integrate headlamps with lowest power
consumption and fewest LEDs
Singapore, 16 September 2010 – Mainboard-listed Meiban Group and its associate company
i3 Lab today announced a breakthrough technology that allows cars to incorporate headlamps
that offer higher performance, lower power consumption and other benefits.
Known as Intelligent Automotive Light-Emitting Diode (IALED), the revolutionary technology was
developed by i3Lab. IALED is currently believed to be the world’s most efficient LED headlamp
module with the lowest power consumption and the fewest light-emitting diodes (LEDs).
Currently, car headlamps that incorporate existing LED technology uses minimum of 7 LEDs
(Source: Just-auto Global Market Review of Automotive Lighting - Forecasts to 2015. (2009
Edition) whereas IALED technology uses 1 LED in energy-saving mode (low beam).
Due to the reduction of emitter count, headlamps designed using IALED will have a maximum
power consumption of 10 watts (low beam). This represents a savings of 35W of energy
compared to existing 45W halogen car headlamp (low beam) – with no loss of lamp brightness.
Internal tests conducted by i3 Lab show that an IALED-based prototype headlamp offers better
illuminance than halogen headlamps, which are the most commonly used headlamp. For
example, a 10W IALED-based prototype provides better illuminance than a 45W halogen bulb
because LED colour temperature (5600K) is closer to daylight.
These product characteristics of IALED give Meiban Group and i3 Lab a significant edge in
terms of developing state-of-the-art LED technologies for car headlamps. According to a 2009
global market review of automotive lighting by just-auto.com (the leading online resource for the
automotive industry), by 2015 high-performance LED headlamps will typically incorporate one
emitter count, down from the current figure of seven. Yet, IALED allows car manufacturers to
incorporate headlamps with as few as one LED (low beam) – not in five years, but today!
Using IALED, car manufacturers will be able to incorporate headlamps that offer better visibility,
higher brightness and reduced glare with lower power usage. Car headlamps that integrate
IALED will also have a longer lifespan and provide better fuel efficiency. This will indirectly lead
to reducing carbon emission.
“Today i3 Lab is proud to bring to the world a revolutionary technology IALED, allowing LEDs to
be affordable and available to all car makers, elevating the standard of car lighting system
globally. LEDs will no longer be only the privilege of luxury cars,” says Ms Carol Goh, Executive
Vice President of Meiban Group.
“Through clever innovation of LED headlamp technology, we are able to optimize the design of
IALED to achieve equivalent or better performance than existing products at an affordable cost.
We believe this will have huge potential and drive market adoption for LED lighting especially in
Electric Vehicles (EV), motorcycles and other similar applications. Our future innovations will
include more intelligent lighting system like AFL (Adaptive Front Lighting) WITHOUT moving
mechanism, that provides additional sensing and detection of environmental and adverse road
conditions for driving.” says, Mr Sim Lye Hock, Chief Technology Officer of i3 Lab.
To commercialise IALED, Meiban Group and i3 Lab intend to target manufacturers of low to
mid-range cars in Asia, which currently is a growing market.
To undertake further research and development on IALED-based products, we will expand our
Singapore R&D team to 11 man-strong and a new testing lab will also be set up. The R&D
facility will focus on LED automotive lighting such as Adaptive Front lighting that uses no moving
mechanism for directional headlamp. We believe the advancement in R&D efforts can make
driving experience safer and more enjoyable.
Meiban Group and i3 Lab also intend to embark on efforts to market the IALED technology by
attending major international car shows and trade missions organised by IE Singapore.
“IE Singapore assists local enterprises to export their technology to overseas markets and to
leverage on Singapore’s brand image as a hub for technology in Asia. We would like to
encourage traditional Precision Engineering companies to enhance their core product offerings
through innovation, research and product development. The IALED project is an excellent
example achieved through successful collaboration with a technology partner, and IE Singapore
is ready to support the internationalisation efforts with our enhancement schemes in the areas
of Branding, Design as well as IP Acquisition,” said Mr Yew Sung Pei, Assistant Chief Executive
Officer, IE Singapore.
“We are pleased to have home-grown companies like Meiban Group and i3 Lab bringing their
strengths together to innovate in technology, develop and manufacture new products to capture
emerging business opportunities in Asia. This is a good manifestation of the transformation of
our $23b precision engineering industry, extending our strong supplier capabilities into product
and solutions development,” said Mr Chang Chin Nam, Director, Precision Engineering,
Singapore Economic Development Board.
“Meiban Group believes in Innovation and the potential return on investment innovation can
bring. The partnership between Meiban Group and i3 Lab is a fine example of breakthrough
innovation that combines Meiban Group’s strengths in contract manufacturing with i3 Lab’s
expertise in optics engineering. Our IALED technology can revolutionise the car headlamp
market to improve performance, reduce cost for the drivers and help preserve the environment.
We are grateful to our Singapore Government agencies such as EDB and IE Singapore for their
support to local inventions and industry.” said Mr. George Goh, Executive Chairman of Meiban
Group Ltd.
Showing posts with label Meiban Group Ltd. Show all posts
Showing posts with label Meiban Group Ltd. Show all posts
Thursday, November 25, 2010
Saturday, October 2, 2010
Car sales slow in US as India accelerates
NEW YORK - Car sales in the United States, Europe and Japan stayed stuck in low gear in September, while emerging markets like India raced ahead.
The loss of government incentives to buy new cars in Europe and Japan led to steep sales drops from a year ago, but US sales bounced back from unusually low levels in September 2009, the month after the US "cash for clunkers" program expired.
The global auto industry's recovery from the financial crisis has been patchy and largely reliant on growth in countries such as China and India, as well as government subsidies and incentives to revive demand.
India's top automakers reported strong September sales, fueled by the country's robust economic growth, but car sales in Japan fell for the first time in 14 months in September after government incentives dried up.
"Overall, I am not that pessimistic about auto demand worldwide," said Lee Sang-hyun, an analyst at NH Investment & Securities in Seoul. "Although demand in the US and Europe is sluggish, sales are growing in emerging markets."from a year earlier, the third month of double-digit declines following an end to government subsidies.
In France, sales of new passenger cars fell 8.1 percent in September, while Italy's new car sales fell 18.9 percent as the loss of incentives to buy less-polluting cars weighed on demand.
In Korea, Hyundai Motors saw year-on-year sales growth of 1.8 percent in September.
Hyundai, the world's fifth-largest carmaker along with its affiliate Kia Motors, benefited from Beijing's subsidies for fuel-efficient models in China, while its Sonata sedan posted strong sales in the United States, analysts said.
Leading US carmakers all reported double-digit percentage gains from a year ago, but General Motors Co said it expected industry-wide sales in September were lower than in August.
GM posted a year-on-year sales gain of 10.5 percent, while Ford Motor Co reported a rise of 46 percent and Chrysler Group said its sales jumped 61 percent.
Hope Emerging
At the Paris Auto Show this week, top carmakers let cautious optimism creep into their outlooks as they looked to emerging markets to dispel the dark clouds over Western economies.
Fiat Chief Executive Sergio Marchionne said the Italian carmaker expects to report a net profit this year as good sales in Latin America this month helped offset weaknesses in Italy and elsewhere in Europe.
The European sales chief for Volkswagen, Europe's biggest carmaker, forecast the global car market will grow by 6-7 percent this year.
Sales at India's top automakers remained robust in September, up as much as 30 percent on a year ago and showing no signs of slowing.
Sales at Maruti Suzuki, India's top carmaker, grew almost 30 percent in September from a year earlier, accelerating from August.
But Japanese sales, after holding up surprisingly well in August, fell 4.1 percent excluding 660cc minivehicles, the Japan Automobile Dealers Association said.
Sales in Japan are expected to come under further pressure after the government stopped accepting applications for its green-car subsidy program last month.
Toyota Motor Corp had been a big beneficiary of the program, particularly with sales of its hybrid flagship Prius. But Toyota's domestic dealership orders fell more than 40 percent in September after funds allocated to the cash-for-clunkers scheme were almost exhausted, the Nikkei business daily reported.
Christopher Richter, an auto analyst at CLSA Asia-Pacific Markets in Tokyo, expected the pattern in Japan to be a repeat of what had happened in Germany -- a period of good sales followed by some very poor sales.
"The makers that are going to get hit the worst by this are going to be first Toyota followed by Honda because these subsidies were constructed to give the maximum subsidy to those who bought the most fuel efficient vehicles," he said.
"When we get into the fully bad month of October probably everybody is going to be down."
India Sales Grow
With demand in developed markets lackluster, global automakers have been increasing their focus on faster-growing regions such as China, now the world's largest auto market, and India.
Sales at Maruti Suzuki, India's top car maker, grew almost 30 percent in September from a year earlier, accelerating from August.
The company, which sells one of every two cars in India, said on Thursday it expects to sell 1.2 million vehicles in the current fiscal year that ends next March, up about a fifth on last year's sales.
"The volume growth is high because economic factors are supportive. The base effect will catch up from the next month for the major auto makers," said Vaishali Jajoo, auto analyst at Mumbai's Angel Broking.
"While rate of growth may taper off, in absolute numbers, I think sales will remain strong."
(Agencies)
The loss of government incentives to buy new cars in Europe and Japan led to steep sales drops from a year ago, but US sales bounced back from unusually low levels in September 2009, the month after the US "cash for clunkers" program expired.
The global auto industry's recovery from the financial crisis has been patchy and largely reliant on growth in countries such as China and India, as well as government subsidies and incentives to revive demand.
India's top automakers reported strong September sales, fueled by the country's robust economic growth, but car sales in Japan fell for the first time in 14 months in September after government incentives dried up.
"Overall, I am not that pessimistic about auto demand worldwide," said Lee Sang-hyun, an analyst at NH Investment & Securities in Seoul. "Although demand in the US and Europe is sluggish, sales are growing in emerging markets."from a year earlier, the third month of double-digit declines following an end to government subsidies.
In France, sales of new passenger cars fell 8.1 percent in September, while Italy's new car sales fell 18.9 percent as the loss of incentives to buy less-polluting cars weighed on demand.
In Korea, Hyundai Motors saw year-on-year sales growth of 1.8 percent in September.
Hyundai, the world's fifth-largest carmaker along with its affiliate Kia Motors, benefited from Beijing's subsidies for fuel-efficient models in China, while its Sonata sedan posted strong sales in the United States, analysts said.
Leading US carmakers all reported double-digit percentage gains from a year ago, but General Motors Co said it expected industry-wide sales in September were lower than in August.
GM posted a year-on-year sales gain of 10.5 percent, while Ford Motor Co reported a rise of 46 percent and Chrysler Group said its sales jumped 61 percent.
Hope Emerging
At the Paris Auto Show this week, top carmakers let cautious optimism creep into their outlooks as they looked to emerging markets to dispel the dark clouds over Western economies.
Fiat Chief Executive Sergio Marchionne said the Italian carmaker expects to report a net profit this year as good sales in Latin America this month helped offset weaknesses in Italy and elsewhere in Europe.
The European sales chief for Volkswagen, Europe's biggest carmaker, forecast the global car market will grow by 6-7 percent this year.
Sales at India's top automakers remained robust in September, up as much as 30 percent on a year ago and showing no signs of slowing.
Sales at Maruti Suzuki, India's top carmaker, grew almost 30 percent in September from a year earlier, accelerating from August.
But Japanese sales, after holding up surprisingly well in August, fell 4.1 percent excluding 660cc minivehicles, the Japan Automobile Dealers Association said.
Sales in Japan are expected to come under further pressure after the government stopped accepting applications for its green-car subsidy program last month.
Toyota Motor Corp had been a big beneficiary of the program, particularly with sales of its hybrid flagship Prius. But Toyota's domestic dealership orders fell more than 40 percent in September after funds allocated to the cash-for-clunkers scheme were almost exhausted, the Nikkei business daily reported.
Christopher Richter, an auto analyst at CLSA Asia-Pacific Markets in Tokyo, expected the pattern in Japan to be a repeat of what had happened in Germany -- a period of good sales followed by some very poor sales.
"The makers that are going to get hit the worst by this are going to be first Toyota followed by Honda because these subsidies were constructed to give the maximum subsidy to those who bought the most fuel efficient vehicles," he said.
"When we get into the fully bad month of October probably everybody is going to be down."
India Sales Grow
With demand in developed markets lackluster, global automakers have been increasing their focus on faster-growing regions such as China, now the world's largest auto market, and India.
Sales at Maruti Suzuki, India's top car maker, grew almost 30 percent in September from a year earlier, accelerating from August.
The company, which sells one of every two cars in India, said on Thursday it expects to sell 1.2 million vehicles in the current fiscal year that ends next March, up about a fifth on last year's sales.
"The volume growth is high because economic factors are supportive. The base effect will catch up from the next month for the major auto makers," said Vaishali Jajoo, auto analyst at Mumbai's Angel Broking.
"While rate of growth may taper off, in absolute numbers, I think sales will remain strong."
(Agencies)
Thursday, September 30, 2010
BEIJING - Beijing Automotive Industry Holding Corp (BAIC), the Chinese partner of Daimler AG and Hyundai Motor Corp, plans to launch more than 20 passenger vehicle models under its own brand by 2014, mainly based on acquired core technologies from Swedish brand Saab.
The fifth-biggest Chinese auto group said during the Beijing auto show that its own-brand passenger vehicles will include a subcompact, compact, mid-sized and large-sized sedans as well as light and heavy-duty sports-utility vehicles (SUVs) and crossovers.
BAIC will roll out three models later this year, a B40 light-duty SUV, a C30 subcompact car and a J30 crossover, it said.
The company bought Saab 9-5 and 9-3 models as well as its engine technologies for $200 million last December. But it didn't buy the Saab brand, which was acquired by small Dutch automaker Spyker Cars NV in February.
BAIC's planned passenger vehicle models will be under its own badge Beijing. The Beijing marque was born in 1958, but abandoned soon afterwards.
According to executives from BAIC, the group aims to sell 100,000 own-brand passenger vehicles next year. By 2015, it plans to have an annual production capacity of 550,000 passenger vehicles and boost sales to 400,000 units.
Construction of a 150,000-unit plant for Beijing-brand passenger vehicles kicked off earlier this year in Beijing.
BAIC is also making inroads into China's burgeoning market for new-energy passenger vehicles.
Last November, it registered a branch focusing on research and development of new-energy vehicles, including purely electric cars, petrol-electric hybrid vehicles and other alternative energy vehicles.
It said it will begin small-volume production of new-energy vehicles later this year.
It aims to boost production of new-energy passenger vehicles to 150,000 units a year by 2015.
The group said its purely electric lineup will cover a range from low to high-end vehicles. Prices are estimated to be 10,000 to 90,000 yuan higher than the comparable models powered by conventional fuels.
With declining technology costs and government subsidies, purely electric vehicles have rosy market prospects, BAIC said.
The group now runs joint ventures with Daimler and Hyundai to make premium Mercedes-Benz cars and Hyundai-brand cars.
It is also making its own-brand Foton trucks.
In the first quarter of this year, BAIC's total sales jumped by 43.9 percent year-on-year to 360,000 units. Its first-quarter profits skyrocketed by 162.4 percent to 2.23 billion yuan.
The Group Chairman Xu Heyi said earlier that it planned to move a total of 1.24 million vehicles this year, up 60 percent from 2009.
By Lao Gong (China Daily)
The fifth-biggest Chinese auto group said during the Beijing auto show that its own-brand passenger vehicles will include a subcompact, compact, mid-sized and large-sized sedans as well as light and heavy-duty sports-utility vehicles (SUVs) and crossovers.
BAIC will roll out three models later this year, a B40 light-duty SUV, a C30 subcompact car and a J30 crossover, it said.
The company bought Saab 9-5 and 9-3 models as well as its engine technologies for $200 million last December. But it didn't buy the Saab brand, which was acquired by small Dutch automaker Spyker Cars NV in February.
BAIC's planned passenger vehicle models will be under its own badge Beijing. The Beijing marque was born in 1958, but abandoned soon afterwards.
According to executives from BAIC, the group aims to sell 100,000 own-brand passenger vehicles next year. By 2015, it plans to have an annual production capacity of 550,000 passenger vehicles and boost sales to 400,000 units.
Construction of a 150,000-unit plant for Beijing-brand passenger vehicles kicked off earlier this year in Beijing.
BAIC is also making inroads into China's burgeoning market for new-energy passenger vehicles.
Last November, it registered a branch focusing on research and development of new-energy vehicles, including purely electric cars, petrol-electric hybrid vehicles and other alternative energy vehicles.
It said it will begin small-volume production of new-energy vehicles later this year.
It aims to boost production of new-energy passenger vehicles to 150,000 units a year by 2015.
The group said its purely electric lineup will cover a range from low to high-end vehicles. Prices are estimated to be 10,000 to 90,000 yuan higher than the comparable models powered by conventional fuels.
With declining technology costs and government subsidies, purely electric vehicles have rosy market prospects, BAIC said.
The group now runs joint ventures with Daimler and Hyundai to make premium Mercedes-Benz cars and Hyundai-brand cars.
It is also making its own-brand Foton trucks.
In the first quarter of this year, BAIC's total sales jumped by 43.9 percent year-on-year to 360,000 units. Its first-quarter profits skyrocketed by 162.4 percent to 2.23 billion yuan.
The Group Chairman Xu Heyi said earlier that it planned to move a total of 1.24 million vehicles this year, up 60 percent from 2009.
By Lao Gong (China Daily)
Wednesday, September 29, 2010
Michelin goes for growth with shock capital rise
PARIS — Global tyre manufacturer Michelin revealed an aggressive drive into fast-growing emerging markets on Tuesday, with a big capital increase which shocked investors and pushed down its shares.
The surprise announcement that the France-based group would raise 1.2 billion euros (1.6 billion dollars) with a preference issue for shareholders, but at a 31.0-percent discount to the last quoted price, drove Michelin shares down by 11.52 percent to 57.74 euros in midday trading.
Michelin pitched the issue price for the new shares at 45 euros per share, well below the price of 65.26 euros at the close of trading on Monday.
"The price proposed was not disappointing, but the drop is very big," said Xavier de Villepion, a trader at Global Equities.
Michelin said its plan was to quadruple sales in developing markets and chief executive Michel Rollier said the group intended to boost sales by a quarter within five years and by half in the next 10 years.
"The message, is to accelerate growth," Michelin's chief executive Michel Rollier told reporters. "The prospects for growth in world markets are considerable."
Michelin, known as a supplier of tyres for cars, trucks and aircraft around the world, and for its brand logo of a man made of tyres, said that the capital increase would enable it raise investment in 2011 to 1.6 billion euros from 1.2 billion euros.
The new capital would be used to drive up growth. In emerging markets, growth was expected to rocket from 2.0 to 2.5 percent per year now to 8.0-9.0 percent.
The strategy was intended to double sales in emerging markets, and in mature markets the group intended to raise sales by 25 percent by 2015, Rollier said.
The company said that the capital increase would strengthen its credit rating, and "in a general way, improve the group's financial flexibility."
At Global Equities, De Villepion said that the announcement by Michelin was timed to make best use of a recent rise in the price of shares in the company.
In July, Michelin reported a first-half net profit of 503 million euros compared to a loss of 119 million euros in the same period in 2009.
Michelin said at the time that it was benefiting from an extraordinarily strong recovery of the market for tyres.
Trading conditions in the auto sector, an important global economic indicator, improved in the first half this year after being hit by a slump in demand at the height of the economic downturn.
Sales in Europe and the US have slowed in recent months as many countries wind down cash cash-for-clunkers programmes launched last year to prop up the ailing sector during the crisis.
Much of the demand for new vehicles is coming from emerging markets, particularly in Asia.
Sales in China this year are forecast to reach 15 million units, an increase of about 20 percent on a yearly comparison.
In India, Asia's third-biggest auto market, sales are projected to triple over the next decade to six million cars a year from the current two million, according to industry estimates.
The surprise announcement that the France-based group would raise 1.2 billion euros (1.6 billion dollars) with a preference issue for shareholders, but at a 31.0-percent discount to the last quoted price, drove Michelin shares down by 11.52 percent to 57.74 euros in midday trading.
Michelin pitched the issue price for the new shares at 45 euros per share, well below the price of 65.26 euros at the close of trading on Monday.
"The price proposed was not disappointing, but the drop is very big," said Xavier de Villepion, a trader at Global Equities.
Michelin said its plan was to quadruple sales in developing markets and chief executive Michel Rollier said the group intended to boost sales by a quarter within five years and by half in the next 10 years.
"The message, is to accelerate growth," Michelin's chief executive Michel Rollier told reporters. "The prospects for growth in world markets are considerable."
Michelin, known as a supplier of tyres for cars, trucks and aircraft around the world, and for its brand logo of a man made of tyres, said that the capital increase would enable it raise investment in 2011 to 1.6 billion euros from 1.2 billion euros.
The new capital would be used to drive up growth. In emerging markets, growth was expected to rocket from 2.0 to 2.5 percent per year now to 8.0-9.0 percent.
The strategy was intended to double sales in emerging markets, and in mature markets the group intended to raise sales by 25 percent by 2015, Rollier said.
The company said that the capital increase would strengthen its credit rating, and "in a general way, improve the group's financial flexibility."
At Global Equities, De Villepion said that the announcement by Michelin was timed to make best use of a recent rise in the price of shares in the company.
In July, Michelin reported a first-half net profit of 503 million euros compared to a loss of 119 million euros in the same period in 2009.
Michelin said at the time that it was benefiting from an extraordinarily strong recovery of the market for tyres.
Trading conditions in the auto sector, an important global economic indicator, improved in the first half this year after being hit by a slump in demand at the height of the economic downturn.
Sales in Europe and the US have slowed in recent months as many countries wind down cash cash-for-clunkers programmes launched last year to prop up the ailing sector during the crisis.
Much of the demand for new vehicles is coming from emerging markets, particularly in Asia.
Sales in China this year are forecast to reach 15 million units, an increase of about 20 percent on a yearly comparison.
In India, Asia's third-biggest auto market, sales are projected to triple over the next decade to six million cars a year from the current two million, according to industry estimates.
Tuesday, September 28, 2010
Vice-premier urges development of China's auto parts industry
BEIJING - Chinese Vice-premier Zhang Dejiang has urged more efforts to develop China's auto parts industry and new energy vehicles, to increase the international competitiveness of the nation's auto sector.
Auto-part producers should step up self-development of core technologies and form their own brands to advance the sector, Zhang said during his visit to the China International Auto Parts Expo in Beijing on Sept 26.
"Quality should always come first," he said.
Improving the design and manufacturing level of the auto parts industry is "crucial" to the nation's auto sector, Zhang said.
"China's auto industry has overcome the severe impact of the financial crisis and achieved great progress," Zhang said.
(Xinhua)
However, he noted that the overall industry is not strong despite its large volumes of production and sales.
China overtook the United States to become the world's largest auto maker and auto market in 2009.
Output and sales both expanded by more than 40 percent to reach 13.79 million and 13.64 million units, respectively, last year, due to the government's tax reduction on car purchases and other stimulus measures.
In the first eight months of the year, auto sales to dealers totaled 11.58 million units, up 39.02 percent year on year, while output rose 39.27 percent from a year ago to 11.49 million units.
Automakers should work to promote new energy cars, to upgrade the auto industry, he said.
The Chinese government launched a subsidy program to promote green cars purchases in July. Under the scheme, buyers of cars designated "fuel-saving" receive a subsidy of 3,000 yuan ($447) on each vehicle purchase.
(Xinhua)
Auto-part producers should step up self-development of core technologies and form their own brands to advance the sector, Zhang said during his visit to the China International Auto Parts Expo in Beijing on Sept 26.
"Quality should always come first," he said.
Improving the design and manufacturing level of the auto parts industry is "crucial" to the nation's auto sector, Zhang said.
"China's auto industry has overcome the severe impact of the financial crisis and achieved great progress," Zhang said.
(Xinhua)
However, he noted that the overall industry is not strong despite its large volumes of production and sales.
China overtook the United States to become the world's largest auto maker and auto market in 2009.
Output and sales both expanded by more than 40 percent to reach 13.79 million and 13.64 million units, respectively, last year, due to the government's tax reduction on car purchases and other stimulus measures.
In the first eight months of the year, auto sales to dealers totaled 11.58 million units, up 39.02 percent year on year, while output rose 39.27 percent from a year ago to 11.49 million units.
Automakers should work to promote new energy cars, to upgrade the auto industry, he said.
The Chinese government launched a subsidy program to promote green cars purchases in July. Under the scheme, buyers of cars designated "fuel-saving" receive a subsidy of 3,000 yuan ($447) on each vehicle purchase.
(Xinhua)
Monday, September 27, 2010
Nissan and Dongfeng create new car brand
BEIJING - Nissan Motor Co last week unveiled a plan to create an non-Nissan car brand in China with local partner Dongfeng Motor Corp.
The joint venture, Dongfeng Motor Co Ltd, plans to make passenger cars under the all-new Venucia brand that will be first released in a series of concept and production cars at the end of the year.
The first Venucia model will be put on sale during the first half of 2012, the joint venture said.
The program makes Nissan the second foreign carmaker in China after Honda Motor Co to create an all-new brand without its parent company badge.
Honda announced in 2009 that it would produce the Everus-brand high-end cars in China with its joint venture partner Guangzhou Automobile Corp.
The two Japanese carmakers' new-brand campaign signals hyper-competition in China's vehicle market - the world's biggest - in the near future.
There will be more than 90 brands and 300 locally made models in China's passenger vehicle market contesting for buyers by 2015, according to market research firm JD Power.
Their new-brand plans also play to the Chinese regulators' expectations for foreign carmakers to strengthen new product research and development in China, instead of only assembling their own-brand passenger cars here.
All of Sino-foreign passenger car joint ventures are now offering foreign-badge models to Chinese customers.
Nissan's joint venture with Dongfeng Motor Corp are making the Japanese carmaker's Teana mid-sized sedan, Sylphy and Tiida compact car, March subcompact and Qashqai crossover, Livina MPV, and X-Trail and Paladin SUVs.
In the first half of this year, the joint venture's passenger car sales surged by 47 percent year-on-year to 330,776 units, ranking No 4 in China.
The company expects to sell more than 600,000 passenger cars this year, up from 500,000 units in 2009.
It is building a new 300,000-unit passenger car plant with an investment of 5 billion yuan in southern city of Guangzhou. The new factory, to be operational in 2012, will hike the joint venture's annual production capacity to 1 million passenger cars.
Since the tie-up was established in 2003, it has moved a total of more than 2 million cars.
The joint venture is also building Dongfeng-brand commercial vehicles.
Overall vehicle sales in China totaled 9.02 million units in the first half, up 47.67 percent from a year ago, according to the China Association of Automobile Manufacturers.
Full-year vehicles sales in China are predicted to surpass 16 million units, up from 14.7 million units last year.
China Daily
The joint venture, Dongfeng Motor Co Ltd, plans to make passenger cars under the all-new Venucia brand that will be first released in a series of concept and production cars at the end of the year.
The first Venucia model will be put on sale during the first half of 2012, the joint venture said.
The program makes Nissan the second foreign carmaker in China after Honda Motor Co to create an all-new brand without its parent company badge.
Honda announced in 2009 that it would produce the Everus-brand high-end cars in China with its joint venture partner Guangzhou Automobile Corp.
The two Japanese carmakers' new-brand campaign signals hyper-competition in China's vehicle market - the world's biggest - in the near future.
There will be more than 90 brands and 300 locally made models in China's passenger vehicle market contesting for buyers by 2015, according to market research firm JD Power.
Their new-brand plans also play to the Chinese regulators' expectations for foreign carmakers to strengthen new product research and development in China, instead of only assembling their own-brand passenger cars here.
All of Sino-foreign passenger car joint ventures are now offering foreign-badge models to Chinese customers.
Nissan's joint venture with Dongfeng Motor Corp are making the Japanese carmaker's Teana mid-sized sedan, Sylphy and Tiida compact car, March subcompact and Qashqai crossover, Livina MPV, and X-Trail and Paladin SUVs.
In the first half of this year, the joint venture's passenger car sales surged by 47 percent year-on-year to 330,776 units, ranking No 4 in China.
The company expects to sell more than 600,000 passenger cars this year, up from 500,000 units in 2009.
It is building a new 300,000-unit passenger car plant with an investment of 5 billion yuan in southern city of Guangzhou. The new factory, to be operational in 2012, will hike the joint venture's annual production capacity to 1 million passenger cars.
Since the tie-up was established in 2003, it has moved a total of more than 2 million cars.
The joint venture is also building Dongfeng-brand commercial vehicles.
Overall vehicle sales in China totaled 9.02 million units in the first half, up 47.67 percent from a year ago, according to the China Association of Automobile Manufacturers.
Full-year vehicles sales in China are predicted to surpass 16 million units, up from 14.7 million units last year.
China Daily
Nissan to double China capacity to tap hot market
(Agencies)-Japan's Nissan Motor Co Ltd plans to double its production capacity in China to 1.2 million units by 2012, as it aims for a 10 percent share of China auto market, Reuters reported Monday.
The new production plan is 20 percent above Nissan's earlier target, said the report.
The auto company on Monday announced the opening of its first sport utility vehicle (SUV) plant in Zhengzhou, capital city of the central China Henan province.
Nissan represents 20 percent of total sales in China, and holds the number one position, Reuters citing Chief Executive Carlos Ghosn's speech at the opening ceremony for its new SUV plant.
Nissan was expanding its other two production bases in southern Guangzhou and Xiangfen in northern Shanxi province, Reuters quoted Ghosn.
Nissan's new SUV plant in Zhengzhou has a total investment of 1 billion yuan ($148.7 million), and will be run by Zhengzhou Nissan Co Ltd, a joint venture between Nissan and Dongfeng, according to the report.
Nissan, 44 percent held by France's Renault SA, runs an auto venture with Hong Kong-listed Dongfeng Motor Group Co Ltd (DFG) making passenger vehicles, including the Teana and Sylphy sedans. Commercial vehicles are built through Shanghai-listed Dongfeng Automobile Co Ltd and Zhengzhou Nissan Automobile Co, both of which Nissan controls with DFG.
DFG also joined hands with French PSA Peugeot Citroën, and Japanese Honda Motor Co. The parent Dongfeng Motor Corporation is in joint venture with Korean Kia Motors Corp.
Passenger car deliveries in China jumped nearly 60 percent from a year earlier, as economic growth boosts car purchases in the world's biggest automobile market.
The new production plan is 20 percent above Nissan's earlier target, said the report.
The auto company on Monday announced the opening of its first sport utility vehicle (SUV) plant in Zhengzhou, capital city of the central China Henan province.
Nissan represents 20 percent of total sales in China, and holds the number one position, Reuters citing Chief Executive Carlos Ghosn's speech at the opening ceremony for its new SUV plant.
Nissan was expanding its other two production bases in southern Guangzhou and Xiangfen in northern Shanxi province, Reuters quoted Ghosn.
Nissan's new SUV plant in Zhengzhou has a total investment of 1 billion yuan ($148.7 million), and will be run by Zhengzhou Nissan Co Ltd, a joint venture between Nissan and Dongfeng, according to the report.
Nissan, 44 percent held by France's Renault SA, runs an auto venture with Hong Kong-listed Dongfeng Motor Group Co Ltd (DFG) making passenger vehicles, including the Teana and Sylphy sedans. Commercial vehicles are built through Shanghai-listed Dongfeng Automobile Co Ltd and Zhengzhou Nissan Automobile Co, both of which Nissan controls with DFG.
DFG also joined hands with French PSA Peugeot Citroën, and Japanese Honda Motor Co. The parent Dongfeng Motor Corporation is in joint venture with Korean Kia Motors Corp.
Passenger car deliveries in China jumped nearly 60 percent from a year earlier, as economic growth boosts car purchases in the world's biggest automobile market.
Ford to build engine plant in Chongqing
Changan Ford Mazda Automobile Co will spend $500 million to build an engine plant in Southwest China's Chongqing, Bloomberg reported Saturday.
The plant will increase Ford's engine capacity by 400,000 units in China, the report said, citing an e-mail statement from the company.
Construction of this plant will begin next year, and engine production will start in 2013, Ford officials said in the statement. By then, production will more than double the current level.
The plant will increase Ford's engine capacity by 400,000 units in China, the report said, citing an e-mail statement from the company.
Construction of this plant will begin next year, and engine production will start in 2013, Ford officials said in the statement. By then, production will more than double the current level.
Tyre prices here expected to inflate
SINGAPORE - Motorists should brace themselves for higher tyre prices as global demand for rubber bounces up and manufacturers face the biggest shortage in four years. Tyre manufacturers in Japan and China have told dealers here to expect price increases come December, according to Singapore Motor Tyre Dealers Association chairman Lim Gek Choon.
Since January, manufacturers have rolled out at least two price increases of between 5 and 7 per cent, dealers say. This has translated to higher retail prices. For example, a mid-range 15-inch Yokohama tyre that cost $120 eight months ago will cost $130 when the latest increase kicks in next month.
Two weeks ago, Goodyear announced it would charge more for its tyres in the United States, while last month Bridgestone raised European prices for the second time this year.
Prices are expected to climb as China's growth and the recovery in Europe and the US drive the global surge in rubber demand, while a poor harvest this year has led to diminishing stockpiles.
Futures may climb as much as 14 per cent to US$4 ($5.30)a kilogramme by March on the Singapore Commodity Exchange, according to the median estimate of nine brokers and analysts surveyed by Bloomberg.
Mr Ler Hwee Tiong, who runs sales portal Tyrepac.com and has been in the business for 15 years, said retailers would "try to absorb" any price increases. "But this cannot be prolonged because of various factors such as cost of running a business. Usually, down the road, say, in one to two months, we will have to push the cost to consumers. It is inevitable," he told MediaCorp.
Currency movement may help to cushion any increases. For example, the weak US dollar has helped Stamford Tyres "compensate" for warehouse costs despite two rounds of price increases, said company president Wee Kok Wah. "As a result, based on the retail price in Singapore dollars, we have not done much in terms of price increase," he added.
The company, which implemented a 5-per-cent price increase in May, will assess the situation after January. But Mr Wee expects tyre prices for passenger cars, light trucks and sports utilities vehicles to be maintained. "I don't think there is a shortage of tyres but there is a shortage of rubber," he added.
With natural rubber making up half the cost of a tyre, industry players expect the quantum of price increases to be small, similar to those seen this year. "They (manufacturers) don't do double-digit increases because it would be hard to swallow for everyone down the line," said Mr Ler.
http://www.todayonline.com/hotnews/EDC100928-0000045/Tyre-prices-here-expected-to-inflate
Since January, manufacturers have rolled out at least two price increases of between 5 and 7 per cent, dealers say. This has translated to higher retail prices. For example, a mid-range 15-inch Yokohama tyre that cost $120 eight months ago will cost $130 when the latest increase kicks in next month.
Two weeks ago, Goodyear announced it would charge more for its tyres in the United States, while last month Bridgestone raised European prices for the second time this year.
Prices are expected to climb as China's growth and the recovery in Europe and the US drive the global surge in rubber demand, while a poor harvest this year has led to diminishing stockpiles.
Futures may climb as much as 14 per cent to US$4 ($5.30)a kilogramme by March on the Singapore Commodity Exchange, according to the median estimate of nine brokers and analysts surveyed by Bloomberg.
Mr Ler Hwee Tiong, who runs sales portal Tyrepac.com and has been in the business for 15 years, said retailers would "try to absorb" any price increases. "But this cannot be prolonged because of various factors such as cost of running a business. Usually, down the road, say, in one to two months, we will have to push the cost to consumers. It is inevitable," he told MediaCorp.
Currency movement may help to cushion any increases. For example, the weak US dollar has helped Stamford Tyres "compensate" for warehouse costs despite two rounds of price increases, said company president Wee Kok Wah. "As a result, based on the retail price in Singapore dollars, we have not done much in terms of price increase," he added.
The company, which implemented a 5-per-cent price increase in May, will assess the situation after January. But Mr Wee expects tyre prices for passenger cars, light trucks and sports utilities vehicles to be maintained. "I don't think there is a shortage of tyres but there is a shortage of rubber," he added.
With natural rubber making up half the cost of a tyre, industry players expect the quantum of price increases to be small, similar to those seen this year. "They (manufacturers) don't do double-digit increases because it would be hard to swallow for everyone down the line," said Mr Ler.
http://www.todayonline.com/hotnews/EDC100928-0000045/Tyre-prices-here-expected-to-inflate
Friday, September 17, 2010
China's spending on green tech exceedes 10b yuan
BEIJING - The Chinese government's investment in research and development of green technologies has exceeded 10 billion yuan ($1.47 billion) for the 2006-2010 period.
Zhang Laiwu, vice minister of science and technology, made the remark Thursday at a press conference in Beijing, also saying that China had developed key technologies that could cut greenhouse emissions.
China has applied energy-saving technologies to traditional industries including steel, power, building materials, chemicals and agriculture, which have enhanced their competitiveness, he said.
China has also issued supportive policies for new-energy industries. For instance, the pilot program of energy-saving and new-energy vehicles has been implemented in 25 cities, and the government has provided subsidies for the purchase of 5,000 vehicles, he said.
Also, more than 1.6 million LED lights were being used in 21 cities in a pilot program to promote the use of LED lights, which will save more than 164 million kWh of electricity annually, he said.
(Xinhua)
Zhang Laiwu, vice minister of science and technology, made the remark Thursday at a press conference in Beijing, also saying that China had developed key technologies that could cut greenhouse emissions.
China has applied energy-saving technologies to traditional industries including steel, power, building materials, chemicals and agriculture, which have enhanced their competitiveness, he said.
China has also issued supportive policies for new-energy industries. For instance, the pilot program of energy-saving and new-energy vehicles has been implemented in 25 cities, and the government has provided subsidies for the purchase of 5,000 vehicles, he said.
Also, more than 1.6 million LED lights were being used in 21 cities in a pilot program to promote the use of LED lights, which will save more than 164 million kWh of electricity annually, he said.
(Xinhua)
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