Auto Industry News

Taiwan Semiconductor Manufacturing Co (TSMC) said on Tuesday it will set up a new chip factory in the island's southern city of Kaohsiung as the world's largest contract chip maker bids to boost production amid a global chip shortage.

With India commemorating Swarnim Vijay Varsh in 2021, twenty iconic cars will be auctioned on the occasion.

Tesla Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday, just days after he polled Twitter users about selling 10% of his stake.

Japan's Subaru Corp on Thursday unveiled it first all-electric vehicle (EV), the Solterra, the result of a two-year joint development project with its biggest shareholder Toyota Motor Corp.

Speaking during the launch of the new-gen Celerio, Kenichi Ayukawa, MD, and CEO, Maruti Suzuki said that while there may be some supply side constraints in the short term, owing to shortage of electronic components, the medium and long term India story continues to look promising.

The Rage+ Rapid has a claimed charging time of just 35 minutes, and comes with a vehicle warranty of 5 years, and battery warranty of 6 years.

Nissan tripled its full-year net profit forecast on Tuesday as it rebounded from the impact of the pandemic with a strong quarterly performance, saying it expected to withstand challenges including the global chip crunch and rising raw material prices.

Sony Group said on Tuesday it would invest about $500 million in a joint venture with Taiwan Semiconductor Manufacturing Co (TSMC) that will build a $7 billion chip plant in Japan. Construction of the factory, which local media said last month would supply semiconductors to Sony's image sensor business, will begin in 2022, with production slated to begin at the end of 2024, the companies said in a press release.