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Industry in Eastern Asia

  • Hyundai reveals next generation green vehicle

    SOUTH KOREA, 2017/10/15 Hyundai Motor Group unveiled its next generation fuel cell electric vehicle (FCEV) on Aug. 17 at a clean energy concept home built on the banks of Seoul's Hangang River. This new electric vehicle technology uses compressed hydrogen and a fuel cell to produce electricity that powers an onboard motor. Most of these vehicles are classified as zero emission cars that only emit water and heat. As such, they are seen as the next generation of environmentally friendly vehicles.
  • Analysts Say China-Backed Aluminium Recovery May Soon Slow

    CHINA, 2017/09/29 A study released this week by a China-based private analyst predicts that the recovery in the aluminium market fostered by Beijing’s attempts at supply-side reform may any minute at this time wane. The China Beige Book, which is a quarterly survey of over three thousand Chinese businesses and 160 banks in almost three dozen different industries, reports that commodities firms in the Middle Kingdom are greeting the Chinese government’s campaign to clamp down on rampant overcapacity with a healthy dose of skepticism. The study notes that, despite numbers released by Beijing, in general capacity in the aluminium market has experienced a net rise for the last six consecutive quarters.
  • China embraces smart factory technology in manufacturing arms race with Germany, Japan

    CHINA, 2017/09/23 Faced with rising labour costs owing to its shrinking labour force, China has by presently overtaken Japan as the world’s major industrial robot market. Industrial robot sales in China this year are estimated to reach US$4.2 billion, according to the Chinese Institute of Electronics. But a lack of core technology means the country has been highly dependent on foreign supply. Imports from well established overseas major producers such as Swedish-Swiss firm ABB, Germany’s Kuka, and Japan’s Fanuc and Yaskawa Electric account for additional than 60 % of all robots bought by Chinese manufacturers.
  • Carmakers face billions in European CO2 fines from 2021

    JAPAN, 2017/09/23 Large-name carmakers inclunding Volkswagen and Fiat Chrysler face fines running into the billions for failure to meet tough new European carbon dioxide emissions limits slated for 2021, a study has found. "Only four out of 11 carmakers are estimate to meet the EU 2021 CO2 emission target, with the rest facing significant fines," researchers from British firm PA Consulting said in a statement Friday. European Union nations agreed in 2014 that carmakers should limit CO2 emissions to 95 grammes per kilometre across their entire model range within seven years.
  • Zhongwang Acquires German Alumnium Extrusion Firm ALUnna

    CHINA, 2017/09/16 The world’s second major aluminium extrusion firm China Zhongwang Holdings Ltd announced yesterday that it presently holds a controlling interest in German aluminium extrusion firm Aluminiumwerk Unna AG (ALUnna). Although no price for the purchase was given, the transaction gives all owned German subsidiary Zhongwang Aluminium Deutschland GmbH a 99.72-% equity interest in ALUnna. According to experts, the purchase enhances Zhongwang’s position in the world aviation market inclunding giving the firm a stronger foothold on the European continent.
  • Damac awards $953m worth of contracts so far in 2017

    CHINA, 2017/09/08 Luxury real estate developer Damac Properties has revealed it awarded over 370 contracts worth $953 million (AED3.5b) since January 2017 for construction, supplier and consultancy services across 20 of its projects. Additional than 50 % of contracts awarded, $490m, has gone towards the firm’s major master golf community, Akoya Oxygen, with major construction ongoing across the 55-million square foot development.
  • China e-car venture Future Mobility names brand Byton, eyes U.S., Europe

    CHINA, 2017/09/08 Chinese electric-car venture Next Mobility Corp, co-founded by former BMW and Nissan Motor executives, has named its brand “Byton” that it plans to launch in the United States and Europe any minute at this time next starting sales at home in 2019. Next Mobility, which recently raised $200 million from investors inclunding China’s Suning and Fullshare Holdings, is looking to launch three cars by 2022. It by presently has a premium midsize crossover sport utility vehicle ready to go into the next “critical” phase of development. The company has said the SUV will hit China during the fourth quarter of 2019.
  • Why Japanese workers aren’t as concerned about robots stealing their jobs

    JAPAN, 2017/08/21 A culture that celebrates robots and a tradition of "lifetime employment" — retaining and retraining workers — created a muted debate. Thousands upon thousands of cans are filled with beer, capped and washed, wrapped into six-packs and boxed at dizzying speeds — 1,500 a minute, to be exact — on humming conveyor belts that zip and wind in a sprawling factory near Tokyo. Nary a soul is in sight in this picture-perfect image of Japanese automation.
  • China's top train maker receives order from India

    CHINA, 2017/04/07 An affiliated company under China's top train maker CRRC Corporation has acquired a subway train order from Nagpur, India, the company said Sunday. A total of 69 train coaches will be produced by CRRC Dalian for subway operations in Nagpur, the major city in central India, according to an agreement signed by the company and a local subway company. The trains are for two urban rails in the city with a total length of 38 km.
  • Sumitomo Metal Mining president says company seeking to raise stakes in gold mines

    JAPAN, 2016/11/17 Japan's Sumitomo Metal Mining Co Ltd is seeking an opportunity to boost its holdings in gold mines, with options inclunding taking a stake in projects or the development of mines on its own or through a joint venture, its president said. "We are aggressively seeking stakes in gold mines," President Yoshiaki Nakazato told an analyst conference on Thursday.