BEIJING (Reuters) -Japan's Toyota Motor will pair up with China's Tencent while Nissan will team up with Baidu, the companies said on Thursday, cross-border partnerships that highlight the importance of artificial intelligence for carmakers. The separate announcements from two of Japan's biggest automakers at the Beijing auto show also underscored the attempt by Japanese manufacturers to come to grips with the massive technological shifts that have disrupted their once enviable positions in the Chinese market.
Chinese EV: Chinese car makers, led by Geely s Zeekr and Xpeng Motors, will pose a challenge for Japanese giants at the Bangkok International Motor Show. They aim to expand in Southeast Asia, targeting Thailand s premium EV market, intensifying competition in the region.
TOKYO (Reuters) -Business confidence at big Japanese manufacturers hit a near two-year high in the three months to December, a closely watched central bank survey showed, suggesting the economic conditions needed to unwind massive stimulus were falling into place. Big non-manufacturers' sentiment also improved to levels not seen since 1991, the quarterly "tankan" survey showed on Wednesday, dispelling analysts' concerns that weak consumption could weigh on the fragile economic recovery. "The Tankan presents a strong case for the Bank of Japan to withdraw ultra-loose monetary policy," said Marcel Thieliant, head of Asia-Pacific at Capital Economics, pointing to signs of tightening labour market conditions.
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Although Japanese manufacturers may be planning to cut production abroad over the next few years, some groups are being encouraged to increase focus on the Global South to increase security and take advantage of new business environments.