Strategic reductions by many companies are a sign of pragmatism and an acknowledgement that the world’s largest car market isn’t necessarily a profitable one. Pricing power, government subsidies, and the speedy adoption of new-energy vehicles like battery and hybrid-powered models by Chinese automakers made foreign brands increasingly redundant
Nidec Corporation today announced its consolidated financial results under the International Financial Reporting Standards for the period of April 1, 2023 through December 31, 2023.
The.
Nidec Slashes Outlook on Competition in Chinese EV Market bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Nidec slashes operating forecast - report just-auto.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from just-auto.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Tesla Inc. supplier and motors maker Nidec Corp. slashed its full-year operating income guidance by almost 20% on what its chairman said was “an ocean of red” in China’s electric-vehicle market. Most Read from BloombergApple Dials Back Car’s Self-Driving Features and Delays Launch to 2028China Weighs Stock Market Rescue Package Backed by $278 BillionRussia Says Military Plane With 65 Ukrainian POWs CrashedAckman Boosts Israel Support With 5% Stake in Tel Aviv BoursePrices are plun