Wake up Proton! Even Japanese car manufacturers are forming JVs to fight the global EV market

Tomohiro Ohsumi | Getty Images
Toyota President Akio Toyoda nd Mazda President and CEO Masamichi Kogai at a joint press conference on August 4, 2017 in Tokyo, Japan. – Reuters/CNBC
Toyota, Mazda and parts maker Denso are planning to set up a joint venture to develop electric vehicles, sources familiar with matter said. Toyota, Japan's biggest automaker, agreed to take a 5 percent stake in smaller rival Mazda in August and the two have flagged plans to jointly develop electric vehicle technologies. – Reuters/CNBC
 Wake up Proton! Even Japanese car manufacturers are forming JVs to fight the global EV market

The Star Online news headline reads: “Toyota, Mazda, Denso to form electric vehicle venture”.

“That captured my immediate attention and worry for Proton, now in a joint-venture (JV) with China’s Geely,” Gerakan Deputy Speaker Syed Abdul Razak Alsagoff said.

He said: “It is crystal clear that the global electric vehicle (EV) technology is advancing and evolving in a furious pace that no one motor vehicle manufacturer can really ‘survive’ on its own.

“The Japanese motor giants are facing reality and to remain relevant, competent and competitive in the global market, they have to cooperate to ensure their future is positive.

“And their market rivals are China, Europe and the US. No doubt that China is today a world leader in battery and EV manufacturing, there is no guarantee that this will not change, given the speedy pace of car technology and its Artificial Intelligence (AI) accessories technology.”


Syed Razak, who is Gerakan’s nominee to contest N.37 Bukit Lanjan in the coming 14th General Election (GE14), said “surely the Proton-Geely JV could ill-afford to take the global EV industry developments for granted”.

He said Proton-Geely had thus far not even revealed whether it was preparing to also compete in the EV market.

“Please don’t remain mum. Malaysians need an assurance from Proton-Geely that it is responsive to the global EV competition and are at least prepared.

“Assure us that you are competent and have technology, business and marketing plans,” he said, adding that another round of bailout would be extremely unacceptable.

This is the Reuters report posted by The Star Online:

"Toyota, Mazda, Denso to form electric vehicle venture

TECH NEWS
Thursday, 28 Sep 2017
11:24 AM MYT


Toyota, Japan's biggest automaker, agreed to take a 5% stake in smaller rival Mazda in August and the two have flagged plans to jointly develop electric vehicle technologies. — Reuters 

TOKYO: Toyota Motor Corp, Mazda Motor Corp and parts maker Denso Corp are planning to set up a joint venture to develop electric vehicles, sources familiar with matter said. 

Toyota, Japan's biggest automaker, agreed to take a 5% stake in smaller rival Mazda in August and the two have flagged plans to jointly develop electric vehicle technologies.

A formal announcement on the joint venture will be made later in the day, the sources said, declining to be identified as they were not authorised to discuss the matter publicly.

Global automakers are accelerating their efforts to develop electric vehicles as policymakers in key markets like China demand they shift their product lines to these cars over the next two to three decades.

Toyota said it has been conducting various studies with Mazda to boost their alliance. A Denso spokesman declined to comment. Mazda said nothing had been decided yet. — Reuters"

N.37 LET BUKIT LANJAN SOAR WITH SYED ABDUL RAZAK ALSAGOFF

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