FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Nabtesco to Mass-Produce Fully Electric Power Steering for Large EVs in 2027, Starting with China

By

Japanese machinery manufacturer Nabtesco (TYO:6268) plans to begin mass production of fully electric power steering systems for large commercial vehicles in 2027, Nikkei reported on Wednesday.

This will mark the world's first mass production of such a system for large trucks and buses, with expected uptake in China, the largest EV market, likely to drive broader global adoption, the news agency said.

Nabtesco recently supplied a newly developed fully electric power steering unit to China's state-owned CRRC, a global leader in rolling stock manufacturing, the publication said.

CRRC intends to integrate the component into its next-generation bus system featuring four connected carriages, which is currently undergoing prototype vehicle trials, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Asia

Market Chatter: Japan to Launch Trade Talks with Mercosur as It Seeks New Energy Sources and Auto Export Markets

Japan plans to start trade talks with South American bloc Mercosur, aiming to secure alternative oil and mineral supplies while reducing auto tariffs in a growing market, Nikkei Asia reported Wednesday.Japanese Prime Minister Sanae Takaichi is expected to meet Brazilian President Luiz Inácio Lula da Silva on the sidelines of the mid-June G7 summit, with plans to also engage other Mercosur members, the publication said.The bloc - comprising Brazil, Argentina, Uruguay, Paraguay, and Bolivia - has nearly 300 million people and a GDP exceeding $3 trillion, roughly 75% of ASEAN's, the news daily said.Japan has free trade deals with ASEAN, Australia, and the EU, but not with Mercosur, leaving ample room for growth, as fiscal 2025 exports to the bloc were only 0.8% of Japan's global total and imports 1.3%, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$^N225
Asia

Market Chatter: Japan Allocates 513.5 Billion Yen in Reserve Funds to Resume Summer Energy Bill Subsidies

The Japanese government decided to release 513.5 billion yen from this fiscal year's reserve funds to restart subsidies for energy bills over the summer, aiming to cushion the economic blow from the Middle East conflict, the Mainichi reported on Tuesday, citing Minister Ryosei Akazawa.The subsidies will apply to electricity and gas bills from July to September, when air conditioning demand rises, cutting costs for an average household by roughly 5,000 yen, with officials pledging to keep bills lower than last summer's levels, the news daily said.Akazawa, Japan's economy, trade and industry minister, said the focus was on easing the burden in August, the peak month for electricity use, while also promoting energy-saving tips for home appliances and cars, the publication said.The plan provides 3.5 yen per kilowatt-hour for electricity in July and September and 4.5 yen in August, and for gas, 14 yen per cubic meter in July and September and 18 yen in August, drawing from the 1 trillion yen reserve fund in the initial fiscal 2026 budget, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$^N225
Asia

Webjet Posts Higher Fiscal 2026 Underlying Earnings, Higher Revenue

Webjet (ASX:WEB) reported Wednesday fiscal 2026 underlying earnings of AU$0.238 per share, up from AU$0.205 a year earlier.Analysts polled by FactSet expected earnings of AU$0.22.Revenue for the 12 months ended March 31 was AU$394.1 million, compared with AU$328.4 million a year earlier. Analysts surveyed by FactSet expected AU$380.5 million.The board did not declare a dividend for this period.

$ASX:WEB