|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||9.86 - 10.03|
|52 Week Range||8.95 - 11.08|
|Beta (5Y Monthly)||0.91|
|PE Ratio (TTM)||22.01|
|Forward Dividend & Yield||0.26 (2.65%)|
|Ex-Dividend Date||Sep 28, 2020|
|1y Target Est||10.76|
Chinese companies have a head start using a cellular standard that the U.S. only recently adopted.
(Bloomberg) -- Speculation that Apple Inc. is seeking a partner to develop its own electric vehicle swept through South Korea and Japan, where shares of major car companies climbed on reports of discussions with the maker of the iPhone.Kia Motors Corp. is talking to potential partners about a plan to assemble an Apple-designed car, the Wall Street Journal reported Friday. Separately, the Nikkei newspaper said Apple was in discussions with at least six automakers. Conjecture around Apple’s secretive project to design and sell its own car re-emerged in December after a hiatus of several years, with Kia’s part-owner Hyundai Motor Co. mentioned as a potential partner.The key question is how serious Apple is about taking on Tesla Inc. and other electric-vehicle makers, and whether it has determined it will need a established manufacturer to be able to roll out its own product. The Cupertino, California-based company is said to have a small team of engineers developing drive systems, as well as designers, but with development work at an early stage, any roll out probably won’t happen for another five years.Read more: Apple Self-Driving Electric Car Is at Least Half a Decade AwayTatsuo Yoshida, a senior analyst at Bloomberg Intelligence, said that Japanese automakers are usually too busy with their own development, manufacturing, sales and customer service to take on a task like working with Apple. However, Nissan Motor Co. or Mitsubishi Motors Corp. “don’t have much work, and are somewhat idle, so they might sign up,” he said.When asked if they were approached, Honda Motor Co. and Mazda Motor Corp. said they couldn’t comment, the Nikkei said. Mitsubishi Motors said it was not contacted and Nissan declined to comment, according to the report. Subaru Corp.’s chief financial officer said on an earnings call that he hadn’t heard anything about an Apple car.Kia shares rose 1.5% in Seoul, adding to gains from earlier this week on a local media report that Apple would invest 4 trillion won ($3.6 billion) as part of a collaboration with the automaker on making EVs. In December, Hyundai backed away from a statement that said it was in talks with Apple.Read more: How Apple Can Tackle $230 Billion Luxury Car Market: Alex WebbThe Journal reported a deal between Apple and Kia will involve a multibillion-dollar investment, with assembly to take place in the state of Georgia. This week, CNBC reported that Apple is close to finalizing a deal with Hyundai-Kia to build an autonomous EV at Kia’s U.S. plant. No agreement has been reached, but they are tentatively scheduled to go into production in 2024, the news channel said.A representative for Kia declined to comment.Hyundai has developed a new EV-dedicated platform, and plans to build 23 EVs, beginning with the Ioniq 5 in March in Europe, followed by a Kia model later this year. EVs made on the platform will be able to charge up to 80% capacity in 18 minutes and add as much as 100 kilometers (62 miles) of driving range in just five. They’ll have a top range of 500 kilometers on a single charge. Hyundai is aiming to sell 1 million cars by 2025.Read more: Why Building an Electric Car Is So Expensive, For Now: QuickTakeIn Japan, the report fueled gains among automakers, which in turn boosted the benchmark Topix, with Toyota Motor Corp., Mitsubishi Motors, and Nissan rising. Mazda shares also jumped 19%, the most in 12 years, after the company boosted its operating income forecast for the full year.Among Japan’s carmakers, Nissan probably has the right solution for a non-automaker seeking to enter the EV market. The Japanese automaker has developed with French partner Renault SA a common EV platform that can be used by to develop distinct, branded products for their global automaking alliance, which also includes Mitsubishi Motors.Nidec Corp., a major Japanese supplier of electric motors, is also seeking to offer nearly complete EV platforms. Jun Seki, the company’s chief operating officer, said in a recent interview that new entrants in the sector would prefer to focus on a vehicle’s interior and styling.Read more: The World’s Top Maker of Mini Motors Bets It Can Win Over Tesla“Any new company entering into the realm of electric vehicles is a chance for us,” Seki said. “Our expectations of Apple are quite high. Apple is our important customer in other fields as well.”(Updates shares throughout.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Automakers in Japan, where almost 30% of the population is 65 or older, are taking the lead on adapting cars so the nation’s legions of elderly drivers can feel more confident -- and be safer -- behind the wheel.A run of accidents involving older people behind the wheel has upped the pressure from regulators to standardize advanced features. Automatic brakes will be required for all new vehicles sold domestically from this year, for example, and companies from Toyota Motor Corp. to Nissan Motor Co. are employing smart technology to make cars more user friendly for older people.It’s also becoming more of a priority as public railways in rural areas disappear, worsening an isolation crisis made only more stark by the coronavirus pandemic. Without any means of getting around, elderly people in Japan are increasingly confined to their homes, their lives shrinking as transport options evaporate.A recent high-profile fatal accident spotlighted the issue. In February last year, Japanese prosecutors indicted 89-year-old Kozo Iizuka on a charge of negligence resulting in death and injury after a crash in Tokyo’s Ikebukuro district. The former senior bureaucrat was on his way to a French restaurant with his wife in April 2019 when his Toyota Prius plowed through a crossing, killing a toddler and her mother and harming several others.The accident made headlines, not least because of Iizuka’s high-ranking government position. Public sentiment swiftly turned against Iizuka, who is back in court this week after pleading not guilty in October. The incident also sparked a national debate about the swelling ranks of elderly drivers on Japan’s roads. After the event, the number of old people opting to park their wheels for good soared. According to the National Police Agency, 350,428 people 75 or over returned their driver’s licenses in 2019, the highest on record.“Young people tell us seniors to return our driver’s licenses, but they aren’t around,” says Hideaki Fukushima, 90, whose wife returned her own license around the time of the accident. The couple’s children live in Nagoya, a two-hour drive away. In Takamori where they live, a small town in Japan’s central mountainous area, trains operated by Central Japan Railway Co. only come about once an hour. “There’s nothing you can do without a car,” Fukushima says.Last year, Toyota upgraded its Safety Sense offering. The technology is designed to prevent or mitigate frontal collisions as well as keep drivers within their lane. By using high-resolution cameras on the windscreen and bumper-mounted radars, it can detect oncoming cars or pedestrians — or even bicycles in daylight hours — and give audible and visual alerts. If drivers fail to respond, automatic braking may be deployed. The new software also has intersection functionality to help detect oncoming obstacles if a car is making a turn from a stationary position.Other Toyota Safety Sense features include the correction of unintentional lane departures, automatic toggling between high and low-beam at night depending on surrounding traffic, and the detection of slower-moving cars ahead on a highway and automatic maintenance of a pre-set distance. Road-sign assistance technology detects stop and speed signs as they’re passed and displays a dashboard alert in case drivers have missed them themselves.“A society in which the elderly can drive safely is crucial for their active social participation and healthier, fuller lives,” Toyota said. “Our ultimate goal is, of course, to have zero casualties from traffic accidents.”Subaru Corp.’s aspirations are similar; it wants to eliminate all fatal accidents by 2030. Like several other automakers, it’s using stereo cameras, which have two or more lenses with a separate image sensor for each, providing the ability to capture three-dimensional images. Dubbed EyeSight, the technology looks ahead and alerts drivers to any danger. Subaru says Eyesight-equipped vehicles are involved in 61% fewer accidents and 85% fewer rear-end crashes. Pedestrian-related injuries are lowered by 35%.“It would be impossible to eradicate all fatal accidents without utilizing artificial intelligence,” says Subaru’s Eiji Shibata, who oversees the development of EyeSight. To reach its ambitious target, Subaru plans to combine its stereo cameras with AI, assigning meaning to each object and trying to accurately infer risk.That’s not without its challenges, according to Shibata. “It’s a technologically tough area,” he says. Stereo cameras are harder to install in mass produced cars, partly because they convey more information than other sensors and require more complicated back-end support. “Equipping the technology in cars that people ordinarily use is a huge task.”An upgraded EyeSight X that uses autonomous technology debuted in August in the second generation of the Subaru Levorg. The model, which went on sale in Japan in November, has 360-degree sensing and like Toyota’s upgraded tech, has an intersection assist function that can autonomously steer cars away from an impending collision. Using EyeSight X, vehicles can even change lanes on their own and slow down for toll booths.Nissan has a similar offering called ProPilot that it expects to have in at least 20 models in 20 markets globally by the end of 2023.Takuya Matsunaga, who lost his wife and child in the 2019 accident, admits it’s a good start but adds that dealers, when selling cars, should stress these technologies aren’t failsafe. “Anyone can cause an accident,” he says.Matsunaga has become a member of Aino Kai, a support group for bereaved families from traffic collisions. Aino Kai also plays a lobbying role, urging government officials to expand public transport networks in regional centers.“I don’t want to see divisions like the young and the elderly hating each other,” Matsunaga says. “We need to think about the people who are suffering: the elderly in rural areas.”(Updates with fresh headline.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.