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MG plans to build plant, R&D center in Mexico

China's MG Motor plans to build a manufacturing plant and a research and development center in Mexico, the carmaker said on Wednesday. The move will allow MG, the former British brand now owned by China's SAIC Motor Corp, to "not only produce vehicles, but to also produce market intelligence specifically designed for and by Latin America", said the carmaker in a statement. The company did not say how much it plans to invest or provide a construction timeline, however. MG Motor said its plant would aim to "make Mexico a pole for growth and expansion for SAIC Group and MG Motor in Latin America and the Caribbean".

Honda's first-quarter profits boosted

Japan's Honda Motor reported a 23 percent increase in first-quarter profit on Wednesday as the automaker benefited from a weaker yen, higher pricing and growing hybrid vehicle sales in the United States and its home market. Japan's second-biggest carmaker said quarterly operating profit totaled 484.7 billion yen ($3.3 billion) in the April-June period. Honda said its global vehicle sales grew 2 percent to 1.9 million over the first six months of the year, largely due to a 9 percent rise in sales in the US, its top market. In contrast, it faced heavy headwinds in China where it saw sales slump 23 percent to 416,000 vehicles.

Muted forecast on Rivian production

Rivian on Tuesday stuck to its forecast that production would not rise this year and said deliveries in the third quarter would be slightly lower, as the EV maker races to rebuild inventory after a factory shutdown in April designed to cut costs. Rivian, which makes the R1S SUV and R1T pickups, is seen as one of the few electric vehicle makers with potential to navigate a sharp slowdown in EV demand. With the three-week factory retooling, Rivian introduced a new generation of its R1 vehicles with advanced features and a simpler manufacturing process, and introduced offers on leases to boost sales of older-generation vehicles.

Fresh inquiry into US Nissan models

The US auto safety regulator has opened a preliminary evaluation into 77,131 Nissan vehicles over reports of an issue with the steering tie rod, it said on Wednesday. The National Highway Traffic Safety Administration said the probe would involve Nissan's 2021 Rogue crossover models, adding that it launched the investigation after reports of inner tie rod failures resulting in a loss of steering control. The evaluation will assess safety-related consequences and the scope, frequency and root cause of the alleged defect, the regulator said. In June, the regulator opened a separate investigation into around 75,000 Nissan 2015 Rogue Selects in response to some reports of unintended deployments of side air bags.

Hyundai to set up EV factory in Thailand

South Korean automaker Hyundai Motor Company will invest 1 billion baht ($28 million) to set up a facility to assemble electric vehicles and batteries in Thailand, the country's Board of Investment said on Wednesday. Thailand's booming EV sector is currently dominated by Chinese carmakers, including BYD and Great Wall Motor, which are using the country as a manufacturing base for exporting vehicles across Southeast Asia. The Hyundai factory, to be located just southeast of the capital, Bangkok, will start production in 2026, according to a BoI statement. Thailand, the region's biggest auto manufacturing hub, accounted for 55 percent of all Southeast Asia's EV sales in the first quarter, according to Counterpoint Research.

Agencies - Motoring