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Toyota rolls out first battery electric car in cautious debut as rivals go full-throttle

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(Last Updated On: May 12, 2022)

Toyota Motor Corp (7203.T) rolls out its first mass-produced battery electric car in Japan on Thursday for lease only, a strategy the automaker says will help ease driver concerns about battery life and resale value but has raised analysts’ eyebrows.

Gasoline-electric hybrid models remain far more popular in Toyota’s home market than electric vehicles (EVs), which accounted for just 1% of the passenger cars sold in Japan last year, according to industry data. Still, the market is growing fast and foreign automakers including Tesla Inc (TSLA.O) are making visible inroads on the streets of cities such as Tokyo.

Bundling insurance, repair costs and a battery warranty into the deal, Toyota will lease the bZ4X sport utility vehicles (SUV) at the equivalent of $39,000 for the first four years. Cancelling in the first 48 months will mean an additional fee.

While EV acceptance has been slow in Japan, that will change, and Toyota could risk losing market share by focusing on a model of leasing rather than purchasing, said CLSA analyst Christopher Richter.

“Anything you are doing that’s making it harder to buy is maybe not a good thing,” he said.

“It’s a strategy I am not that fond of. It does signal that Toyota is taking the home market a little bit for granted.”

Toyota said in December it would commit 8 trillion yen ($62 billion) to electrify its cars by 2030.

Toyota aims to lease 5,000 of the SUVs in the current financial year – around the same amount of EVs that analysts estimate Tesla sold in Japan last year.

The automaker plans to start selling the bZ4X in other markets later this year, and pre-orders have already started in some European countries.

Toyota has not decided when it will start selling the cars in Japan, a spokesperson said.

‘DISPEL ANXIETY’

EVs became popular in Europe through lease programmes offered by employers and Toyota may be trying a similar tack to popularise electric cars, said Seiji Sugiura, a senior analyst at Tokai Tokyo Research Institute.

First-time customers are concerned about battery life and the potential fall in the trade-in value over time, said Shinya Kotera, president of KINTO, the Toyota unit offering the leases.

“It’s our role to dispel anxiety” toward EVs, he said.

Imports of battery EVs jumped almost three times to a record 8,610 vehicles in 2021, according to industry data. Analysts estimate roughly 60% of those were Teslas.

Still, Japanese automakers remain cautious about switching into the all-electric lane.

Toyota pioneered the hybrid more than two decades ago and retains big ambitions for both hybrids and hydrogen-powered vehicles, even as it is investing more to boost its battery EV line-up.

Rival Nissan Motor Co (7201.T) pioneered mass-market EVs with the Leaf in 2010 but will launch only its second battery EV model, the Ariya SUV, also on Thursday. The Ariya will be sold for the equivalent of $41,500, not including a government subsidy.

Honda Motor Co (7267.T) in April laid out a target to roll out 30 electric vehicle models globally by 2030.

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UN adopts first global artificial intelligence resolution

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(Last Updated On: March 22, 2024)

The United Nations General Assembly on Thursday unanimously adopted the first global resolution on artificial intelligence that encourages countries to safeguard human rights, protect personal data, and monitor AI for risks, Reuters reported.

The nonbinding resolution, proposed by the United States and co-sponsored by China and over 120 other nations, also advocates the strengthening of privacy policies.

“Today, all 193 members of the United Nations General Assembly have spoken in one voice, and together, chosen to govern artificial intelligence rather than let it govern us,” U.S. Ambassador to the United Nations Linda Thomas-Greenfield said.

The resolution is the latest in a series of initiatives – few of which carry teeth – by governments around the world to shape AI’s development, amid fears it could be used to disrupt democratic processes, turbocharge fraud or lead to dramatic job losses, among other harms.

“The improper or malicious design, development, deployment and use of artificial intelligence systems … pose risks that could … undercut the protection, promotion and enjoyment of human rights and fundamental freedoms,” the measure says. In November, the U.S., Britain and more than a dozen other countries unveiled the first detailed international agreement on how to keep artificial intelligence safe from rogue actors, pushing for companies to create AI systems that are “secure by design.”

Europe is ahead of the United States, with EU lawmakers adopting a provisional agreement this month to oversee the technology. The Biden administration has been pressing lawmakers for AI regulation, but a polarized U.S. Congress has made little headway, read the report.

In the meantime, the White House sought to reduce AI risks to consumers, workers, and minorities while bolstering national security with a new executive order in October.

U.S. National Security Advisor Jake Sullivan said it took nearly four months to negotiate the resolution, but that it gave the world “a baseline set of principles to guide next steps in AI’s development and use.”

Asked on Wednesday whether negotiators faced resistance from Russia or China, senior administration officials said there were “lots of heated conversations,” but the administration actively engaged with countries with which it has different views.

Like governments around the world, Chinese and Russian officials are eagerly exploring the use of AI tools for a variety of purposes. Last month, Microsoft said it had caught hackers from both countries using Microsoft-backed OpenAI software to hone their espionage skills.

In response to the Microsoft report, China has said it opposes what it called groundless accusations while Russia did not respond to a request for comment, Reuters reported.

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Turkey moves against Meta over Threads-Instagram data sharing

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(Last Updated On: March 18, 2024)

Turkey’s competition authority on Monday imposed an interim measure on Meta Platforms Inc meant to hinder data sharing between the Instagram and Threads platforms as it investigates possible abuse of the company’s dominant market position.

In December the authority launched an investigation into Facebook parent Meta (META.O), opens new tab over a possible violation of competition law by linking its social media platforms Instagram and the newer Threads.

The authority said the interim measure would remain in place until a final decision is made, since the data obtained and merged through these two apps could “violate competition law and cause irreparable damage” in the market.

Separately, the Turkish authority fined Meta 4.8 million lira ($148,000) daily as part of a separate investigation over a notification message that the company sends users about the sharing of data.

The notification about data sharing between the company’s Facebook, Instagram and WhatsApp services did not provide sufficient information and was not sufficiently transparent, it said.

The notification was also designed to guide users to approve data sharing, which was not deemed sufficient to address anti-competition concerns, it added.

A Meta spokesperson said that the company is considering the decision and will have more to say in due course. – Reuters

 

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Musk’s SpaceX building spy satellite network for US intelligence agency

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(Last Updated On: March 17, 2024)

SpaceX is building a network of hundreds of spy satellites under a classified contract with a U.S. intelligence agency, five sources familiar with the program said, demonstrating deepening ties between billionaire entrepreneur Elon Musk’s space company and national security agencies.

The network is being built by SpaceX’s Starshield business unit under a $1.8 billion contract signed in 2021 with the National Reconnaissance Office (NRO), an intelligence agency that manages spy satellites, sources told Reuters.

The plans show the extent of SpaceX’s involvement in U.S. intelligence and military projects and illustrate a deeper Pentagon investment into vast, low-Earth orbiting satellite systems aimed at supporting ground forces.

If successful, the sources said the program would significantly advance the ability of the U.S. government and military to quickly spot potential targets almost anywhere on the globe.

The contract signals growing trust by the intelligence establishment of a company whose owner has clashed with the Biden administration and sparked controversy.

The satellites can track targets on the ground and share that data with U.S. intelligence and military officials, the sources said.

In principle, that would enable the U.S. government to quickly capture continuous imagery of activities on the ground nearly anywhere on the globe, aiding intelligence and military operations, they added.

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