Automotive

Automotive
Calsonic lines up key public-private funding for $7bn Magneti deal
Mizuho Bank and the Development Bank of Japan each will purchase about 35 billion yen ($314 million) of preferred stock in the parent of Japanese auto parts maker Calsonic Kansei, Nikkei has learned, facilitating additional financing for the company's acquisition of an Italian supplier.
Tokyo requires electric vehicles to further trim footprint
Japan will require automakers to improve fleetwide fuel economy, including electric vehicles, by roughly 30% from the fiscal 2020 target by fiscal 2030, as it seeks to account for the environmental impact of Earth-friendly autos while still promoting their use.