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Japan may aid carmakers facing U.S. tariff threat

TOKYO — Japan is considering giving carmakers fiscal support including tax breaks to offset the impact from trade frictions with the United States and a sales-tax hike planned for next year, government sources told Reuters on Wednesday. Going into a second round of trade talks with the United States on Sept. 21, Japan is hoping to avert steep tariffs on its car exports and fend off U.S. demands for a bilateral free trade agreement that could put it under pressure to open politically sensitive markets, like agriculture. "If the trade talks pile pressure on Japan's car exports, we would need to consider measures to support the auto industry," a ruling party official said on condition of anonymity because of sensitivity of the matter. The auto industry accounts for about 20 percent of Japan's overall output and around 60-70 percent of the country's trade surplus with the United States, making it vulnerable to U.S. action against Japanese exports. Japan's biggest automakers and components suppliers fear they could take a significant hit if Washington follows through on proposals to hike tariffs on autos and auto parts to 25 percent. Policymakers also worry that an increase in the sales tax from 8 percent to 10 percent planned for October 2019, could cause a slump in sales of big-ticket items such as cars and home. Prime Minister Shinzo Abe has twice postponed the tax hike after the last increase from 5 percent in 2014 dealt a blow to private consumption, which accounts for about 60 percent of the economy. To prevent a pullback in demand after the tax hike, the government may consider large fiscal spending later when it draws up its budget for next year, government sources said. "One option may be to greatly reduce or abolish the automobile purchase tax," one of the government sources said. The government is also considering cuts in the automobile tax and automobile weight tax to help car buyers, the source added. Reporting by Izumi Nakagawa and Tetsushi KajimotoRelated Video: Image Credit: Getty Government/Legal Isuzu Mazda Mitsubishi Nissan Subaru Suzuki Toyota Trump Trump tariffs trade

HyFive hydrogen infrastructure gets $51M boost across Europe

"High five!" was one of the catch-phrases of Sacha Baron Cohen's Kazakh comedic alter ego Borat. A real-world HyFive is being announced by a power broker named Boris. And this is serious business. London Mayor Boris Johnson has announced a program called HyFive, which will see automakers and other entities invest 31 million British pounds ($51 million US) in a demonstration project for hydrogen fuel-cell vehicles. By next year, London will have three hydrogen refueling stations, while there will be one each in the Danish cities of Aarhus and Odense and one in Innsbruck, Austria. Leaders of the program are planning for other stations in Sweden, Germany and Italy. The five participating automakers are BMW, Mercedes-Benz parent Daimler, Honda, Hyundai and Toyota, while other companies involved include Copenhagen Hydrogen Network, ITM Power and Linde. Those OEMs will make 110 fuel-cell vehicles available for deployment in Bolzano, Copenhagen, Innsbruck, London, Munich and Stuttgart. The program represents an effort to address the "chicken or egg?" challenge inherent to establishing a hydrogen fuel cell vehicle market. While the powertrain technology provides benefits by combining fossil-fuel-like refueling times with long driving ranges and zero emissions, establishing a refueling network and building fuel-cell vehicles is prohibitively expensive, especially in low volumes. The London mayor is no stranger to green transportation technology. Late last year, Johnson made himself available for a photo opportunity with Ecotive and Frazer-Nash, which had developed a six-passenger extended-range plug-in taxicab. The mayor got a test drive in the cabs this week. You can check out the HyFive press release below. Global leaders sign up to GBP31m plan to demonstrate viability of hydrogen vehicles International project HyFive pioneers hydrogen fuel cell technology A pioneering GBP31 million deal will be struck today (3 April) to make hydrogen vehicles a viable and environmentally friendly choice for motorists across Europe. Leading motor manufacturers, hydrogen fuel suppliers, the Mayor of London's Office and energy consultancies from around the globe are signing up to the HyFive project, the largest of its kind in Europe, at City Hall in London today.

Toyota Recalls 1.9 Million Prius Hybrids

TOKYO (AP) - Toyota is recalling 1.9 million hybrid Prius cars globally for a software glitch that could cause the vehicle to stall. Toyota Motor Corp. said Wednesday that 997,000 Prius cars in Japan, some 713,000 in North America, another 130,000 in Europe and the rest in other regions are being recalled for a problem in the software to control the hybrid system. No accidents or injuries have been reported related to the problem. The software could cause transistors to become damaged, causing warnings lights to go off, driving power to be reduced or the car to stop. The recalled vehicles were manufactured between March 2009 and February 2014. The Japanese automaker suffered massive recalls starting in 2009, affecting more than 14 million vehicles for problems including floor mats, gas pedals and brakes. Affected vehicles include: 2010-2014 Prius vehicles, 2012 Toyota RAV4, 2012-2013 Toyota Tacoma and 2012-2013 Lexus RX 350 vehicles sold in the United States. Related Gallery AOL Autos Test Drive: 2014 Toyota Highlander Recalls Toyota