DIRS.INFO The most relevant business & tech news

☆ UAW files for union vote at Volkswagen’s Tennessee plant
▼ + stars: | 2024-03-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —The United Auto Workers union is seeking a union representation vote among more than 4,000 hourly workers at the Volkswagen plant in Chattanooga, Tennessee. The union has announced a broad-based campaign to win representation at the American plants of 13 nonunion automakers. That is slightly more than the union’s representation at the three unionized automakers, which have about 145,000 UAW members between them. The VW Chattanooga plant is the only factory operated by VW that does not have union representation. Once the election process starts, management often holds mandatory meetings with staff to make the case against union representation, and that convinces some earlier supporters of the union to end their support.

Persons: –, ”, Victor Vaughn, ” Vaughn, “ Organizations: New, New York CNN, United Auto Workers, Volkswagen, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, – Tesla, –, Motors, Ford, Jeep, Dodge, Chrysler, VW, ” Locations: New York, Chattanooga , Tennessee, VW Chattanooga, Chattanooga

☆ Read the Class Action Complaint Against G.M. and LexisNexis Risk Solutions
▼ + stars: | 2024-03-14 | by ( ) www.nytimes.com time to read: +2 min

On March 11, 2024, the New York Times reported an investigative piece about this exact issue.² The article highlights individuals who have had their insurance rates increase due to Lexis publishing, among others, General Motors car drivers' data. For one consumer "[i]t felt like a betrayal" because GM took "information that [he] didn't realize was going to be shared[.]" In recent years, automakers, including G.M., Honda, Kia and Hyundaí, have started offering optional features in their connected-car apps that rate people's driving. Some drivers may not realize that, if they turn on these features, the car companies then give information about how they drive to data brokers like LexisNexis... Especially troubling is that some drivers with vehicles made by G.M.

Persons: G.M, Last Organizations: New York Times, Lexis, General Motors, Honda, Kia, LexisNexis, Chevrolet, Smart

☆ EV euphoria is dead. Automakers trumpet consumer choice for U.S. car shoppers
▼ + stars: | 2024-03-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Andrew Merry | Moment | Getty ImagesDETROIT — The buzz around electric vehicles is wearing off. U.S. EV sales were a record 1.2 million units last year, representing 7.6% of the overall national market, Cox Automotive estimates. "Moving on to less tech-savvy buyers will slow the EV market share growth over the next few years." Automakers wanted to emulate Tesla's success, with some promising to exclusively offer EVs in the not-too-distant future. "Toyota is almost completely absent from the [battery electric vehicle] market yet will gain more U.S. market share than any other car company this year.

Persons: hasn't, Andrew Merry, Aston Martin, Tesla, Elon Musk, Marin Gjaja, Ford, Pablo Di Si, Sam Fiorani, Romeo, Bentley, Mary Barra, there's, Cadillac, John Roth, We've, Gjaja, Jim Farley, Rebecca Cook, Oliver Blume, Akio Toyoda, Morgan Stanley, Adam Jonas, It's, Biden, Cox, Michelle Krebs, EVs, Trisha Jung Organizations: DETROIT, EV, Ford Motor, General Motors, Mercedes, Benz, Volkswagen, Jaguar, Rover, CNBC, GM, Hyundai Motor, Kia, Toyota Motor, VW, U.S, Cox Automotive, AutoForecast Solutions, Volvo, Buick, Cadillac, Honda, Ford Motor Co, Ford, Amperex Technology, Toyota, Cox, Tesla, Nissan, Nissan U.S, Environmental Protection Agency, Alliance for Automotive Innovation, American Automotive, Detroit automakers Locations: EVs, Europe, U.S, North America, Warren , Michigan, Detroit, Marshall , Michigan, Romulus , Michigan

☆ Goldman Sachs just added — and removed — stocks on its 'conviction list' of top Asian picks
▼ + stars: | 2024-03-13 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Goldman Sachs has refreshed its "conviction list" of top picks in Asia Pacific for March, adding some key stocks and removing others. Here are two of the latest additions to Goldman Sachs' conviction list: Xero Goldman analyst Kane Hannan said he was positive on the outlook for New Zealand-headquartered accounting software company Xero . Goldman Sachs has a price target of $152 on the stock, giving it potential upside of around 12%. Hyundai Motor Another addition to Goldman's conviction list is South Korean automobile manufacturer Hyundai Motor . Meanwhile, the Wall Street bank removed Singapore-headquartered bank OCBC and Japanese conglomerate Sony from its conviction list as it no longer deems them "a top investment idea."

Persons: Goldman Sachs, Xero Goldman, Kane Hannan, Hannan, Intuit's Quickbooks, Sage, Kota Yuzawa, Yuzawa, Goldman, Michael Bloom Organizations: Asia, Hyundai, South, Hyundai Motor, Won, Sony Locations: Asia Pacific, U.S, Mar, New Zealand, Australia, South Korean, Singapore

☆ How Georgia became America's green-manufacturing capital
▼ + stars: | 2024-03-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +14 min

Howey, now 30, grew up in northwestern Georgia near Dalton, a small city known as the "carpet capital of the world." SolarCycle, which reclaims old solar panels to make new ones, in February announced plans for a glass factory. The law authorized big tax credits for companies making renewable-energy technologies, including solar panels, batteries, and electric vehicles, in the US. According to S&P Global, the US imported more than two-thirds of its solar panels from Southeast Asia last year. When he sees solar panels atop the chargers, he feels pride in his job.

Persons: Robert Howey, Howey, he'd, Qcells, Catherine Boudreau, Joe Biden, Biden, Bob Keefe, Keefe, Gedia, Pat Wilson, Wilson, Brian Kemp, Benz, Dalton, Kemp, Heidi Popham, Popham, Donald Trump, Scott Moskowitz, Sen, Jon Ossoff of, Moskowitz, it's, Carl Campbell, Campbell, —, Whitfield, Jevin Jensen, Jensen, He's Organizations: US Navy, Business, Qcells, South, Hanwha, SK, Hyundai, Georgia Department of Economic, Gov, Porsche, Mercedes, SK On's, Financial Times, Georgia Northwestern Technical College, Treasury Department, P Global, Microsoft, Development Authority, Shaw Industries, Mohawk Industries, EV Locations: Georgia, Dalton, Japan, Cartersville, South Korea, Malaysia, North Carolina, China, Georgia , North Carolina, South Carolina, Savannah, Atlanta, Cartersville , Georgia, Germany, Commerce , Georgia, Southeast Asia, Korea, Jon Ossoff of Georgia, Washington, BloombergNEF, Vietnam, Whitfield County, ., Whitfield, Calhoun

☆ China's BYD is the world's biggest electric car maker — but it's not coming to America anytime soon
▼ + stars: | 2024-03-09 | by ( George Glover | ) www.businessinsider.com time to read: +6 min

Read previewJapanese and Korean carmakers cracked the US market long ago — but don't expect Chinese EV seller BYD to repeat that feat. Advertisement"It'd be very difficult for a Chinese EV maker to enter the US market," Seth Goldstein, an equity strategist at Morningstar, told Business Insider. The bill, a key part of US President Joe Biden's economic agenda, offers tax credits worth up to $7,500 for EV makers, excluding any "Foreign Entity of Concern." BYD isn't the only company turning its back on the US EV market. Given that EV sales growth is stalling in US, it's perhaps little wonder companies like BYD are not too bothered.

Persons: —, There's, Tesla, We're, Stella Li, BYD, Seth Goldstein, I'm, Suzuki, Jim Farley, Will Roberts, Goldstein, Roberts, Joe Biden's, Joe Biden, Demetrius Freeman, Rho Motion's Roberts, you'd, Li, carmakers Organizations: Service, Yahoo Finance, Business, Morningstar, Toyota, Motors, Nissan, Mazda, Lexus, Honda, Mitsubishi, Korea's Hyundai, Kia, North, Ford, EV, Rho, Energy, Treasury, Washington Post, Cox Automotive, Apple Locations: Korean, North America, —, China, North American, Russia, Iran, North Korea, Brazil, Thailand, Americas, Asia, South America

☆ Rivian reveals its new, more affordable off-road EVs
▼ + stars: | 2024-03-07 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

Prices for the R2 SUV, which will go on sale in early 2026, will start at around $45,000, Rivian said. That’s something that set the larger R1S apart among electric SUVs, few of which can seat more than five. The Rivian R2. The Rivian R2 and R3 are Rivian’s smaller, more affordable off-road EVs Rivian“For $75,000 I can buy a Mercedes or a BMW, a 100-year-old Europe power house,” he said. Without naming Rivian, Scout chief executive Scott Keogh noted the advantage of Scout’s established brand name.

Persons: CNN — Rivian, Rivian, R.J, Scaringe, It’s, “, ” Scaringe, won’t, Sandeep Rao, ”, Scott Keogh, ” Keogh Organizations: CNN, US EV, BMW, Kia, Hyundai, Volkswagen, Scout, International Harvester Locations: Georgia, Europe, South Carolina

☆ Where Electric Vehicles Are (and Aren’t) Taking Off Across the U.S.
▼ + stars: | 2024-03-06 | by ( Nadja Popovich | ) www.nytimes.com time to read: +7 min

Where Electric Vehicles Are (and Aren’t) Taking Off Across the U.S.Last year, Americans bought more than one million fully electric cars, trucks and SUVs, a record and a milestone for the country’s transition away from gas-powered vehicles. To fight climate change, the Biden administration and many state governments want to accelerate the transition to electric vehicles. experience from pretty easy and kind of hard,” said Ken Kurani, a researcher focused on electric vehicles at the University of California, Davis. Only two electric vehicles in the analysis, both made by Tesla, cost the same or less than similar gas models. But for now, “there are some very real ways in which, in comparison to conventional vehicles, electric vehicles either really are still struggling to be as good or better, or are struggling against the imagination that they’re not as good or better,” he said.

Persons: Tom Libby, Mr, Libby, “, ”, Biden, Ken Kurani, Kurani, Brittany Greeson, Philip Cheung, We’re, Tesla, “ We’re, Jessica Caldwell, Kelley, Davis Organizations: P Global Mobility, P, Pew Research Center, University of California, The New York Times, BMW, Ford, Hyundai, General Motors Locations: Florida, Texas, West Coast, California, San Francisco Bay, Los Angeles, Detroit, Bismarck, N.D, United States, Davis, Chicago, Norway, Edmunds, U.C

☆ Musk said Tesla cars would rise in value, H but here’s what really happened
▼ + stars: | 2024-03-03 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

CNN —Back in 2019, Elon Musk made an astonishing claim for Tesla vehicles. But four years after Musk’s 2019 prediction, the average used Tesla Model 3 is selling for $29,000. Sticker prices for new Teslas dropped about 21% over the past year, according to Cox Automotive. Logically, people expect to pay less for a used car than they would for a new one. Why buy a used car if you could get a brand new vehicle for only a little more or maybe even less, after all?

Persons: Elon Musk, Musk, ”, Tesla, “, FSD, Ivan Drury, Wall, Teslas, Hertz, ” Hertz, Stephen Scherr, ” Drury, EVs, Drury Organizations: CNN, Cox Automotive, EV, Hyundai, Kia, Audi, Volkswagen, Edmunds.com, Tesla Locations: America, Ford, Edmunds.com, Colorado

☆ Toyota to invest $2 billion in Brazil, says Brazilian vice-president
▼ + stars: | 2024-03-03 | by ( ) www.cnbc.com time to read: +1 min

A Toyota dealership in Yokohama, Japan, photographed on Feb. 7, 2021. Japanese auto maker Toyota will announce on Tuesday an 11 billion real ($2.2 billion) investment for the next few years in Brazil, the South American country's vice-president said on Sunday. Toyota said in a statement earlier on Sunday, after local media had first reported the new investments, it had no comment on potential future plans. Brazil's vice-president and minister for industry Geraldo Alckmin said on social media the investments will be unveiled at an event in Toyota's factory in the city of Sorocaba, Sao Paulo state. Toyota would be the latest global automaker to unveil plans for extra investment in Brazil this year, following companies such as Volkswagen, General Motors and Hyundai Motor.

Persons: Geraldo Alckmin, Lauro Jardim Organizations: Toyota, American, Sunday, Volkswagen, General Motors, Hyundai Motor Locations: Yokohama, Japan, Brazil, Toyota's, Sorocaba, Sao Paulo

☆ South Korea Needs Foreign Workers, but Often Fails to Protect Them
▼ + stars: | 2024-03-02 | by ( Choe Sang-Hun | ) www.nytimes.com time to read: +1 min

But the nation is more dependent than ever before on an import to keep its factories and farms humming: foreign labor. This shift is part of the fallout from a demographic crisis that has left South Korea with a shrinking and aging population. President Yoon Suk Yeol’s government has responded by more than doubling the quota for low-skilled workers from less-developed nations including Vietnam, Cambodia, Nepal, the Philippines and Bangladesh. Hundreds of thousands of them now toil in South Korea, typically in small factories, or on remote farms or fishing boats — jobs that locals consider too dirty, dangerous or low-paying. With little say in choosing or changing employers, many foreign workers endure predatory bosses, inhumane housing, discrimination and other abuses.

Persons: —, Yoon Suk Organizations: Samsung, Hyundai, LG Locations: South Korea, Vietnam, Cambodia, Nepal, Philippines, Bangladesh

☆ How Hyundai Motor Group became the world's third-largest automaker
▼ + stars: | 2024-02-29 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

Hyundai Motor Group is the world's third-largest automaker in the world by volume — but it wasn't always so. The three auto brands in the automaker's stable — Hyundai, Kia and Genesis — are nipping at the heels of well-established competitors, and winning an ever-growing list of industry awards. Tesla still dominates the electric vehicle industry, but Hyundai Motor Group is the second best-selling EV manufacturer in the U.S."On the electrification side, Hyundai has done a really great job," said Sam Abuelsamid, principal research analyst at Guidehouse Insights. "I think Hyundai Motor Group isn't a car company," said Jose Munoz, the global president and chief operating officer at Hyundai. Watch the video to learn more about how Hyundai became the third-largest global automaker.

Persons: William Barnett, Tesla, Sam Abuelsamid, They've, Jose Munoz Organizations: Hyundai Motor, Hyundai, Kia, American, Stanford Graduate School of Business, Guidehouse, United Auto Workers Locations: America, U.S, Singapore

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's how Hyundai became the third-largest automakerHyundai Motor Group is the third-largest automaker in the world by volume. In the 90s, it suffered low sales and a poor reputation. Now its three auto brands — Hyundai, Kia and Genesis — are some of the top-selling cars and winning awards for great quality and performance. While Tesla dominates EV sales, Hyundai and Kia are close behind. But the company has faced setbacks: a plague of thefts, millions of vehicles at risk of catching fire, a looming union push and a snub from the U.S. government.

Organizations: Hyundai, Hyundai Motor, Kia, EV, U.S .

☆ Why South Korea's Japan-style measures to boost its stock market may not work
▼ + stars: | 2024-02-28 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

An inflatable bull during a ceremony marking the first day of trading of the year at the Korea Exchange (KRX) headquarters in Seoul, South Korea, Tuesday, Jan. 2, 2024. SeongJoon Cho/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesSouth Korea's Japan-style measures for improving corporate governance may not be enough to boost its undervalued stock markets and tackle the so-called "Korea discount." Asia's fourth-largest economy is striving to boost stock market valuations that are considered much lower compared to peers, with analysts referring to the phenomenon as the "Korea discount." The 'chaebol' problemSouth Korean markets are made up of corporations called "chaebols," which are large family-owned global conglomerates, typically controlled by the founder's family. "The behavior that leads to South Korea's low stock prices is motivated, and therefore seeking to coax South Korean controlling families into 'being nice' to minority stockholders is unlikely to be successful," Pines said.

Persons: SeongJoon Cho, James Lim, Jonathan Pines, Federated Hermes, Daniel Tan Organizations: Korea Exchange, Bloomberg, Getty Images Bloomberg, Getty, Financial, FSC, Samsung Electronics, LG, SK, Hyundai, Dalton Investments, Japan, Korean Stock Exchange, Federated, Grasshopper Asset Management, CNBC Locations: Seoul, South Korea, Japan, Korea, Tokyo, Asia, Singapore

☆ Electric air transport is set to take off with taxis, ambulances, cargo deliveries by end of this decade
▼ + stars: | 2024-02-26 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

A model of a Wisk Aero LLC electric vertical takeoff and landing (eVTOL) air taxi during the Singapore Airshow in Singapore, on Wednesday, Feb. 21, 2024. Bloomberg | Bloomberg | Getty ImagesSINGAPORE — Among displays of defense jets, passenger airliners and high-tech aviation equipment at the Singapore Airshow were electric air transport vehicles — touted as the future of urban transportation. Electric vertical take-off and landing vehicles, or eVTOLs, which can land and take off vertically can be used as air taxis, for cargo delivery, medical and emergency response transportation and as private vehicles. A vertical takeoff electronic aircraft from Supernal is seen outside the Las Vegas Convention Center during the Consumer Electronics Show in Las Vegas, Nevada on Jan. 10, 2024. A cabin of an electric vertical take-off and landing (eVTOL) aircraft developed by Eve Air mobility displayed during the International Paris Air Show on June 20, 2023.

Persons: eVTOLs, Brendan Smialowski, Johann Bordais, Eve, Jaiwon Shin, Shin, Supernal's, Tencent, Catherine MacGowan, Wisk, MacGowan, Supernal's Shin, Geoffroy Van Der Organizations: Aero, Bloomberg, Getty, Singapore Airshow, CNBC, Hyundai Motor Group, Boeing, Embraer, Air Mobility, Las Vegas Convention, Consumer, Afp, Mobility, Singapore, Asia Companies, Olympic, Japan Airlines, Korea's, Korean Air, Supernal, Incheon International Airport, Eve, International Paris Air Locations: Singapore, SINGAPORE, Supernal, Las Vegas , Nevada, Asia, U.S, Brisbane, Australia, Japan, Asia —, South Korea, Korea, Incheon, South, Geoffroy Van Der Hasselt

☆ No, electric vehicle sales aren’t dropping. Here’s what’s really going on
▼ + stars: | 2024-02-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

(BNEF’s figures include plug-in hybrids, but the large majority are fully electric vehicles.) High pricesMost electric vehicles currently on sale in America are on the more expensive side of the automotive market. Power, referring to the Kia EV9 and Cadillac Lyriq electric vehicles. Besides raw numbers, the EV chargers that are currently available tend to rate low with consumers in terms of reliability, according to J.D.. Power surveys. Public chargers are more important to people who can afford neither an expensive vehicle nor a house with private parking.

Persons: CNN — Tesla, ”, Tyson Jominy, Kia, Corey Cantor, Jim Farley, Farley, Jominy, Tesla, Carlos Tavares, Valdez Streaty, “, “ We’re Organizations: CNN, Ford, Cox Automotive, Bloomberg New Energy Finance, Kia, J.D, ” Ford, National Renewable Energy Laboratory, US Department of Energy, DOE, EV, BMW, GM, Honda, Hyundai, Benz, Stellantis, Dodge, Leasing Locations: United States, America, California, Canada, New York

☆ Can South Korea's untouchable chaebols change?
▼ + stars: | 2024-02-23 | by ( Nessa Anwar | ) www.cnbc.com time to read: +1 min

There are 82 chaebols in South Korea as of 2023. These are conglomerates that are usually run by one single family, with total assets that exceed 5 trillion Korean won ($3.69 billion). These sprawling business dynasties have helped transform South Korea's economy from one of the poorest in the 1960s to one of the largest exporters in the world. Sang-in Park, an economics professor at Seoul National University, said that South Korea's rapid economic growth contributed to the unchecked power of the Korean chaebols. Watch the video to find out more about the history and future of the big business groups in South Korea.

Persons: Lee, Park Chung, Sang Organizations: Samsung, Hyundai, LG, Ko Global Commerce Institute, CNBC, Seoul National University Locations: South Korea, South Korea's, Park, South

☆ Hyundai subsidiary Supernal says it's tapping the Asia-Pacific market for advanced air mobility
▼ + stars: | 2024-02-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHyundai subsidiary Supernal says it's tapping the Asia-Pacific market for advanced air mobilityJaiwon Shin, CEO of Supernal, discusses its S-A2 eVTOL (electric vertical take-off and landing) aircraft concept. He says the company hopes it'll enter the market in 2028, adding that "we are really trying to build this vehicle to meet the safety standards of commercial aviation. If we don't do that, I don't believe public acceptance will be there."

Persons: Shin, it'll Organizations: Hyundai Locations: Asia, Pacific

☆ Ford says it has a ‘Skunk Works’ team trying to make lower-cost EVs
▼ + stars: | 2024-02-09 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —Ford says it has a top-secret, high-powered team working to design its future electric vehicles. Electric vehicle sales increased by 40% in the fourth quarter of 2023 compared to the same period in 2022, according to Cox Automotive. In a study released late last year by S&P Global Mobility, almost half of people surveyed globally thought EV prices were too high. “We developed a super-talented ‘Skunk Works’ team to create a low-cost EV platform,” Farley said. By dubbing its own operation as a “Skunk Works” team, Ford is seeking to put the scale of the matter front-and-center.

Persons: CNN — Ford, ”, Yanina Mills, Ford, Jim Farley, ” Farley, Tesla Farley, Tesla, Farley, Alan Clarke, EVs Farley Organizations: CNN, Tesla, Audi, Mercedes, Ford, Cox Automotive, P Global Mobility, United Auto Workers, Skunk, Lockheed, Skunk Works, Reuters, Works, Hyundai, Ford Pro, EV, EVS Locations: China, Asia, Europe

☆ Leaked Tesla pay data: How much Elon Musk's factory workers now make across the US after some got raises
▼ + stars: | 2024-02-08 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Read previewTesla hiked pay for factory workers across the US last month. Internal documents viewed by Business Insider reveal how much the factory workers now make. Under the new pay guidelines that were announced in December and implemented on January 8, factory workers at Tesla make between $22 to $39 per hour, according to the internal documents. AdvertisementTesla divides its factory workers into seven levels, while leads are divided into two levels. The effort won't be without its challenges, as CEO Elon Musk has voiced confidence that a union isn't necessary and some Tesla workers previously told BI they'd be hard-pressed to join a union.

Persons: —, Tesla, autoworkers, Shawn Fain, Elon Musk Organizations: Service, Business, Tesla, Fremont, US Bureau of Labor Statistics, Workers, Bloomberg, Toyota, Hyundai, United Auto Workers, Fremont Factory, UAW Locations: Austin , Texas, Sparks , Nevada, Fremont, Palo Alto , California, California, Nevada, Texas

☆ Self-navigating ships could change the shipping industry. Here are the companies poised to benefit
▼ + stars: | 2024-02-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

Worldwide, the autonomous ships market reached $4.13 billion in 2022, and is forecasted to grow to $10.1 billion in 2032, according to Emergen Research . Avikus said this journey marked the first time autonomous navigation successfully enabled a large vessel to complete a trip over 10,000 kilometers. HiNAS 2.0 deployed a level-three autonomous navigation system, meaning that human intervention is only deployed in an emergency situation. The success of the HiNAS 2.0 and Prism Courage journey marked a foray into greater commercialization and implementation of autonomous ship navigation technology. The company is aiming for its fully autonomous ship technology to reach full-scale commercialization by 2025.

Persons: Patrick Ryan, Covid, Courage, Avikus, Carol Schleif, Rudy Negenborn, — Ryan, Ryan, BMO's, Morgan Stanley, Ravi Shanker, Shanker, Hunt, C.H, Robinson, Negenborn Organizations: Research, American Bureau of Shipping, Hyundai, Yara International ASA, Yara, BMO Family, Delft University of Technology, Moeller, Maersk, Yara International, Mitsui, Mitsui O.S.K, Royce, Shipbuilders, Expeditors International Locations: Covid, Avikus, Freeport, of Mexico, Panama, Korea, Red, Suez, U.S, Danish, American, ADRs, Japan

SAVANNAH, Ga. (AP) — The Georgia Ports Authority said Tuesday that it moved a record number of automobiles across its docks in Brunswick last year, while goods shipped to Savannah in cargo containers declined 16%. The news comes as port authority CEO Griff Lynch has set a goal of Brunswick surpassing the Port of Baltimore as the No. We've been creating capacity in Brunswick,” Lynch said in an interview, adding that more growth is possible in 2024. Savannah handled 4.9 million container units of imports and exports last year, down 16% compared with calendar 2022. “I fully believe that when we look at February and March and April, we should see some positive numbers year-over-year,” Lynch said.

Persons: Griff Lynch, We've, ” Lynch, Lynch, “, ” Organizations: Georgia Ports Authority, Brunswick, Port, Auto, Hyundai, Kia, U.S Locations: SAVANNAH, Ga, Georgia, Brunswick, Savannah, Port, Port of Baltimore, Southern, U.S, Atlanta, West, New York, Los Angeles, Long Beach , California

☆ Want to invest in China's booming EV market? These ETFs could offer a good way in
▼ + stars: | 2024-01-30 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

As China's electric vehicle market goes from strength to strength, investors worldwide are showing a growing interest in getting involved. The chief investment officer singled out BYD , which recently beat Tesla to become the top global EV maker, as a "favorite" car maker, and battery-making giant Contemporary Amperex Technology ( CATL ). But significant hurdles remain for retail investors before they can be part of China's EV growth story. However, the veteran investor pointed out that ETFs with concentrated positions remain viable options for those seeking exposure to the Chinese EV growth potential. The fund also has a 5% position in Chinese EV maker BYD, according to FactSet data.

Persons: Kingsley Jones, Jevons, CNBC's, BYD, Tesla, Kingsley, Li Auto, BATT, Jones, BATT CGRO Organizations: Jevons Global, Technology, BMW, Hyundai, Honda, China EV, Battery Technology, China Growth, BATT, BYD, CNBC, Alpha, CGRO Locations: Hong Kong, China, U.S, Europe, BYD, Australia, Canberra, Xiaomi

☆ Hyundai finalizes Russia exit as local firm buys its two car plants
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: +2 min

Hyundai on Friday said it had signed a deal to sell its two Russian plants, making the South Korean firm the latest global carmaker to exit Russia since the Ukraine conflict began. Hyundai Motor said in December it planned to sell its Russian assets for 10,000 roubles ($111.69), taking a 287 billion won ($214.7 million) loss. Art-Finance is owned by Andrei Pavlovich, who acquired Volkswagen's Russian assets in May 2023. Volkswagen's factory was renamed to AGR Automotive. Hyundai in December said it planned to continue operating post-sales services for existing vehicles in consideration of local conditions in Russia.

Persons: Andrei Pavlovich, Volkswagen's Organizations: Hyundai, Art, Finance, Motors, AGR Automotive Locations: Korean, Russia, Ukraine, Hyundai's St, Petersburg, Russian, Moscow, St Petersburg

☆ The rental market is getting out of hand, with millions of Americans spending the majority of their paychecks on housing
▼ + stars: | 2024-01-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

In today's big story, we're looking at how much Americans spend on rent and why cheap properties are so hard to come by. And now a new Harvard study demonstrates how costly the rental market has become, Business Insider's Pete Syme writes. Harvard's Joint Center for Housing Studies estimated 12.1 million American households spend more than half their income on rent and utilities. That number grows to 22.4 million households for those spending more than 30% of their income on rent and utilities. Meanwhile, experts predict the housing market will reverse course this year as housing inventory increases and mortgage rates fall.

Persons: —, Tom Williams, Pete Syme, BI's Eliza Relman, Juliana Kaplan, There's, that's, Angela Ostafichuk, Justin Sullivan, Mario Tama, Tesla, Elon Musk, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, Business, Getty, Harvard, for Housing Studies, BI, Apple, Alaska Airlines, Boeing, American Express, Hyundai, Brands, Dolce, Gabbana Locations: Capitol, Washington, That'll, New York, London

Search resuls for: "HYUNDAI"

25 mentions found