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"Samsung, in a roundabout way, is saying production will decrease slightly," said analyst Kim Yang-jae at Daol Investment and Securities. CHIP PROFIT TUMBLESEarlier on Tuesday, Samsung reported its lowest quarterly profit since 2014 and said persistent macroeconomic uncertainty will make for a tough first half of this year, though it expects demand to start recovering in the second half. At 4.3 trillion won ($3.49 billion), October-December operating profit was Samsung's lowest quarterly profit in eight years. Some analysts expect the chip business to book a loss in the first quarter, pulling overall profit below that of the fourth. In mobile, Samsung said fourth-quarter profit fell to 1.7 trillion won from 2.66 trillion won a year earlier, as a decline in low- and mid-end smartphone sales was greater than expected.

☆ General Motors doesn’t expect significant U.S. production of EVs until second half of year
▼ + stars: | 2023-01-31 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

Barring any supply chain problems, Betts said electric vehicles should be easier and faster to build than traditional vehicles with internal combustion engines for an experienced automaker. Photo by Steve Fecht for General MotorsBut others such as Hyundai Motor and Ford Motor have been ratcheting up production of EVs. Industry leader Tesla also targets to produce 2 million electric vehicles globally this year. Ford, which ranked second in EV sales in the U.S. last year, expects to increase production of its electric Ford F-150 Lightning. GM expects to ramp-up production of the Bolt models, which use older battery technology, to 70,000 vehicles this year, GM has said.

☆ Why Auto Marketing Looks Poised for Growth in 2023
▼ + stars: | 2023-01-27 | by ( Megan Graham | ) www.wsj.com time to read: +5 min

A year like that might typically drive auto marketing off a cliff. “We haven’t taken our foot off the accelerator, because we do see the transformation of EVs occurring,” Mr. Wager said. “You don’t put a vehicle in the Super Bowl to sell 20,000 vehicles—that doesn’t make any sense,” Mr. Wager said. “You wouldn’t put it on television normally, unless you’re creating the halo of the electrification of the brand,” Mr. Wager said. Kia will be at the Super Bowl again this year, this time advertising its Telluride SUV.

☆ Some auto insurers are refusing to cover some Hyundai and Kia models
▼ + stars: | 2023-01-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Progressive and State Farm, two of America’s largest auto insurers, are refusing to write policies in certain cities for some older Hyundai and Kia models that have been deemed too easy to steal, according to one of the insurance companies and media reports. The insurance companies did not tell CNN which cities or states were involved. Hyundai and Kia operate as separate companies in the United States, but Hyundai Motor Group owns a large stake in Kia and various Hyundai and Kia models share much of their engineering. Engine immobilizers are now standard on all Kia vehicles, according to a statement by the automaker and the company says it has been developing and testing security software for vehicles not originally equipped with an immobilize. Hyundai said it is providing free steering wheel locks to some police departments around the country to give local residents who have easily stolen Hyundai models.

☆ Hyundai Motor's Q4 net profit triples but misses expectations
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Jan 26 (Reuters) - South Korea's Hyundai Motor Co (005380.KS) on Thursday reported a tripling in fourth-quarter profit on strong demand for its high-margin sport-utility vehicles and a weak won. Hyundai Motor reported a net profit of 1.7 trillion won ($1.4 billion) for the October-December period versus a profit of 547 billion won a year earlier, when the automaker booked some one-off costs. That compared with a Refinitiv SmartEstimate for fourth-quarter profit at 2.5 trillion won drawn from 18 analysts. Like many other automakers, Hyundai benefited from the tight supply of new vehicles last year which have kept retail prices high. Shares in Hyundai Motor rose on Thursday to be up 4.4% in afternoon trade.

☆ For automakers, the EV surge is everything everywhere all at once
▼ + stars: | 2023-01-26 | by ( Joseph White | ) www.reuters.com time to read: +4 min

He must accelerate the Japanese automaker's efforts to develop more competitive electric vehicles. But he will get little breathing room from Tesla or the Chinese EV manufacturers who are using their leads in EV technology and production costs to slash prices. THE SHIFTING GROUNDGlobal automakers are experienced with periods of feast and famine that come on roughly seven-to-ten year cycles. South Korea's Hyundai Motor Co (005380.KS) on Thursday reported better-than-expected results powered in part by strong sales of its new EV lineup. Hyundai forecast its EV sales would grow by 54% this year - a faster growth pace than Tesla has forecast.

☆ Consumer Reports calls Ford’s automated driving tech much better than Tesla’s
▼ + stars: | 2023-01-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

And in a recent ranking by Consumer Reports, which tested ADAS from 12 different carmakers, Tesla’s ranked seventh. GM’s Super Cruise, which ranked second, is the only other system tested by Consumer Reports that works this way. Ford’s driver monitoring technology is one of the major reasons that BlueCruise ranked so highly in Consumer Reports’ testing. Kia and Genesis did not immediately respond to requests from CNN Business for comments on Consumer Reports’ assessments. For the most part, vehicle owner’s manuals were of little use in learning how to use the systems, Consumer Reports said.

On Monday, South Korean President Yoon Suk Yeol announced that the United Arab Emirates had pledged a staggering $30 billion in investment in the Asian country. The news came after the leaders of the two nations held talks in Abu Dhabi on Sunday, in a landmark trip that marked the first-ever state visit to the UAE by a South Korean president, according to a statement from Yoon’s office. In total, representatives from approximately 100 South Korean companies traveled with the president, according to his office. Some South Korean firms also agreed to build farms for tomatoes and strawberries in the UAE, a country that relies heavily on imports of agricultural products. Going forward, South Korea “will be a key partner in the global supply chain,” using its expertise in sectors such as semiconductors and steel-making to help stabilize supply chains, he pledged.

GM and the factory workers - who allege illegal termination after the company decided to exit - have been locked in legal battles since 2021. The latest filing signals an escalation in the dispute as workers accuse GM's India unit and its executives, including CEO Mary Barra, of failing to follow court orders. In its earlier court filings, it has said the industrial court acted beyond its power in ordering the compensation. The union disagreed, and said GM continues to "blatantly violate" the industrial court's order by not paying the workers a single cent. After that, GM ceased all operations and moved to close the plant in Maharashtra, but it has not received permission.

☆ 4 women execs at Meta, Pinterest, Hyundai and Heineken share the early morning routines that helped them climb the corporate ladder.
▼ + stars: | 2023-01-19 | by ( Lola Christina Alao | ) www.businessinsider.com time to read: +6 min

Insider talked to four female senior executives about their morning work routines. They all start work no later than 7:30 a.m.Two of the execs — Christine Trodella and Olabisi Boyle — prefer to take walking meetings. Insider spoke with four women who've climbed to the corporate ladder — up to senior executive roles at companies including Hyundai and Pinterest — about theirs. Christine TrodellaChristine Trodella, the director of B2B-commercial sales for Reality Labs at Meta, typically starts work between 6 and 7 a.m. "I start work between 7:15 and 7:30 a.m. but wake up at 5 a.m. to give myself time to breathe," she said.

According to the document, Aramco's investment would be used to support development of decarbonization technologies for gasoline engines. SUBJECT TO BOARD APPROVALSThe oil company's deal with Geely and Renault still needs approval by the boards of the automakers, one of the people said. For Geely, the deal with Renault extends its pattern of building partnerships to expand beyond China. In that kind of arrangement, gasoline engines could be designed to operate in an "exceptionally efficient mode," one of the sources said. Geely has a previously announced a hybrid gasoline engine development deal with Mercedes-Benz (MBGn.DE) and holds a stake in the German automaker.

☆ Indonesia says investment talks with Tesla still ongoing
▼ + stars: | 2023-01-12 | by ( Bernadette Christina | ) www.reuters.com time to read: +3 min

Luhut Pandjaitan, who has been leading the talks with Tesla, declined to disclose further details, citing a non-disclosure agreement. Bloomberg News also reported that the Indonesia talks include plans for production facilities and to facilitate the company's supply chain, citing people familiar with the matter. "I can't comment, we're still talking," Luhut told Reuters, adding that he had just recently held another round of talks with Tesla. Tesla currently makes its electric cars in China's Shanghai, Germany's Berlin, and Austin and Fremont in the United States. Indonesian authorities have said Japanese firms Toyota Motor Corp (7203.T) and Mitsubishi Motors Corp (7211.T) have pledged investments in EV production.

☆ SK On says it is undecided whether to proceed with battery venture with Ford, Koc
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. "After signing the MoU in March 2022, we have been discussing the joint venture case in Turkey, but discussions have not been completed. The final decision whether or not to halt negotiations regarding the joint venture has not been made yet," SK On said in a statement. SK On is the wholly owned battery unit of SK Innovation Co Ltd (096770.KS), and counts Hyundai Motor Co (005380.KS), Volkswagen AG (VOWG_p.DE) and Ford Motor among its customers. In announcing the joint venture plans in March, SK On said the partners aimed for annual production capacity of 30-45 gigawatt hours (GWh) with production starting in 2025.

[1/2] The rear light of a Dacia Spring electric car is pictured during the Brand Manifesto Dacia event at Le Bourget near Paris, France, September 13, 2022. It also points to the shifting perception of the auto market in India, which posted the fastest growth of any major market in 2022. Renault is studying launching a made-in-India electric version of its Kwid hatchback, the people told Reuters. To qualify for incentives in India, Renault would have to build the car at its alliance plant in southern India and source components locally, the first person said. As a part of the India reboot, Renault also plans to invest in refurbishing and upgrading some of its major dealerships in big cities, the person said.

☆ Mercedes expects double-digit growth in India in 2023 despite weak rupee
▼ + stars: | 2023-01-08 | by ( Aditi Shah | ) www.reuters.com time to read: +2 min

NEW DELHI, Jan 8 (Reuters) - Mercedes Benz (MBGn.DE) expects double-digit sales growth in India this year, despite concerns that a weaker rupee could increase car prices, the head of its local unit said in an interview. So that's some headwind we see when it comes to the growth potential," Iyer said. "But we are starting the year with a very healthy order bank and that gives us the confidence of a double-digit growth even for 2023," said Iyer. Mercedes plans to launch 10 new cars in India in 2023, most costing more than 10 million rupees ($120,000), the top-end segment that grew 69% in 2022. The company launched three EVs in India in 2022 including a locally assembled, electric model of its flagship S-Class sedan.

Automakers from Sony Honda to Hyundai are introducing ways at the CES 2023 technology trade show this week to reshape the in-car entertainment experience, including offering video games during the rides. "This is a field which can be deployed very quickly," Dirk Hilgenberg, head of Volkswagen AG's (VOWG_p.DE) CARIAD software unit, told Reuters at CES. In December, Tesla issued a "holiday update" to its software to add access to 1,000 PC games through the Steam platform. Still, these are features that consumers are demanding, so VW is at CES seeking partnerships. "We will see the content ... which is provided by software enabled functionality will be a decisive factor for buying."

☆ Stellantis to build U.S. firm Archer's air taxi
▼ + stars: | 2023-01-04 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

PARIS, Jan 4 (Reuters) - Car maker Stellantis (STLA.MI) will help build Archer Aviation's (ACHR.N) electric aircraft Midnight eVTOL and increase its stake in the U.S. company, the two firms said on Wednesday. Industrial firms and new startups are flocking to invest in air taxis, which can take off and land vertically to ferry travellers to airports or on short trips between cities, allowing them to beat traffic. It is designed for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between. "The goal is for Stellantis to mass produce Archer’s eVTOL aircraft as its exclusive contract manufacturer," the companies said in a joint statement. Stellantis will also increase its existing stake in Archer through stock purchases in the open market.

REUTERS/Kim Hong-JiSEOUL, Jan 3 (Reuters) - South Korea's Hyundai Motor Co (005380.KS) and affiliate Kia Corp (000270.KS) forecast on Tuesday that their combined global sales will jump nearly 10% in 2023, even as last year's sales fell short of target due to supply chain disruptions. The companies sold 6.85 million vehicles in 2022, about 4% less than their combined target of 7.16 million vehicles, largely due to problems including chip and component shortages. They said they would target global sales of 7.52 million vehicles this year. Shares of Hyundai Motor and Kia closed up 1.3% and 1.5% respectively, versus a 0.3% fall in the benchmark market KOSPI (.KS11). In October, Hyundai Motor cut its 2022 global sales target by about 7% to 4.01 million vehicles from 4.32 million vehicles.

☆ Samsung Elec to expand chip production at largest plant next year - media
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +2 min

SEOUL, Dec 26 (Reuters) - Samsung Electronics (005930.KS) plans to increase chip production capacity at its largest semiconductor plant next year, despite forecasts of an economic slowdown, a South Korean newspaper reported late on Sunday. Samsung plans to expand its P3 factory in Pyeongtaek, South Korea, by adding 12-inch wafers capacity for DRAM memory chips, the Seoul Economic Daily reported, citing unnamed industry sources. It will also expand the plant with additional 4-nanometre chip capacity, which will be made under foundry contracts - that is, according to clients' designs - the paper said. P3, which started production of cutting-edge NAND flash memory chips this year, is the company's largest chip manufacturing facility. In October it said it was not considering intentionally cutting chip production, defying the broader industry's tendency to scale back output to meet mid- to long-term demand.

☆ Tesla shares tumble, on track for worst month ever
▼ + stars: | 2022-12-22 | by ( Noel Randewich | ) www.reuters.com time to read: +2 min

Dec 22 (Reuters) - Tesla Inc (TSLA.O) shares are on track for their worst month ever as a sell-off deepened on Thursday over worries about softening demand for electric cars and Chief Executive Elon Musk's distraction with Twitter. Tesla's stock has tumbled 36% so far in December, putting it on track for its worst ever monthly performance. By comparison, Tesla's shares dropped 22% in March 2020, when the coronavirus pandemic tipped financial markets into a tailspin. Musk has also sold almost $40 billion worth of his Tesla shares this year, adding to pressure on the stock as investors worry he could sell more to keep Twitter afloat. Tesla's market cap vs analyst price targetsReporting by Noel Randewich; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

☆ Indonesia considers $320 mln in incentives to boost EV sales in 2023
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +2 min

President Joko Widodo told the same news conference: "We hope with these incentives, the electric motorcycle and electric car industry will grow". Indonesia targets 20% of overall car sales in 2025 to be EVs, Airlangga said. Companies that have invested or have announced planned investments in EV manufacturing in Indonesia include Toyota Motor Corp (7203.T), Mitsubishi Motors Corp (7211.T) and Hyundai Motor Co (005380.KS). SGMW Motor Indonesia, part of a joint venture of SAIC Motor Corp Ltd (600104.SS), General Motors Co (GM.N) and Wuling Motors Holdings (0305.HK), has an EV assembly facility in the Southeast Asian country. Indonesia has also tried to court U.S. firm Tesla (TSLA.O) to invest to produce not just EV batteries but also cars in the country.

The Detroit automaker's average estimated real-world fuel economy and its carbon emissions ranked the second-worst in the industry for the 2021 model-year, according to the EPA. Both automakers decreased their fuel economy and increased C02 emissions since the 2016 model-year, according to the EPA, as did Hyundai Motor , Mazda and Volkswagen . The 2021 average vehicle fuel economy was at an all-time high of 25.4 miles per gallon, unchanged from the year prior. Its average fuel economy, which is measures in terms of miles per gallon of gasoline equivalent, or mpge, was 123.9 miles. Just 4% of 2021 vehicles were electric, plug-in hybrids or fuel cell vehicles, though the EPA projects that figure will rise to 8% in 2022.

☆ Hyundai, SK to build new battery plant in Georgia
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

Dec 8 (Reuters) - Hyundai Motor Group and SK On said Thursday they will build a new battery manufacturing plant in the state of Georgia to supply the Korean automaker's U.S. assembly plants. Hyundai Motor Group and SK On, the lithium-ion battery subsidiary branch of SK Innovation, recently signed a memorandum of understanding (MOU) for a new EV battery manufacturing facility with details of the partnership still in development, the companies said. The companies aim to begin operations in 2025 and said "stakeholders estimate it will create more than 3,500 new jobs through approximately $4-5 billion of investment" in Georgia's Bartow County. Hyundai separately broke ground in October on a $5.54 billion electric vehicle (EV) and battery plant in Georgia's Bryan County. Reporting by David Shepardson; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ How Cho Gue-sung became the breakout thirst trap of the World Cup
▼ + stars: | 2022-12-07 | by ( Soo Youn | ) www.nbcnews.com time to read: +6 min

Cho, 24, was a local celebrity as a player for Jeonbuk Hyundai Motors FC before the World Cup, when he had 20,000 Instagram followers. Cho first generated buzz in his World Cup debut during Korea’s match against Uruguay, which ended in a scoreless tie. South Korea's Cho Gue-sung, center, during the FIFA World Cup match against Ghana in Al Rayyan, Qatar, on Nov. 28. One can point to 2002’s World Cup heartthrob, Ahn Jung Hwan, whose beauty was only celebrated locally in South Korea. “He’s hot, he knows it, and he scored two goals for Korea in the World Cup.

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