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☆ Pressure from China does not limit growth ambitions, Hyundai Mobi's Maschka says
▼ + stars: | 2024-10-15 | 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 EmailPressure from China does not limit growth ambitions, Hyundai Mobi's Maschka saysAxel Maschka, executive vice president at Hyundai Mobis, discusses the pressure from China's growing EV industry and his take on European EV tariffs.

Persons: Hyundai Mobi's Maschka, Axel Maschka Organizations: Hyundai, Hyundai Mobis Locations: China

☆ Alibaba, Baidu and more: Jefferies names Asian stocks with significant 'hidden value'
▼ + stars: | 2023-11-23 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Asian stock markets may have had a weak year, but excessive cash in the region's companies is a hidden opportunity for investors, according to Jefferies. Asian ex-cash P/E is just 9.1 times, indicating "significant value," Jefferies' analysts noted. The region's stocks are also "appealing from the shareholder return perspective," given stronger prospects of buybacks backed by free cash flows and high cash balances, they wrote. Jefferies screened for Asian companies with "significant ex-cash value and strong fundamentals," and which it said make "good candidates" for buybacks and dividends. Other Asian stocks that made Jefferies' list include Singapore's transport company ComfortDelGro and Indian oil and gas company Petronet .

Persons: Jefferies, JD.com, iPhones, — CNBC's Michael Bloom Organizations: MSCI HK, Baidu, China Communications Services, Qingdao Port International, Energy, Vipshop Holdings, Technology, Singapore South, Kia, Hyundai, Orion Corp Locations: Asia, Pacific, Japan, China, Qingdao, South Korea, Australia, Singapore, Singapore South Korean

☆ Hyundai Motor Group air taxi unit plans US manufacturing facility
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Nov 8 (Reuters) - Hyundai Motor Group's air taxi unit Supernal plans to build a manufacturing facility in the United States to make flying electric taxis for commuters, the South Korean auto group said on Wednesday. Electric air taxi-makers worldwide have pitched themselves as clean alternatives to decongest cities, attracting investment from airline heavyweights such as Delta Air Lines Inc (DAL.N) though they are still a long way away from commercial operations. Shin said the eVTOL taxi would be capable of flying at 120 mph (193 kph) and have capacity for a pilot and four passengers, targeting December 2024 for a test flight. Hyundai Motor, Kia Corp (000270.KS) and Hyundai Mobis (012330.KS), have together invested 1.2 trillion won ($915.70 million) in Washington-based Supernal since its establishment in 2021, according to regulatory filings. Last month, Hyundai Motor Group signed an agreement with Korean Air Lines (003490.KS) to work together to accelerate the design of electric eVTOL vehicles and air mobility ecosystem in South Korea.

Persons: Shin Jaiwon, Shin, 1,310.4700, Heekyong Yang, Robert Birsel Organizations: Hyundai, South Korean, Supernal, Bloomberg, Electric, Delta Air Lines Inc, Kia Corp, Hyundai Motor Group, Korean Air Lines, Thomson Locations: SEOUL, United States, Las Vegas, Washington, South Korea

☆ Union at Kia Corp suspends strike action to resume talks with company
▼ + stars: | 2023-10-11 | by ( Heekyong Yang | ) www.reuters.com time to read: +2 min

The union and Kia's management had been holding talks for three months over wage increases and an extension of the retirement age. Earlier, the union said it would limit working hours for six working days from Oct. 12 after negotiations stalled, in what would have been the first industrial action at Kia in three years. Kia declined to comment on the industrial action. Last month, the union at South Korea's second largest automaker with more than 26,600 members said 92.3% of its members had approved strike action unless the management accepts their demands. Because the deals with Hyundai Motor and affiliate Hyundai Mobis (012330.KS) were concluded without any industrial action, Kia's unions are likely to avoid any major industrial action, analysts said.

Persons: Kim Hong, Kia Corp's, Lee Jae, Heekyong Yang, Edmund Klamann Organizations: Kia Corp, REUTERS, Rights, Kia, Reuters, South, Hyundai Motor, Hyundai Mobis, Eugene Investment, Securities, Thomson Locations: Seoul, South Korea, Rights SEOUL, KS, South Korea's

☆ Kia Corp's unionised workers to go on partial strike over wages
▼ + stars: | 2023-10-11 | by ( Heekyong Yang | ) www.reuters.com time to read: +2 min

The logo of Kia Corp is seen on its electric vehicle EV6 during a photo opportunity in Seoul, South Korea, June 1, 2021. Last month, the union at South Korea's No.2 automaker with more than 26,600 members said 92.3% of its members had approved strike action unless the management accept the demands. The union said it would work regular hours on days when they are holding talks with the management. Kia declined to comment on the strike. Shares in Kia Corp were trading up 0.7%, versus the benchmark KOSPI's (.KS11) 2.1% rise as of 0217 GMT.

Persons: Kim Hong, Kia Corp's, Kia, Lee Jae, Heekyong Yang, Edmund Klamann Organizations: Kia Corp, REUTERS, Rights, Kia, South, Hyundai Motor, Hyundai Mobis, Eugene Investment, Securities, Thomson Locations: Seoul, South Korea, Rights SEOUL, KS

☆ Hyundai, LG to spend $2 billion more on Georgia battery plant
▼ + stars: | 2023-08-31 | by ( ) edition.cnn.com time to read: +2 min

Hyundai Motor Group and LG Energy Solution will boost their joint investment in a Georgia battery manufacturing plant by $2 billion and add 400 additional jobs, the companies and the state said Thursday. The auto manufacturing plant is scheduled to begin producing vehicles in January 2025 and will build 300,000 vehicles annually. Auto parts maker Hyundai Mobis will assemble battery packs using cells from the plant, then supply them to Hyundai Motor manufacturing facilities in the United States for production of Hyundai, Kia, and Genesis electric vehicles. Last year, Hyundai global chief operating officer Jose Munoz said the Georgia plant could eventually produce 500,000 vehicles annually, if demand warrants. Hyundai Motor in April said it had finalized a separate $5 billion electric vehicle battery joint venture in the US with partner SK On, a battery unit of SK Innovation Co.

Persons: Brian Kemp, Jose Munoz Organizations: Hyundai Motor Group, LG Energy, Hyundai, Hyundai Motor, Kia, Georgia Gov, SK, SK Innovation Co Locations: Georgia, Bryan County , Georgia, United States

☆ India and Indonesia are EV markets with 'strong upside potential,' Hyundai Mobis says
▼ + stars: | 2023-08-24 | 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 EmailIndia and Indonesia are EV markets with 'strong upside potential,' Hyundai Mobis saysAxel Maschka, executive vice president of Hyundai Mobis, discusses the company's electric vehicle push and its international expansion.

Persons: Hyundai Mobis, Axel Maschka Organizations: India, Hyundai Locations: Indonesia

☆ Hyundai to expand the glove compartment in its EVs, redesigning them to resemble airline overhead bins
▼ + stars: | 2023-08-02 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

Now, Hyundai Motor Group is adding another amenity to that list: a bigger and better glove compartment. The newly designed glovebox is modeled on overhead bins in airliners, Hyundai Motor Group said Wednesday. The dashboard invention was the gold medal winner in an internal contest at Hyundai Mobis, the auto parts division of Hyundai Motor. For example, Toyota eschews a glove box entirely in its electric vehicles, the Toyota BZ4X and Lexus RZ 450e. Why it’s called a glove boxToday’s glove box is the direct descendant of storage bins in early automobiles that were usually in the floor or under the seat.

Persons: It’s, it’s, Dorothy Levitt —, —, Dorothy Levitt, De Dion, Horace W, Nicholls, Levitt, “, ” Organizations: CNN —, Hyundai Motor, Hyundai Motor Group, Hyundai, Kia, Hyundai Mobis, Hyundai Motor . Employees, Toyota, Lexus, McGill University Library, Nationwide Insurance

☆ In-car radar could save children from tragic hot car deaths
▼ + stars: | 2023-06-29 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

His two-year-old boy, Thomas, asked to ride in the “big boy seat,” the child safety seat his older brother usually rode in, the one right behind the driver’s seat. Thomas died strapped into his safety seat, as his small body was simply overcome by the heat. Cestia’s truck had a rear seat reminder but, he said, he somehow didn’t notice it when he got to work. He bought his daughter a child safety seat with a heat sensor on the buckle that alerts him if she’s buckled in and it’s getting too hot. And he also listens for the rear seat reminder and habitually checks the backseat.

Persons: Tyler Cestia, Thomas, ” Tyler Cestia, “, ”, David Muscat, Cestia, Rollins, she’s, it’s, “ It’s Organizations: CNN, GMC, Volvo, Hyundai MOBIS, Hyundai Group, Continental, Hyundai Locations: Louisiana, South Korea, Muscat

☆ Hyundai Motor Group, LG Energy to build $4.3 bln EV battery plant in US
▼ + stars: | 2023-05-26 | by ( ) edition.cnn.com time to read: +1 min

South Korea’s Hyundai Motor Group and LG Energy Solution Ltd on Friday said they will build a $4.3 billion electric vehicle (EV) battery plant in the United States amid a push to take advantage of tax credits. Vehicles from Hyundai Motor Co and sister automaker Kia Corp are currently not eligible. Hyundai Motor Group, the world’s third-largest automaker by vehicle sales, is building EV and battery manufacturing facilities in Bryan County in the state, where its joint factory with LGES will be based. LGES and Hyundai Motor Group, which houses Hyundai Motor, Kia and autoparts maker Hyundai Mobis Co Ltd, will each own 50% of the joint venture. In April, Hyundai Motor finalized a $5 billion EV battery joint venture in the United States with SK On, a battery unit of SK Innovation Co Ltd, boosting electrification efforts in its largest market.

Persons: LGES, ”, Youngsoo Kwon Organizations: Hyundai Motor Group, LG Energy, EV, Vehicles, Hyundai Motor Co, Kia Corp, Hyundai, Kia, Hyundai Mobis Co, Tesla, General Motors, Hyundai Motor, SK, SK Innovation Co Locations: United States, Georgia, Bryan County, America

SEOUL, May 26 (Reuters) - South Korea's Hyundai Motor Group and LG Energy Solution Ltd (LGES) (373220.KS) on Friday said they will build a $4.3 billion electric vehicle (EV) battery plant in the United States amid a push to take advantage of tax credits. Vehicles from Hyundai Motor Co (005380.KS) and sister automaker Kia Corp (000270.KS) are currently not eligible. [1/2] The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. LGES and Hyundai Motor Group, which houses Hyundai Motor, Kia and autoparts maker Hyundai Mobis Co Ltd (012330.KS), will each own 50% of the joint venture. In April, Hyundai Motor finalised a $5 billion EV battery joint venture in the United States with SK On, a battery unit of SK Innovation Co Ltd (096770.KS), boosting electrification efforts in its largest market.

☆ 10 Things in Tech: Amazon Slack, industry extinction, and top EVs
▼ + stars: | 2023-04-28 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Community: Inside Amazon's little-known Slack channel. And that's playing out inside an internal slack channel called #focus-and-pivot-info for employees put on performance improvement plans — also known as PIPs. Go behind-the-scenes of Amazon's little-known Slack channel here. Right as tech companies shrink their headcounts, AI is gaining popularity in the workplace, writes Insider's editor in chief for business, Matt Turner. Thousands of anonymous tech employees fretted over the future of tech compensation.

☆ Hyundai Shows Off 'Crab-Driving' Tech in Ioniq 5 Prototype: Video
▼ + stars: | 2023-04-27 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

Hyundai showed off a new technology called e-Corner in a recent video. Hyundai Mobis, the carmaker's parts division, released a new video of a technology it's developing called e-Corner. The clip shows a Hyundai Ioniq 5 electric vehicle pull up directly beside an open parking spot, turn all four wheels perpendicular to the curb, and just scoot right on in. Once again, the Ioniq 5 swivels its wheels outward, but this time the front and rear wheels spin in opposite directions, making the Ioniq 5 spin in place. Later in the video, the Ioniq 5 does a "pivot turn," where the front-right wheel stays in place while the back of the vehicle swings outward.

☆ Hyundai Motor Group to invest $18 bln in South Korean EV industry by 2030
▼ + stars: | 2023-04-11 | by ( Heekyong Yang | ) www.reuters.com time to read: +2 min

SEOUL, April 11 (Reuters) - Hyundai Motor Group said on Tuesday it planned to invest 24 trillion won ($18.14 billion) in South Korea's electric vehicle (EV) industry through 2030, bolstering its presence in a segment that is set to dominate long-term global automotive demand. The investment plan by the group, which includes Hyundai Motor Co (005380.KS), Kia Corp (000270.KS) and Hyundai Mobis Co Ltd (012330.KS), came as President Yoon Suk Yeol attended a groundbreaking ceremony for Kia's first designated electric vehicle plant. It added that the government would expand tax benefits for domestic EV facility investment for a five-fold boost in production capacity by 2030. The South Korean auto group said last year it would invest more than $10 billion in the United States by 2025 to enhance collaboration with U.S. firms in advanced technology. Shares of Kia and Hyundai Motor closed up 4.9% and 3.3%, respectively, on Tuesday versus a rise of 1.4% in the benchmark KOSPI (.KS11) index.

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