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New York CNN —Electric vehicles have 79% more problems than other vehicles, according to Consumer Reports’ latest annual auto reliability survey. The problems arise because electric cars are mostly new models, and recently-introduced car models generally tend to have more issues, regardless of what propels them. Besides that, electric vehicles tend to be higher priced models with more sophisticated technology features, from additional safety sensors to more gadgets and doo-dads. Electric pickup trucks, in particular, tended to fare the worst in Consumer Reports’ reliability survey. Not all electric vehicles are so unreliable, though, according to Consumer Reports’ survey data.
Persons: Jake Fisher, haven’t, , Fisher, that’s, It’s, That’s Organizations: New, New York CNN —, Consumer, EV, Tesla, Ford, Nissan, Hyundai, Toyota, Honda, Kia Locations: New York
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,, 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
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsWASHINGTON, Nov 20 (Reuters) - U.S. auto safety regulators said Monday they had opened a probe into 16 separate recalls issued by Hyundai (005380.KS) and Kia (000270.KS) covering 6.4 million vehicles relating to brake fluid leaks that could result in fires. The automakers said internal brake fluid leaks can cause an electrical short that could lead to a fire. Kia said the Hydraulic Electronic Control Unit (HECU) in the vehicles may experience an electrical short as a result of brake fluid leaks. Hyundai said the Anti-Lock Brake System (ABS) module may leak brake fluid internally and cause an electrical short. The September recall covered 1.73 million Kia Borrego, Cadenza, Forte, Sportage, K900, Optima, Soul Rio, Sorento and Rondo vehicles from various model years for each vehicle from 2010 through 2017.
Persons: Andrew Kelly, Kia, Kia Borrego, Forte, Sportage, David Shepardson, Bernadette Baum, Louise Heavens Organizations: Hyundai Motor, New York, REUTERS, Rights, Hyundai, Kia, Korean, Control, Traffic Safety Administration, Tucson Fuel Cell, Santa Fe Sport, Thomson Locations: Manhattan , New York City, U.S, KS, United States, Santa Fe, Veracruz, Tucson
Drivers must keep track of their condition because driving on old, bald tires is a disaster waiting to happen. And disposing of or recycling millions of old tires around the world is a dirty business in dire need of new solutions. For eco-minded users, Treads promises to recycle all your old tires and donate a percentage of profits to atmospheric carbon removal. SailunLocation: ChinaSailun is not a startup, but an established Chinese tire company. Sailun says the rubber compound in its ERange electric vehicle tires has a lower rolling resistance compared to ordinary tires.
Persons: , James Dyson, It's, Tyromer, Michigan's, TyreFlow, Sailun, Andrew Moseman Organizations: Service, Smart Tire, NASA's Glenn Research Center, Smart Tire Company, NASA, Program, Hyundai, Kia, British, Planet Fund, Imperial College London, University of Waterloo, Discount Locations: Los Angeles , California, London, Ontario, Canada, Plymouth , Michigan, Texas, Park City , Utah, Lancaster, Pennsylvania, U.S, China
(AP) — With LSU star forward Angel Reese missing in action and little explanation forthcoming from coach Kim Mulkey, the seventh-ranked Tigers are attracting unwanted scrutiny at the outset of their national title defense. On Monday, there was no indication that Reese would be back with the team for a home game against Texas Southern. It would be highly unusual for a player to begin missing games because of academic eligibility after the basketball season started but before the end of the first semester of an academic year. No LSU players were made available for postgame interviews. Nicknamed the “Bayou Barbie," Reese led LSU to its first national title in women’s basketball last season.
Persons: Angel Reese, Kim Mulkey, Reese, Grant Kauvar, Mulkey's reticence, Reese —, , Reese's, Flau'Jae Johnson, Kia Brooks, Angel Webb Reese, Brooks, ” Brooks, Mulkey, , , Jeanine Ogbonnaya, Hailey Van Lith, Aneesah Morrow, Mikaylah Williams, LSU hasn't, hasn't, LSU’s, Sylvia Fowles ’, ___ Organizations: , LSU, Tigers, Texas Southern, LSU women's, Southeastern, Kent State, Universities, The Associated Press, Cayman, Southeastern Conference, AP, womens Locations: BATON ROUGE, La, Southeastern Louisiana, Colorado, Virginia
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLOS ANGELES, Nov 17 (Reuters) - Hyundai Motor (005380.KS) and Kia (000270.KS) see strong U.S. demand for electric vehicles (EVs), senior executives at the South Korean automakers told Reuters ahead of the Los Angeles Auto Show. The comments run against industry fears that inflation and higher interest rates will undermine the boom in EV sales. Inflation and high interest rates have raised the costs of buying a car. The cuts helped drive EV sales in the third quarter up 50% from a year earlier to a record of more than 300,000 vehicles. Reporting by Abhirup Roy in Los Angeles; Editing by Peter Henderson and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.
Persons: Andrew Kelly, Jose Munoz, Hyundai's, Munoz, Steven Center, we'll, Elon Musk, Spencer Imel, Langston, Subaru's, Atsushi Osaki, Abhirup Roy, Peter Henderson, Matthew Lewis Organizations: Hyundai Kona, New York, REUTERS, Hyundai, Kia, South Korean, Los Angeles Auto, Tesla, Ford Motor, EV, Kia America, Cox Automotive, General Motors, Ford, Langston Co, Reuters, Thomson Locations: Manhattan , New York City, U.S, KS, Los Angeles, Savannah ( Georgia, United States, Swedish
New Delhi CNN —Hyundai Motor has kicked off construction on a 2 trillion won ($1.5 billion) facility in South Korea that will be dedicated to manufacturing electric vehicles. The group, which owns the Hyundai and Kia brands, held the groundbreaking ceremony on Sunday in Ulsan, where the carmaker built its first assembly plant in 1968. The new factory will be capable of producing 200,000 electric vehicles a year, the company said in a statement. The Korean carmaker’s investment in electric vehicles comes at a time when some of its rivals are taking the foot off the pedal. Meanwhile, Hyundai Motor Group, is also investing $5.5 billion in Georgia to build electric vehicles and battery facilities.
Persons: , Euisun Chung, General Motors Organizations: New, New Delhi CNN — Hyundai, Hyundai, Kia, Ulsan, Hyundai Motor Group, General, Ford Locations: New Delhi, South Korea, Ulsan, Korean, Georgia
ULSAN, South Korea, Nov 13 (Reuters) - Hyundai Motor Co (005380.KS) on Monday broke ground on a 2 trillion won ($1.52 billion) dedicated electric vehicle (EV) plant in South Korea, as the automaker accelerate a shift to electrification. Hyundai Motor Group, which encompasses Hyundai Motor, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. Hyundai Motor Group's Executive Chair Euisun Chung, Hyundai Motor's Chief Executive Officer and other officials, including the Ulsan Metropolitan City Mayor, attended the event to witness the ground breaking of the EV factory, the automaker's first new plant in South Korea in 29 years. The groundbreaking comes after Hyundai Motor said it would stick to its EV rollout plans - a contrast to some rivals that have pulled back on EV production due to cooling demand. Last year, Hyundai Motor Group broke ground on a $5.54 billion EV and battery plants in the U.S. state of Georgia.
Persons: Euisun Chung, Jaehoon Chang, Chang, 1,316.5100, Heekyong Yang, Ed Davies Organizations: Hyundai, Hyundai Motor, Kia Corp, Hyundai Motor Group, Kia, Genesis, Hyundai Motor's, Ulsan Metropolitan City Mayor, EV, General Motors Co, Chevrolet Silverado, GMC, Ford Motor, Tesla Inc, GM, Honda, Thomson Locations: ULSAN, South Korea, Ulsan, U.S ., Georgia, United States, Michigan, Mexico
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
The pandas, accompanied by three zookeepers, will travel to a reserve in China’s mountainous Sichuan province, where an estimated 1,800 pandas are still found in the wild, according to the National Zoo. "It's a moment of joy because this is one more step in 50 years of a successful giant panda conservation program and hopefully the beginning of 50 more years of successful giant panda conservation," she said. Mei Xiang, 25, and Tian Tian, 26, arrived at the National Zoo in 2000. The trio, made famous by the zoo's "Giant Panda Cam" with more than 100 million views, were part of a fading legacy in which giant pandas served as animal ambassadors. Kimberly Blalock, a young visitor at the National Zoo on Tuesday, was among the last to see the pandas on display in Washington.
Persons: Xiang, Tian Tian, Xiao Qi Ji, munch, Brandie Smith, It's, Mei Xiang, Richard Nixon's, Kimberly Blalock, Kevin Fogarty, Kia Johnson, Rich McKay, David Gregorio Our Organizations: Boeing, FedEx Panda Express, Dulles International, National Zoo ., National Zoo, U.S . Pandas, China Wildlife Conservation, U.S, Georgia's Zoo, Thomson Locations: China, Sichuan, U.S, Memphis, San Diego, Georgia's, Georgia's Zoo Atlanta, Washington, Atlanta
SEOUL, Nov 8 (Reuters) - Operations at Kia Corp's (000270.KS) assembly plant in South Korea have been suspended due to disruptions in parts supplies, the carmaker said on Wednesday. Poongki Industrial Co Ltd, a Kia supplier that makes chassis parts, suffered a fatal accident that resulted in the death of one worker on Tuesday and halted its own operations, causing supply disruptions at Kia's plant, a Kia spokesperson said. Labour authorities are investigating the accident, putting a halt to forklift truck operations at the Kia supplier's factory, a labour ministry spokesperson said. Kia is checking on alternative sources for Poongki's components, according to the Kia spokesperson. The plant located in the southwestern city of Gwangju produces about 2,000 vehicles a day, according to media reports.
Persons: Kia Corp's, Poongki, Kia, Lee Jae, Heekyong Yang, Ed Davies Organizations: Kia, Poongki Industrial Co Ltd, Labour, Eugene Investment, Securities, Thomson Locations: SEOUL, South Korea, Gwangju
LOS ANGELES (AP) — It's Sunday night, backstage ahead of the second Los Angeles show of Lauryn Hill and the Fugees' anniversary tour. It will be a few hours yet before Hill opens the concert with a solo set of “The Miseducation of Lauryn Hill,” 25 years after its release. Lauryn Hill & Fugees: Miseducation of Lauryn Hill 25th Anniversary Tour” has dates scheduled through mid-December. Michel, who faces up to 20 years in prison on the top counts, doesn't have a sentencing date yet. She is awarded a plaque for “The Miseducation of Lauryn Hill” receiving diamond RIAA status; quotes from bell hooks appear on the screen behind her.
Persons: , Lauryn Hill, Hill, ” Michel, Leonardo DiCaprio, , Ms, Michel, Peter Zeidenberg, Diddy, hasn't, , Tiffany Haddish, Wyclef Jean’s, Drake’s “, Jean, it’s, they've, Stevie Wonder, Nas, ’ it’s, Lil Wayne, Travis Scott's Organizations: ANGELES, Kia, Buffalo Bills, Cincinnati Bengals, Washington , D.C, , Lakers, Showtime Lakers, SoFi Locations: Angeles, , Washington ,, , Inglewood
Why EV charging is still such a pain
  + stars: | 2023-11-04 | by ( Peter Valdes-Dapena | )   time to read: +8 min
Power show that, despite more and more EV chargers being available, EV owners are actually getting less satisfied with public charging. When it comes to consumer satisfaction, EV charging is in some very poor corporate company. Away from home, charging your EV costs more than charging at home, sometimes twice as much. A ChargePoint electric vehicle (EV) charging station at the Lafontaine Kia dealership in Detroit, Michigan, US, on Thursday, July 13, 2023. Justin Sullivan/Getty Images“Safety is paramount,” said Rick Wilmer, chief operating officer of EV charging provider ChargePoint.
Persons: it’s, “ They’re, , Brent Gruber, Gruber, Bing Guan, There’s, Lafontaine, Matthew Hatcher, Nathan Wang, Wang, Justin Sullivan, Rick Wilmer, Wilmer, What’s, it’s Shell, don’t, Mark Hawkinson Organizations: New, New York CNN, J.D, EV, Department of Energy, CCS, Volvo, Bloomberg, Getty, Lafontaine Kia, UL, Vehicles, Bolt, BP, Exxon Locations: New York, ., United States, California, States, Mississippi, Montana, Detroit , Michigan, Corte Madera , California
Announcements of big buyback programs in the region have been rising since 2021, "with a long runway ahead" given the trend's nascence, the firm's analysts wrote in an Oct. 25 research note. Here are some names from Jefferies' screen of companies that are set to "initiate or continue significant buybacks." Other Asian stocks that made Jefferies' list included Singapore's transport operator ComfortDelGro and Indonesian mining player United Tractors. Australian stocks featured on Jefferies list included gaming content and tech firm Aristocrat Leisure and steel manufacturer BlueScope Steel . Financial companies Jefferies' screen also included financial companies in Asia Pacific that are potentially buying back their shares.
Persons: Jefferies, Baidu, PE Reilly, Thailand's, — CNBC's Michael Bloom Organizations: Jefferies, MSCI, Companies, PE, China United Network Communications, Yunnan Baiyao Group, Energy, Vipshop Holdings, Foxconn Technology, South Korea, Kia, Samsung, LG Corp, United Tractors, BlueScope Steel, Financial, Thai Bank, Chartered Locations: Asia, MSCI Asia, Japan, China, Pacific, Yunnan, South Korea, Australia, South, Asia Pacific, Thai, Philippines
Customers might assume that nonunion automakers, like Toyota, Tesla or Hyundai-Kia, will now be able to price their vehicles well below what the Detroit automakers can. “When the dust settles from this UAW debacle, the Detroit auto stalwarts find themselves with a bigger cost profile with competition increasing," said Dan Ives, an analyst at Wedbush. That means that competition for buyers is intensifying as pent-up demand from the pandemic wanes, making it difficult for any automaker to raise prices. But if the Detroit companies report lower income, Wall Street will register its disappointment, and stock prices could fall. “You either raise your labor costs to meet what the UAW is getting or you risk the unionization drive.”
Persons: Stellantis, , Jonathan Smoke, pare, Dan Ives, Natalie Knight, Ram, Knight, Smoke, Shawn Fain, Fain, Art Wheaton, wouldn’t, Wheaton, Tesla, ” Wheaton Organizations: DETROIT, United Auto Workers, Detroit’s, General Motors, Ford, Toyota, Hyundai, Kia, Detroit, GM, Cox Automotive, UAW, Chrysler, Jeep, Cox, automakers, Detroit automakers, Cornell University, U.S Locations: United States, U.S, Stellantis, Detroit
It would also require the Labor Department to compile a list of companies ineligible for federal contracts based on "serious, repeated, or pervasive violations of child labor laws." The Labor Department said earlier this month that in the 2023 fiscal year, which ended on Sept. 30, 2023, investigations had found close to 5,800 kids illegally employed in the U.S., an 88% increase from 2019. Another bipartisan Senate bill introduced on Thursday by Republican Marco Rubio from Florida, with Democrats Alex Padilla from California and John Hickenlooper from Colorado, and Republican Roger Marshall from Kansas, would require the Labor Department to report more details to lawmakers about the perpetrators and victims involved in child labor cases. A February 2022 Reuters story exposed child labor at Alabama chicken plants, revealing how unaccompanied Central American migrants in debt to human smugglers were working grueling factory shifts. Later, in November, the Labor Department filed a complaint against cleaning company Packers Sanitation Services Inc. (PSSI) for employing dozens of kids cleaning meatpacking plants around the country, some of whom suffered chemical burns and other injuries.
Persons: Cory Booker, Kevin Lamarque, Josh Hawley, Republican Marco Rubio, Alex Padilla, John Hickenlooper, Republican Roger Marshall, Rubio, Dick Durbin, Mica Rosenberg, Joshua Schneyer, Kristina Cooke, Aurora Ellis, Jonathan Oatis Organizations: Capitol, REUTERS, Democratic, Labor Department, U.S . Department of Agriculture, The Labor Department, Republican, Central, Packers Sanitation Services Inc, Hyundai, Kia, Reuters, Democratic Senators, Senate, Thomson Locations: Washington , U.S, United States, U.S, New Jersey, Missouri, Florida, California, Colorado, Kansas, Alabama, Korean, Mexico, Illinois, New York
[1/6] A used KIA EV6 electric car is seen for sale outside the showroom of a used car dealer in Manchester, Britain, October 19, 2023. But that is changing as companies rush to scale up EV battery tests - some of which take just minutes. "If the second-hand car market doesn't work properly, the new car market doesn't work properly and the electric transition won't happen," said Alex Johns, business development manager at Altelium, which says it has received interest from other markets including China. The race to properly value used EVs is becoming urgent because of a looming influx of vehicles. "People just want less risk," when buying a used EV, said Battery Quick Check managing director Katharina Alamo Alonso.
Persons: Phil Noble, EVs, Alex Johns, Marcus Berger, Berger, Tesla, Stephanie Valdez Streaty, Eldar Vagabov, Michael Willvonseder, Willvonseder, Scott Case, Case, Katharina Alamo Alonso, Nick Carey, Paul Lienert, Ben Klayman, Deepa Babington Organizations: REUTERS, EV, Volkswagen, Deutsche, Mobility, Cox Automotive, Wiener, Owners, TUV Rheinland, Thomson Locations: Manchester, Britain, DETROIT, U.S, Altelium, China, Austrian, Germany, Atlanta, Manheim, Europe, Wiener Neustadt, Vienna, Seattle
CNN —Toyota has joined the growing list of automakers that have decided to switch to using Tesla’s charging standard. Beginning in 2025 all Toyota electric vehicles sold in the US will have charging ports designed to work with Tesla’s North American Charging Standard (NACS), rather than the Combined Charging System plugs automakers in the US now use. Toyota’s announcement means that all of America’s best-selling automakers — Toyota ranks second only to General Motors in US sales — have agreed to switch to Tesla’s standard in the next few years. Tesla chief executive Elon Musk announced in November of last year that he was inviting other automakers and charging companies to adopt Tesla’s NACS. Major charging companies have announced they will offer both types of cables to service electric vehicles with either type of charging port.
Persons: Toyota's, NATHAN LEACH, Elon Musk, Ford, Tesla, doesn’t Organizations: CNN, Toyota, — Toyota, General Motors, GM, Benz, Nissan, Honda, Hyundai, Kia, Lexus, EV, CCS, Ford, Chrysler, Fiat, Volkswagen, Mazda, Subaru Locations: EVs, America
The Dodge Charger SRT Hellcat is the most frequently stolen vehicle in the US, a nonprofit says. The nonprofit said it identified the top stolen cars from 2020 to 2022 based on a review of claims per insured vehicle. As you might expect, pricey cars like the Dodge Charger SRT Hellcat, which can cost more than $80,000, topped the list. AdvertisementAdvertisementThieves favor the Dodge Charger SRT Hellcat the most, stealing it about 60 times more frequently than the average car, IIHS said, landing it a relative claim frequency of more than 6,000. Here's the full list of the most stolen vehicles, according to IIHS: (as a reference point, the average relative claim frequency across all vehicles is 100):
Persons: IIHS, Organizations: Dodge, Kia, Hyundai, Service, FBI, Insurance Institute for Highway Safety
TACOMA, Wash. (AP) — No one will face criminal charges following a two-car crash in Tacoma, Washington, that killed six Arizona residents in July, according to Pierce County prosecutors. A seventh occupant — a Phoenix man — survived with serious injuries but had no memory of the crash. Esparza was driving, and the Phoenix man who survived was in the front passenger’s seat. The driver and passenger in the BMW — a 42-year-old Tacoma man and his 40-year-old wife — were uninjured. There was insufficient evidence to prove the BMW driver acted with disregard for the safety of others, according to Deputy Prosecuting Attorney Elizabeth Dasse.
Persons: Alexander, Kia, , Felix Y Begay, Lisa Esparza, Javan Runnels, Calsie Sockyma, Erick Tsosie, Runnels, Sockyma, Tsosie —, Esparza, Elizabeth Dasse Organizations: Patrol, Tacoma News Tribune, BMW, Joseph Medical, Amway, News Tribune, Kia, Phoenix, Tacoma Locations: TACOMA, Tacoma , Washington, Arizona, Pierce, St, Tacoma, Kayenta , Arizona, Phoenix, Tuba City , Arizona, Begay
DETROIT (AP) — Owners of Toyota and Lexus electric vehicles in North America will be able to charge on Tesla's network starting in 2025, and the Japanese automaker also will start using Tesla's EV connector. In a statement Thursday, Toyota says it will adopt Tesla's North American Charging Standard plug in a little over a year. The announcement comes just after Hyundai, Kia and BMW made similar announcements for their electric vehicles. In June SAE International, formerly the Society of Automotive Engineers, said that it would set performance standards for Tesla’s electric vehicle charging cords. Volvo Cars has also signed a deal with Tesla to join its charging network.
Persons: Rivian, Tesla Organizations: DETROIT, Toyota, Lexus, Tesla, EV, Hyundai, Kia, BMW, SAE International, Society of Automotive Engineers, U.S, Ford, General Motors, Volvo Locations: North America, U.S
CVC targets an IPO that would value the company at more than 10 billion euros, the people said, with the company placing around 10% of its share capital, one of the people said. The private equity firm's partners are not expected to sell stock through the IPO, the people said. Blue Owl, CVC, GIC and HKMA declined to comment. On-road payments provider DKV Mobility, in which CVC has a minority holding, decided to defer its IPO plans because of volatile markets, Reuters reported earlier this month. London-headquartered CVC, which oversees more than 160 billion euros in assets, is striving to transform itself into a diversified asset manager.
Persons: de, Singapore's GIC, Renk, DIF, Glendower, Pablo Mayo Cerqueiro, Elisa Martinuzzi, Barbara Lewis Organizations: REUTERS, Partners, Reuters, CVC, Hong Kong Monetary Authority, Kuwait Investment Authority, DKV Mobility, Thomson Locations: Amsterdam, Netherlands, Kuwait, London
That adds to tech-related tensions between the West and China, which is one of Europe’s biggest trading partners and the world’s biggest auto market. Chinese EV makers are drawn to Europe because auto import tariffs are just 10% versus 27.5% in the U.S., independent auto analyst Matthias Schmidt said. MG — owned by SAIC Motor, China’s biggest automaker — is the largest Chinese EV player in Europe. One reason Chinese companies can offer high-quality cars at affordable prices stems from the rules to enter the Chinese market. Chinese EV makers, meanwhile, are trying to stand out in a crowded field.
Persons: Laima Springe, Janssen, , ” Springe, I’m, , Matthias Schmidt, John Kirkwood, , Kirkwood, Warren Buffett, Ursula von der Leyen, Alfa, China’s EVs, Carlos Tavares, we’re, Alexander Klose, ” Klose, Schmidt, Justin Nicholls, Nicholls Organizations: Volvo, Nissan, Skoda, Union, EV, Volkswagen Passat, Kia, MG, SAIC Motor, China’s, , Lotus, Chinese Commerce Ministry, EU, World Trade Organization, Tesla’s, Peugeot, Citroen, Alfa Romeo, Fiat, Global, Wall Motors Locations: Copenhagen, Denmark, Europe, China, West, U.S, British, Western, France, Germany, Beijing, Shenyang, Shanghai, Israel
Infineon Technologies AG logo is seen during German Economy Minister Robert Habeck and Foreign Minister Annalena Baerbock's visit, in Dresden, Germany July 13, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsBERLIN, Oct 18 (Reuters) - German chip manufacturer Infineon (IFXGn.DE) said on Wednesday it has signed a multi-year agreement with Hyundai and Kia to supply power semiconductors for the production of electric cars. Infineon will build and reserve manufacturing capacity to supply silicon carbide and silicon power modules and chips to Hyundai and Kia until 2030, with the two carmakers to support the project with financial contributions, Infineon said in a statement. "This partnership not only empowers Hyundai Motor and Kia to stabilise its semiconductor supply but also positions us to solidify our leadership in the global EV (electric vehicle) market," Heung Soo Kim, Hyundai's Executive Vice President, said in a statement. Reporting by Rachel More, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
Persons: Robert Habeck, Annalena Baerbock's, Annegret, Heung Soo Kim, Rachel More, Louise Heavens Organizations: Infineon, REUTERS, Rights, Hyundai, Kia, Hyundai Motor, Thomson Locations: Dresden, Germany
SEOUL, Oct 12 (Reuters) - Kia Corp (000270.KS) on Thursday unveiled three new small-to-medium sized electric vehicles (EV) to attract a wider range of customers in an effort to expedite its electrification strategies. The production of the EV5 will take place in both China and South Korea, Kia said, adding that the EV5 in China and South Korea would have different battery types. Kia did not disclose the detailed driving range of the EV5 for South Korea, adding that it will be tailored to meet market demands. Analysts said Kia's push to launch more affordable EVs is timely as an increasing number of car buyers are looking to purchase price friendly EVs. "While those early adopters have preferred more expensive premium electric vehicles, as EVs have become more popular among more general public, consumer needs for more affordable EVs have significantly grown," said Lee Jae-il, an analyst at Eugene Investment & Securities.
Persons: Kia, Song Ho Sung, , Spencer Cho, Lee Jae, Heekyong Yang, Sharon Singleton Organizations: Kia Corp, South, Kia, Global, Analysts, Eugene Investment, Securities, Thomson Locations: SEOUL, South Korea, China
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