DIRS.INFO The most relevant business & tech news

☆ Biden proposes banning Chinese technology from ‘connected cars’ on U.S. roads
▼ + stars: | 2024-09-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

WASHINGTON — The U.S. Commerce Department on Monday proposed prohibiting key Chinese software and hardware in connected vehicles on American roads due to national security concerns, a move that would effectively bar Chinese cars and trucks from the U.S. market. The planned regulation, first reported by Reuters, would also force American and other major automakers in years ahead to remove key Chinese software and hardware from vehicles in the United States. President Joe Biden’s administration has raised concerns about data collection by connected Chinese vehicles on U.S. drivers and infrastructure and potential foreign manipulation of vehicles connected to the internet and navigation systems. The proposed prohibitions would prevent testing of self-driving cars on U.S. roads by Chinese automakers and extend to vehicle software and hardware produced by Russia and could be extended to other U.S. adversaries. The group said there is “very little” connected vehicle hardware or software “that enters the U.S. from China.

Persons: WASHINGTON, Joe Biden’s, Jan, Gina Raimondo, We’re, ”, Liz Cannon, Jake Sullivan, ” Sullivan, Lin Jian, Washington “ Organizations: The U.S . Commerce Department, Reuters, White House, The Commerce Department, U.S . Commerce, Commerce Department, Motors, Ford Motor, U.S, The, White, National, Foreign Ministry, Alliance, Automotive Innovation, GM, Toyota, Volkswagen, Hyundai Locations: The U.S, U.S, United States, Russia, China

☆ GM’s EV sales momentum is finally building as new vehicle lineup fills out
▼ + stars: | 2024-09-23 | by ( Michael Wayland | ) www.nbcnews.com time to read: +7 min

While GM has withdrawn most of its previously announced electric vehicle targets, the automaker believes its EV sales momentum is finally building thanks to an expanding lineup of all-electric vehicles — spanning a price range of roughly $35,000 to more than $300,000. GM sold nearly 21,000 EVs in the U.S. in July and August — almost matching its full second-quarter EV sales. GM’s EV sales through August were up about 70% compared with a year earlier. It still remained more than 20,000 units shy of Hyundai/Kia EV sales through last month. Growing EV lineupGrowing EV lineupGM currently offers eight “Ultium-based” EVs for consumers — referring to its electric vehicle architecture and battery technologies.

Persons: WARREN, Mary Barra, Elon Musk’s, ” Rory Harvey, “, ” Harvey, GM’s, Tesla, Harvey, ”, Stephanie Brinley, ” Brinley, EVs, ” “, ‘ Butts, Barra, carmaker Organizations: General Motors, Detroit, U.S, GM, Elon Musk’s carmaker, Hyundai, Kia, Ford, CNBC, Detroit automaker, Motor Intelligence, EV, P, ” Cox Automotive Locations: Mich, North America, U.S, Detroit, Barra, U.K, ”, EVs

☆ Biden proposes banning Chinese vehicles from U.S. roads with software crackdown
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +5 min

The Biden administration has raised serious concerns about the collection of data by Chinese companies on U.S. drivers and infrastructure through connected vehicles as well as about potential foreign manipulation of vehicles connected to the internet and navigation systems. The planned regulation, first reported by Reuters, would also force American and other major automakers in the coming years to remove key Chinese software and hardware from vehicles in the United States. The U.S. Commerce Department on Monday proposed prohibiting key Chinese software and hardware in connected vehicles on American roads due to national security concerns - a move that would effectively bar nearly all Chinese cars from entering the U.S. market. The move is a significant escalation in the United States' ongoing restrictions on Chinese vehicles, software and components. The rules would apply to all on-road vehicles but exclude agricultural or mining vehicles not used on public roads.

Persons: Joe Biden, Biden, Gina Raimondo, Raimondo, We're, Jake Sullivan, Sullivan, Jan Organizations: White, White House, Reuters, U.S . Commerce Department, United, National, Embassy, U.S, The Commerce Department, Alliance, Automotive Innovation, General Motors, Toyota, Hyundai Locations: Rose, Washington ,, United States, U.S, Yantai, Shandong province, Russia, China, Washington

☆ GM's EV sales momentum is finally building as new vehicle lineup fills out
▼ + stars: | 2024-09-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

While GM has withdrawn most of its previously announced electric vehicle targets, the automaker believes its EV sales momentum is finally building thanks to an expanding lineup of all-electric vehicles – spanning a price range of roughly $35,000 to more than $300,000. EV sales data provided to CNBC by the Detroit automaker, which publicly reports sales quarterly, shows a notable increase for GM through August. GM sold nearly 21,000 EVs in the U.S. in July and August – almost matching its full second-quarter EV sales. GM's EV sales through August were up about 70% compared with a year earlier. It still remained more than 20,000 units shy of Hyundai/Kia EV sales through last month.

Persons: Mary Barra, Frederic J, Brown, Elon Musk's, Rory Harvey, Harvey, GM's, Tesla, Stephanie Brinley, Michael Wayland, Brinley, EVs, Scott Mlyn, Butts, Barra, carmaker Organizations: Cadillac, AFP, Getty, WARREN, General Motors, Detroit, U.S, GM, Elon Musk's carmaker, Hyundai, Kia, Ford, CNBC, Detroit automaker, Motor Intelligence, EV, P, Cox, Electric Locations: Los Angeles, Mich, North America, U.S, Detroit, Barra, U.K

Meanwhile, Morgan Stanley raised its price target on Constellation Energy to $313m implying more than 20% upside. 7 a.m.: DA Davidson downgrades Microsoft, cites diminishing AI lead DA Davidson believes that Microsoft has lost its edge over competitors in artificial intelligence. The investment firm downgraded shares of the tech giant to neutral from buy, although analyst Gil Luria maintained his $475 price target. This could begin to have a material impact on the company's returns beginning in 2025, the analyst wrote. Wells Fargo analyst Neil Kalton also hiked his price target on the stock to $300, implying nearly 18% upside ahead.

Persons: Raymond James, Morgan Stanley, Bernstein, DA Davidson, Davidson, Gil Luria, Luria, GitHub Copilot, — Lisa Kailai Han, Daniel Roeska, Roeska, Lisa Kailai Han, Ronald Josey, Josey, Meta, Atif Malik, Malik, Raymond James downgrades, Brian Gesuale, Gesuale, David Arcaro, Arcaro, Wells, Neil Kalton, — Fred Imbert Organizations: CNBC, Constellation Energy, Motors, Microsoft, DA, Nvidia, Motors General Motors, General Motors, Hyundai, Citi Locations: Palantir, Friday's, U.S, 25e, GenAI

☆ South Korea is going big on American manufacturing. The Battery Belt could benefit the most.
▼ + stars: | 2024-09-23 | by ( John Towfighi | ) www.businessinsider.com time to read: +7 min

Read previewSouth Korean companies are investing billions of dollars in the US to take advantage of two big laws meant to boost American manufacturing. A Financial Times analysis of United Nations data found South Korean companies invested $21.5 billion in US projects in 2023, more than any other country. Related storiesAnd South Korean investments span multiple states, mainly in the South. In the past decade, South Korean companies have created about 7,000 jobs in Texas and nearly 8,000 jobs in Indiana. Those provisions have incentivized South Korean companies to divert from China and focus more on the US.

Persons: —, Yeo, South, Biden, South Korea —, " Yeo, Joe Biden's Organizations: Service, United, Business, Samsung, LG, Hyundai, South, Peterson Institute for International Economics, EV, Financial, Kia, SK Hynix, Korea's Ministry of Trade, Industry, Energy, Wall Street, World Bank, Biden Locations: United Nations, South Korea, Taiwan, Southern, China, US, Georgia, South, Texas, Arizona, Indiana, Korea's

☆ China-Mexico freight traffic surges in Trump, Biden tariff era, as companies find ways to evade U.S. trade war
▼ + stars: | 2024-09-20 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +16 min

Patrick T. Fallon | AFP | Getty ImagesNew data shows a surge in trade between China and Mexico at a time of tough tariff talk during the presidential campaign. This nearshoring of manufacturing enables companies to change a product's origin of goods, also referred to as the "economic nationality" of a product. Data from freight analytics firm Xeneta shows China to Mexico container trade up by 26.2% from January to July 2024, after growing by 33% in 2023. Mexico is also a member of the Pacific Alliance, a trade bloc formed by Mexico, Chile, Colombia, and Peru. "Bilateral tariffs should be expected to lead to trade diversion, and that's exactly what happened in the aftermath of the trade war.

Persons: Patrick T, Fallon, Jordan Dethwart, Mary Lovely, Anthony Solomon, Simon Cohen, Peter Sand, Donald Trump, Trump, John Piatek, Biden, Piatek, Lovely, Moody's, Elon Musk, Musk, Tesla, Sand, Charles Van der Steene, Van der, Mexico —, Freightos, Erica York, York, Tim Robertson, Ian Arroyo, Arroyo, Saul Loeb Organizations: El, El Paso Sector, AFP, Getty, U.S, Companies, Peterson Institute for International Economics, Henco Logistics, European Union, European Free Trade Area, Pacific Partnership, Pacific Alliance, GEP, Motive, BMW, Ford, GM, Kia, gigafactory, Volvo, Pirelli, Michelin North America, Hyundai, SFK USA, Maersk, Bureau of Transportation Statistics, CNBC, United, Pacific, Port, U.S ., ITS Logistics, Tax, DHL Global, Dana, Afp Locations: El Paso, Mexico, New Mexico, Chihuahua, Sunland Park , New Mexico, China, Redwood Mexico, United States, Canada, U.S, Japan, Israel, Latin America, Chile, Colombia, Peru, USA, propping, Laredo , Texas, El Paso , Houston, San Diego, Monterrey, Fremont , California, Austin , Texas, Americas, Mexican, Monterrey . Mexico, East, lading, Maersk North America, Tijuana, El Paso , Texas, Pacific Coast Port, Lazaro, Laredo, Monterrey , California, U.S . West, U.S . East, Gulf, West Coast, Asia, Mexico City, Warren , Michigan

☆ Georgia is rich in EV money and jobs
▼ + stars: | 2024-09-18 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Since 2022, the Peach State has added over 30,000 clean energy jobs, more than any other state, according to a June study by Climate Power, a strategic communications firm. The Bipartisan Infrastructure Law allocated over $175 million toward the EV battery supply chain in Georgia and $135 million over five years toward infrastructure for EV charging stations in Georgia. Investments in EV and battery manufacturing will boost job growth and output in both of these sectors, Benson said. Strong population growth remains a tailwind for Georgia's economic growth and EV industry, Benson said. Between 2021 and 2022, there were 327,795 people who moved into Georgia, according to data from the Census Bureau.

Persons: —, Wells, Jackie Benson, Brian Kemp, It's, Biden, Benson Organizations: Service, Business, Peach State, Climate Power, Investments, Atlanta -, EV, Atlas Public, Environmental Defense Fund, Biden Administration, Law, Infrastructure Law, Hyundai, Kia, The Peach State Locations: Georgia, Wells, Atlanta, Georgia , Alabama, North Carolina, South Carolina, Tennessee, Michigan, West Point , Georgia, Wells Fargo, Florida , Texas , California, California, Texas

☆ I'm running out of things to say about Elon Musk and his terrible tweets
▼ + stars: | 2024-09-16 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Read previewDid Elon Musk just tweet something terrible on Twitter? Did Elon Musk then realize it was so terrible — even by his standards — that he needed to delete that tweet? "Elon Musk says he's learned a lesson," as my colleagues at Business Insider put it. But, as always, it doesn't matter who Elon Musk has working on his Twitter ads business as long as Elon Musk keeps tweeting. AdvertisementAlso: A reminder that in addition to owning Twitter and using it to tweet terrible things, Elon Musk is the world's richest man and has enormous power.

Persons: —, Elon Musk, hadn't, Joe Biden, Kamala Harris, Tucker Carlson, Hitler, Musk, you've, Elon, he's, He's, it's, Angela Zepeda, Linda Yaccarino, José Garza Organizations: Service, Business, Twitter, Hyundai, Elon Locations: Travis County , Texas, Travis County

☆ India’s EV conundrum: To invest in cars or charging points first
▼ + stars: | 2024-09-13 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

A little over two years after the switch, Fernandes regrets her decision: "I'll never ever buy an electric vehicle again." "A 4India’s EV conundrum: To invest in cars or charging points first0% charge should easily take me for another 40km, but it dropped to 0% within 5km," Fernandes said. In India, "Range anxiety" remains a significant hurdle preventing drivers from making the transition from internal combustion engine to EV cars, analysts said. "Charging infrastructure in India's electric vehicle market is still not fully developed, but companies want more vehicles on the road before they invest more. As of August 2023, Tata Motors dominated 72% of India's EV market, followed by MG Motors with with a 10.8% share.

Persons: Carmelita Fernandes, Fernandes, Brajesh Chhibber, Chhibber Organizations: Tata Nixon, CNBC, Bain & Company, McKinsey India, Tata Motors, MG Motors, Mahindra & Mahindra, Citroen, Hyundai, Kia Locations: Indian, Pune, India, Bombay, Maharashtra, Mumbai, Goa, Canalys

☆ I drove the Hyundai Palisade and Subaru Ascent — here's which SUV I'd buy for my family
▼ + stars: | 2024-09-12 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +1 min

I recently drove the Hyundai Palisade Calligraphy and Subaru Ascent Touring family SUVs. The Palisade wins for its true luxury experience, smooth V6 power, and great cabin tech. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I recently had the chance to drive two of the most popular offerings to hit the market in recent years, the Hyundai Palisade and the Subaru Ascent, to see how they stack up against one another.

Persons: —, they've Organizations: Hyundai, Calligraphy, Palisade, Service, Subaru, Business

☆ South Korea’s Hyundai and US’ GM to work together on developing new cars
▼ + stars: | 2024-09-12 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Hyundai and General Motors (GM) have agreed to look for ways to work together on developing new vehicles, supply chains and technologies in an effort to cut costs and move more quickly. Global carmakers are under intense pressure to come up with new electric vehicle (EV) and battery technology because they face vehicle emissions regulations around the world. South Korea’s Hyundai and America’s GM (GM) said on Thursday they would collaborate on joint product development, manufacturing and future clean energy technologies. The non-binding framework agreement was signed by Hyundai Motor Executive Chair Euisun Chung and GM Chair and CEO Mary Barra. Including its affiliate Kia, Hyundai Motor is the world’s third-largest automaker by sales, according to Reuters, while GM is currently America’s largest carmaker, having retaken that title from Toyota in 2022.

Persons: Hong Kong CNN —, They’re, Euisun Chung, Mary Barra, “, ” Barra, ” Chung, Cruise Organizations: Hong Kong CNN, Hong Kong CNN — Hyundai, General Motors, Global, EV, Korea’s Hyundai, America’s GM, Hyundai Motor, Kia, Hyundai, Reuters, GM, Toyota, Nissan, Renault, Honda, — Locations: Hong Kong, Japan

☆ GM and Hyundai agree to explore collaboration on vehicles and manufacturing to reduce capital spending
▼ + stars: | 2024-09-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Mary Barra, chair and CEO of General Motors, and Euisun Chung, executive chair of Hyundai Motor Group, during the signing of an agreement between the two companies to explore future collaboration across key strategic areas. DETROIT — General Motors and Hyundai Motor have entered into an agreement to explore "future collaboration across key strategic areas" in an effort to reduce capital spending and increase efficiencies, the companies announced Thursday. The automakers' potential areas of interest include co-development and production of passenger and commercial vehicles, internal combustion engines, and clean-energy, electric and hydrogen technologies, they said in a joint press release. The automakers also said they will "review opportunities for combined sourcing in areas such as battery raw materials, steel and other areas." The framework agreement was signed by Hyundai Motor Group Executive Chair Euisun Chung and GM Chair and CEO Mary Barra, the companies said.

Persons: Mary Barra, Euisun Chung Organizations: General Motors, Hyundai Motor, DETROIT —, Motors, Hyundai, Hyundai Motor Group Locations: DETROIT

☆ Portfolio manager picks TSMC and Hyundai as preferred value stocks in Asia
▼ + stars: | 2024-09-11 | 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 EmailPortfolio manager picks TSMC and Hyundai as preferred value stocks in AsiaPhillip Wool of Rayliant Global Advisors shares his investment calls in Asia.

Persons: TSMC, Asia Phillip Wool Organizations: Hyundai, Rayliant Global Advisors Locations: Asia

GM declined to discuss details of the spending, including how much of that amount is specifically tied to NFL advertising, but reiterated it remains significantly lower than historic levels. “The impact of the NFL on the automotive advertising industry is really very, very substantial,” said Alberto Leyes, head of product strategy at Guideline. Guideline reports viewership of NFL broadcasts grew about 7% over the past season, whereas ad spend in NFL programming doubled that pace at 14%. Automotive ad spend increased 17% over the past two seasons and is expected to increase again this year, according to Leyes. Stellantis is expected to soon launch new ads for the NFL season, including around its Jeep brand, but a spokeswoman declined to provide additional details.

Persons: ”, Ryan Briganti, Alberto Leyes, “ We’ve, we’ve, ” Leyes, Andrew Messina, Messina, Mark Marshall, Jenny Wall, Dedra DeLilli, That’s, ” DeLilli, “, DeLilli, Stellantis, Randy Parker, NBCUniversal Organizations: National Football League, Toyota Motor Corporation, Hyundai Motor Company, Detroit, NFL, Toyota, CBS Sports, CBS, Paramount, General Motors, GM, Nielsen, Disney, ESPN, Disney Advertising, Hyundai, Mercedes, Benz, Nissan Motor, Chrysler, Brands, Sunday, NBC, Automotive, Toyota North, Olympics, Hyundai Motor America, CNBC, Comcast, NBC Sports, NBC Olympics, Games Locations: Messina, U.S, Toyota North America, Paris

GM declined to discuss details of the spending, including how much of that amount is specifically tied to NFL advertising, but reiterated it remains significantly lower than historic levels. Last NFL season, automakers were the most-seen brand industry, with more than 10% of TV ad impressions, according to ad data company iSpot. Guideline reports viewership of NFL broadcasts grew about 7% over the past season, whereas ad spend in NFL programming doubled that pace at 14%. Automotive ad spend increased 17% over the past two seasons and is expected to increase again this year, according to Leyes. New ad campaignsToyota, as the "Official Automotive Partner of the NFL," launched a new ad campaign for the NFL season this week called "Roll Deep."

Persons: Ryan Briganti, Alberto Leyes, we've, Leyes, Andrew Messina, Messina, Mark Marshall, Jenny Wall Organizations: NFL, National Football League, Toyota Motor Corporation, Hyundai Motor Company, Detroit, Toyota, CBS Sports, CBS, Paramount, General Motors, GM, Nielsen, Disney, ESPN, Disney Advertising, Hyundai, Mercedes, Benz, Nissan Motor, Chrysler, Brands, NBC, Automotive, Baltimore Ravens, Kansas City Chiefs Locations: Messina, U.S

☆ Glory days for automakers like Ford, General Motors in China are over
▼ + stars: | 2024-09-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

London CNN —Foreign automakers have dominated China’s car market for decades, selling millions of vehicles and raking in enormous profits. Ford (F) and General Motors (GM) are also among firms seeing sales and market share vanish in China as local consumers spurn overseas brands to buy Chinese instead. The American automaker’s sales in China have halved from a peak of above 4 million in 2017 to 2.1 million last year. Last year, BYD sold a record 3.02 million vehicles globally, including plug-in hybrids, up 62% from 2022. Months later, Stellantis (STLA), which makes Citroen, Fiat, and Peugeot cars, bought a 20% stake in Chinese EV maker Leapmotor for about €1.5 billion ($1.7 billion).

Persons: Arno Antlitz, GM’s, Mary Barra, ”, Michael Dunne, Dunne, Xi Jinping’s, Tesla, Yilei Sun, Reuters Tesla, Li, Tu Le, Le, BYD, ” Dunne, Raul Bravo, Stellantis, “ Organizations: London CNN — Foreign, Volkswagen, Wolfsburg, Toyota, General Motors, China Passenger Car Association, Foreign, Japan’s Mitsubishi Motors, Honda, Hyundai, Ford, GM, EV, Tesla, Yilei, Reuters, International Energy Agency, “, CNN, Visitors, Automotive, Xinhua, Shutterstock, Auto, “ Global, UBS, Port, Citroen, Fiat, Peugeot, Leapmotor, Hedin Locations: China, London, Germany, Europe, American, Shanghai, Tesla's Shanghai, Beijing, EVs, Japan, North America, San Antonio, Chile, Chilean, AFP, Xpeng, Thailand, Hungary

☆ It's a good time to get a deal on an EV as they sit around on dealer lots
▼ + stars: | 2024-08-24 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

This has helped cut the average price paid in July for a new EV to $58,619, which is 1% lower year-over-year, according to Edmunds. That's actually $4,366 cheaper than the average price paid in July for a new plug-in hybrid. Demand for hybrids is growing among a more practical group of green car shoppers who aren't ready to make the switch to a fully electric car. The average price paid for an EV still outpaces the average price paid for any new car by about $10,000. Car companies are leaning into this loophole with attractive EV leasing deals.

Persons: —, That's, Jessica Caldwell, Edmunds, Caldwell Organizations: Service, Business, Cox Automotive, EVs, Hyundai, Dealers Locations: Edmunds, That's

☆ Thieves are still targeting Hyundai and Kia cars but new software is stopping them
▼ + stars: | 2024-08-07 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

The cars in question are certain older Hyundai and Kia models made before 2023 that are particularly vulnerable to theft. So far, more than 2 million Hyundai and Kia vehicles have gotten the update, according to the automakers. By now, around 61% of eligible Hyundai vehicles have the software upgrade, a Hyundai spokesperson said. That said, not all of the vulnerable Hyundai and Kia models have the proper hardware to enable the software upgrade. For those vehicles that can’t get the software, Hyundai and Kia have been providing steering wheel locks.

Persons: ” Matt Moore, Kia —, South Korea —, Moore, Tok, ”, “ Organizations: CNN, Hyundai, Kia, Data Locations: South Korea

☆ EV charging company moves to clamp down on charger hogs
▼ + stars: | 2024-08-04 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

EV fast chargers – the big tall units that look like major appliances – aren’t generally designed to completely fill an EV’s batteries. A line of EVs wait to charge at Electrify America chargers in East Brunswick, New Jersey, on July 6. At 10 of the busiest EV fast charging stations in California, Electrify America has enacted a strict limit. There can also be other legitimate reasons a driver may want to charge to 100% at a fast charger, said Barrosa. Cases like these are why Electrify America probably won’t institute an overall charging cap at charging stations near major highways, he said.

Persons: Peter Valdes, unplug, Tesla’s, ”, Sara Rafalson, we’ve, Robert Barrosa, ’ ”, EVgo, EVgo’s Rafalson, Barrosa, let’s Organizations: CNN, Chevrolet Blazer, EV, Mercedes, Benz, Hyundai, Fiat, Mazda Locations: New York City, Bristol , Pennsylvania, Bristol, East Brunswick , New Jersey, EVs, America, California, America’s

☆ SoftBank-backed Ola Electric aims to raise $734 million in India's biggest IPO this year
▼ + stars: | 2024-07-29 | by ( ) www.cnbc.com time to read: +3 min

The new Ola electric scooters displayed during its launch at the Ola headquarters in Bangalore on August 15, 2021. With e-scooter prices starting at around $900, Ola Electric has become the biggest player in a country where adoption of clean vehicles is still low, but rising rapidly. In the IPO, Ola will issue new shares to raise $657 million while existing investors offload their stake of about $77 million to IPO investors, the term sheet showed. Aggarwal and investors such as SoftBank and Matrix Partners will sell part of their stakes in the IPO. Monday's newspaper ad showed 10% of the IPO will be reserved for retail investors, with proceeds going to fund capital expenditure and research and development efforts.

Persons: Manjunath Kiran, MANJUNATH KIRAN, Ola Electric, Narendra Modi's, Tesla, Ola, Bhavish Aggarwal Organizations: Ola, Getty, Tata Motors, TVS, Hyundai, West, Temasek, Fidelity, Nomura, Norges Bank, Reuters, Financial Express, Matrix Partners Locations: Bangalore, India

☆ I drove a $71,000 Genesis GV60 electric SUV. It's a luxurious delight that I wished had more range
▼ + stars: | 2024-07-28 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +1 min

The Genesis GV60 Performance is a compact luxury electric SUV that debuted in 2023. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGiven the popularity of compact luxury SUVs, it was inevitable that the segment would also blossom in the EV space. One of the latest entrants to the segment is the GV60, Hyundai's growing Genesis luxury brand. The Genesis GV60 debuted in 2023 and carries over unchanged for 2024.

Persons: —, Hyundai's Organizations: Service, Tesla, Mercedes, Benz

☆ Automakers Sold Driver Data for Pennies, Senators Say
▼ + stars: | 2024-07-26 | by ( Kashmir Hill | ) www.nytimes.com time to read: +1 min

If you drive a car made by General Motors and it has an internet connection, your car’s movements and exact location are being collected and shared anonymously with a data broker. This practice, disclosed in a letter sent by Senators Ron Wyden of Oregon and Edward J. Markey of Massachusetts to the Federal Trade Commission on Friday, is yet another way in which automakers are tracking drivers, often without their knowledge. Previous reporting in The New York Times, which the letter cited, revealed how automakers including G.M., Honda and Hyundai collected information about drivers’ behavior, such as how often they slammed on the brakes, accelerated rapidly and exceeded the speed limit. It was then sold to the insurance industry, which used it to help gauge individual drivers’ riskiness. The two Democratic senators, both known for privacy advocacy, zeroed in on G.M., Honda and Hyundai because all three had made deals, The Times reported, with Verisk, an analytics company that sold the data to insurers.

Persons: Ron Wyden, Edward J, Markey Organizations: General Motors, Oregon, Massachusetts, Federal Trade Commission, The New York Times, Honda, Hyundai, Democratic, The Times Locations: G.M

☆ Toyota will put new engines into 100,000 Tundra trucks and Lexus SUVs
▼ + stars: | 2024-07-26 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +1 min

CNN —In early June, Toyota announced the recall of nearly 100,000 Tundra pickups and about 3,500 Lexus luxury SUVs to fix a problem that could cause their engines to lose power while driving. The solution, it now says, is simply to replace the entire engine on each one of the 103,500 big trucks and SUVs. The vehicles involved are 2022 and 2023 model year Toyota Tundras and Lexus LX 600s. It is unusual, but not unheard of, for an auto manufacturer to have to replace engines in a recall. Last year, Honda recalled 250,000 vehicles for a problem that could, in some cases, result in engines having to be replaced.

Persons: Max, Honda Organizations: CNN, Toyota, Lexus, Hyundai

☆ Hyundai Motor posts record Q2 profit on strong U.S. sales, to boost hybrid lineups
▼ + stars: | 2024-07-26 | by ( ) www.cnbc.com time to read: +1 min

Hyundai Motor reported record quarterly profit and revenue on Thursday on strong sales of high-margin cars and said it would expand hybrid lineups to brace for possible changes in U.S. electric vehicle policies following the election. But Hyundai also warned of an uncertain outlook due to intensifying price competition as inflation and high interest rates squeeze consumers. Hyundai reported a net profit of 4 trillion won ($2.9 billion) for the April-June period, up 23% from a year earlier and easily beating the 3.4 trillion won average of 21 analyst estimates compiled by LSEG SmartEstimate. The net profit was its highest quarterly since the previous record high set in the Q2 2022. Domestic vehicle sales in South Korea, Hyundai's second-biggest market, slumped 10% in the second quarter, extending from a 16% drop in the previous quarter, as consumers continue to grapple with surging inflation and a weak economy.

Persons: LSEG SmartEstimate, Hyundai's Organizations: Hyundai, New York, Hyundai Motor, Ford, Nissan, Tesla, Kia Corp Locations: U.S, South Korea

Search resuls for: "Hyundai"

25 mentions found