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☆ 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

☆ Willo, a recruitment tech startup, just raised funding from Mimecast's former CEO using this 19-slide pitch deck
▼ + stars: | 2024-09-11 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Founded in 2018, Willo provides companies in over 180 countries with technology to conduct and process video interviews for job candidates. This story is available exclusively to Business Insider subscribers. During the COVID-19 pandemic, it pivoted to become a solution for hiring remotely using video technology. The company offers one-way recorded video interviews to help employers get what it describes as unbiased and consistent responses from candidates. "We've grown into a more mature product now, with companies able to interview in many different ways," Euan McCameron, CEO at Willo, told Business Insider.

Persons: —, Willo, Euan McCameron, We're, McCameron, Peter Bauer Organizations: Service, Willo, Prada, Samsung, Toyota, Business Locations: Glasgow, Scotland

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

☆ 4 simple steps to 'make yourself indispensable' at work, says bestselling author: 'It actually works'
▼ + stars: | 2024-09-04 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +6 min

They probably have one thing in common: the ability to consistently come up with great, "non-obvious" ideas, says bestselling author and marketing expert Rohit Bhargava. Reliably devising great ideas that other people haven't considered is easier said than done, of course. "It's more work to come up with something new and original. Here are the four steps you should take to become more creative and reliably come up with great ideas, according to Bhargava. In their book, Bhargava and DuPont advise people to "follow your frustrations" by thinking about the everyday things that annoy them or don't work perfectly.

Persons: Rohit Bhargava, who's, Bhargava, haven't, Bhargava —, Georgetown University —, Ben DuPont, Howard Schultz, Schultz, we're, you've, DuPont, Sakichi Toyoda, Dyson, James Dyson Organizations: Employers, CNBC, Ogilvy, Georgetown University, Toyota, DuPont Locations: Italy

☆ 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

☆ The yen is strengthening, but foreign investors are staying bullish on Japanese equities
▼ + stars: | 2024-08-23 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +6 min

For investors holding Japanese assets denominated in yen, the decline of the currency led to the value of their gains increasing. McManus isn't the only one who increased his exposure into the Japanese market following the early August sell-off. Before the yen started to strengthen, "Japanese investors could benefit because their lives and portfolios are denominated in yen. As a result, an appreciating yen will help overseas investors realize gains from the Japanese market as it continues its rebound. "This suggests that, if the cycle is heading towards [a] period of persistent yen strength, global investors should overweight Japan," Jefferies said.

Persons: —, we're, Janus Henderson, Julian McManus, McManus, Jefferies, Shrikant Kale, Janus Henderson's McManus, Morgan Stanley, Daniel Blake, Peter Perkins, Perkins Organizations: Toyota, Bank of, U.S, Nikkei, Bank of America, Macro Research, Partners, Federal Reserve Locations: Japan

☆ Boeing insists it’s fixing itself. A lot of the folks talking to investigators don’t agree
▼ + stars: | 2024-08-07 | by ( Chris Isidore | Pete Muntean | ) edition.cnn.com time to read: +11 min

The door plug was removed at the Boeing factory in Renton, Washington, last September so that problems with some rivets could be repaired. But the necessary paperwork for that temporary door plug removal was apparently never created. But under questioning from the NTSB Lund admitted that it’s not clear who and when that door plug was put in place. “Are you 100% sure there will never be an unauthorized removal (of a door plug)?” Homendy asked. Asked if he could promise there will not be another door plug improperly installed, Silva answer, “I cannot make a promise or guarantee of that.

Persons: Max, –, Elizabeth Lund, Lund, it’s, Jennifer Homendy, Homendy, “, ” Homendy, ”, Hector Silva, ” Silva, Silva, J, Todd Inman, AeroSystems, Manuel Balce Ceneta, James Phoenix, ” Phoenix, ” Lund, Boeing’s, CNN’s Owen Dahlkamp, Danya Gainor, Celina Tebor, Nicki Brown, Ramishah Maruf, Samantha Delouya Organizations: Washington CNN —, Boeing, National Transportation Safety Board, Alaska Airlines, NTSB, Alaska Air, Boeing Commercial Airplanes, CNN, Federal Aviation, FAA, Federal Aviation Administration, Boeing . Workers, Toyota Locations: Renton , Washington, Alaska, Washington

☆ 'Hot money is saying sayonara': Japan fund manager names outperforming sector to buy amid sell-off
▼ + stars: | 2024-08-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

As Japanese stocks plummet, confirming a bear market, there are opportunities in small-cap and domestic-focused companies, according to fund manager Richard Kaye. 'Yen is just getting normal' Kaye believes the Yen's appreciation is a return to normalcy rather than an anomaly. "If you look even on Friday in all the bloodbath, domestic names, small cap names [were] actually outperforming," he noted. Indeed, the MSCI Japan Small Cap index has fallen 8.6% since July 11, outperforming the 14.4% decline in the MSCI Japan index on a local currency basis. In U.S. dollar terms, the losses, while proportionate, are smaller, with ETFs such as the iShares MSCI Japan Small-Cap ETF falling by 2.1% compared to the iShares MSCI Japan ETF, which is down 8.9% over the same period.

Persons: Richard Kaye, Kaye, Yen, CNBC's, They've, Warren, sayonara, I've Organizations: Growth, Toyota, Sony, U.S ., Japan ETF, Kobe, U.S, Mitsubishi, Mitsui, Sumitomo Locations: Comgest, Japan

☆ Road tripping through Russia: American woman shares challenges of solo trip from Georgia to Mongolia
▼ + stars: | 2024-08-05 | by ( Essay Breanna Wilson | ) edition.cnn.com time to read: +13 min

And I’d be doing it solo, an American female, in a vintage Land Cruiser that was anything but inconspicuous. Planning a 7,000-kilometer road tripRussian visa in hand, it was time to start route planning, make my final vehicle preparations, and pack. With a car my size, bearing Georgian plates, driven by an American who doesn’t speak any Russian, I was increasingly nervous. An American girl, traveling alone, saying she’s moving to Mongolia, driving a car with Georgian plates. I had a summer of overlanding and adventuring across Mongolia, and a new life in Ulaanbaatar, to get underway.

Persons: Breanna Wilson, Andrey Orekhov, Evan Gershkovich, Russia – Organizations: Mongolia CNN, Cruiser, US State Department, Google, Astana, Russia, Toyota Top Motors Locations: Ulaanbaatar, Mongolia, Tbilisi , Georgia, Azerbaijan, Kazakhstan, Russia, Ukraine, American, Russian, Tbilisi, Tbllisi, Georgia, Georgian, Kazbegi, Chechnya, Dagestan, Mariupol, Donetsk, Baku, Alat, Europe, Japan, Kuryk, Altai, Bayan, Ölgii, Astana, Semey, Soviet Union, Russia's, Siberia, –, Tsagaannuur, Mongolia’s, @breannajwilson

☆ Toyota first-quarter profit jumps 17% on weak yen, matches expectations
▼ + stars: | 2024-08-01 | by ( ) www.cnbc.com time to read: +1 min

A Toyota logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. Toyota Motor said on Thursday it posted a 17% rise in first-quarter operating profit, as the Japanese automaker got a boost from cost reduction efforts and a weak yen that helped offset lower sales and production volume at home. The world's top-selling automaker said operating profit for the three months through June totaled 1.3 trillion yen ($8.70 billion), matching the average of six analyst estimates compiled by LSEG. Toyota maintained its forecast of 4.3 trillion yen profit for the full year, versus a 5.3 trillion yen average of 18 analyst estimates. Toyota's share price, which was down 5.5% just before the earnings release, fell further immediately afterward and was down 8.4% at 2,702 yen by 0446 GMT.

Persons: LSEG Organizations: New York, Auto, Toyota, Lexus Locations: Manhattan , New York City, U.S, Japan, China

☆ Toyota U.S. sales fell 5.1% in July
▼ + stars: | 2024-08-01 | 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 EmailToyota U.S. sales fell 5.1% in JulyCNBC's Phil Le Beau joins 'Money Movers' to report the latest auto sale report to cross the tape.

Persons: Phil Le Beau Organizations: Toyota

☆ Jensen Huang just got $12 billion richer in a single day as Nvidia stock soared
▼ + stars: | 2024-08-01 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Jensen Huang's net worth soared $12 billion after a record day for Nvidia stock on Wednesday. Nvidia stock surged 13%, increasing its market value by a record $327 billion. AdvertisementJensen Huang's net worth soared $12 billion on Wednesday after a roaring day for Nvidia's stock. Huang's net worth has risen $59 billion this year amid a 141% year-to-date rally in Nvidia stock. AdvertisementNvidia ended up adding an unprecedented $327 billion to its market value in a single day.

Persons: Jensen, — Organizations: Nvidia, Service, Bloomberg, AMD, Microsoft, Bank of America, Netflix, Toyota Motors, Meta Platforms

☆ Japan orders 'drastic reforms' after new Toyota certification violations
▼ + stars: | 2024-08-01 | by ( ) www.cnbc.com time to read: +1 min

A sign is displayed outside a Toyota Motor Corp. dealership on Jan. 30, 2024 in Tokyo, Japan. The Japanese government ordered Toyota Motor on Wednesday to make "drastic reforms" after discovering new violations in the automaker's vehicle certification procedures. In a so-called corrective order, the transport ministry said on-site inspections had uncovered widespread, intentional misconduct and irregularities in seven additional models that had not been previously disclosed. Toyota said the corrective order instructed it to "make drastic reforms to ensure appropriate certification operations." Toyota and four other vehicle makers admitted in June they had submitted either flawed or manipulated data when applying for certification of vehicles.

Organizations: Toyota Motor Corp, Toyota Motor, Toyota Locations: Tokyo, Japan

☆ Sino Auto Insights discusses Toyota's first-quarter results
▼ + stars: | 2024-08-01 | 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 EmailSino Auto Insights discusses Toyota's first-quarter resultsTu Le, founder and managing director of Sino Auto Insights, says the slowdown in global electric vehicle demand is boosting the company's hybrid sales.

Persons: Le Organizations: Sino

☆ Japan orders ‘drastic reforms’ for Toyota after fresh certification violations
▼ + stars: | 2024-07-31 | by ( ) edition.cnn.com time to read: +2 min

Tokyo Reuters —The Japanese government ordered Toyota Motor on Wednesday to make “drastic reforms” after discovering new violations in the automaker’s vehicle certification procedures. In a so-called corrective order, the Transport Ministry said on-site inspections had uncovered widespread, intentional misconduct and irregularities in seven additional models that had not been previously disclosed. Toyota and four other vehicle makers admitted in June they had submitted either flawed or manipulated data when applying for certification of vehicles. Toyota said it was planning to resume production of these models from the beginning of September after the Transport Ministry confirmed they met compliance requirements. The ministry said six of the seven additional Toyota models with irregularities were also certified in other countries, and it had alerted overseas authorities about the issues.

Persons: Noah, Voxy Organizations: Tokyo Reuters, Toyota Motor, Transport Ministry, Toyota, Corolla Fielder, Corolla, Lexus, Daihatsu, Lexus LM Locations: Tokyo

Kevin Levu faces unpredictable dangers during his nursing shifts, including the risk of being stabbed or beaten. A travel nurse, Levu works at Pelican Bay State Prison, which is home to some of the most violent inmates in California. Being a travel nurse "provides a lot of freedom in my life," he says. Zoom In Icon Arrows pointing outwards Kevin Levu in the army. "Kevin Levu at home.

Persons: Kevin Levu, Levu, Chuck Greenwood, I'm, —, there's, wasn't, nudged, Fort Sam Houston, didn't, Doctors, Kevin, fanny, gurney, he's, they're Organizations: CNBC, Pelican, Fort, Fresno City College, IRA, Netflix, Spotify, Toyota Tacoma Locations: Pelican Bay, California, Brookings , Oregon, U.S, Pelican, Crescent City, Northern California, Levu, Oklahoma, San Antonio , Texas, Kevin, Fresno , California, Placerville , California

☆ Japan Wanted Higher Inflation. It’s Here, and It Hurts.
▼ + stars: | 2024-07-29 | by ( River Akira Davis | ) www.nytimes.com time to read: +1 min

As the rest of the world fought to keep inflation in check, one country welcomed it with open arms. So while major central banks like the U.S. Federal Reserve raised interest rates to rein in prices, the Bank of Japan kept rates low as inflation accelerated. Businesses could cite their rising costs to justify price increases, leading to higher revenues that went toward higher wages for workers. There have been some promising signs: Big Japanese firms like Toyota have reported large profits and pledged the biggest wage increases for workers in decades. In March, the Bank of Japan raised its policy rate for the first time in 17 years, concluding that the economy had achieved the “virtuous cycle” between wages and prices it had envisioned.

Organizations: U.S . Federal Reserve, Bank of, Toyota, Bank of Japan Locations: Japan, Bank of Japan

☆ 14 earnings, jobs and the Fed are what we're watching in the market this week
▼ + stars: | 2024-07-27 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

As for Club earnings, we got positive results from life sciences company Danaher and industrial firm Dover. Ford was a major disappointment and its nearly 20% stock drop for the week was the worst performer in the portfolio. In the week ahead, it's going to be another big week of earnings with the four mega-cap names and 10 other Club names set to report. Linde : We're looking for more of the same — steady earnings growth; 6% is the Street estimate. End market commentary will also help us better formulate our view of the economy — and in turn the stock market.

Persons: Russell, Jerome Powell's, Ford, Stanley Black, Decker, We're, we'll, Elliott, we've, We'll, Kraft Heinz, Vita Coco, COCO, Lam, SIRI, WEN, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: Nasdaq, Dow, Communication, Honeywell, YouTube, Procter & Gamble, Devices, Microsoft, Starbucks, GE Healthcare, DuPont, Meta, Apple, Coterra Energy, Linde, Silo AI, Elliott Management, GE HealthCare, Amazon, Apple Intelligence, U.S, Labor, Fed, Networks, Procter, Gamble, PayPal, Pfizer, BP, JetBlue Airways, Merck, Solar Inc, Caesars Entertainment, Electronic Arts, EA, Nation Entertainment, Boeing, Cruise, Mastercard, Teva Pharmaceutical, Hess Corp, Arm Holdings, Qualcomm, Lam Research, Western, eBay, EBAY, MGM Resorts, MGM, ConocoPhillips, Mobileye, Canada Goose Holdings, Hershey, Toyota, Dominion Energy, Air Products & Chemicals, Southern Company, International, Coterra Energy Intel, Coinbase, Booking Holdings, LIN, Exxon Mobil, Chevron, LyondellBasell Industries, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: Dover, Eaton, Amazon, China, destocking, Corning, New York City

☆ I drove for Uber Eats in between jobs. I wouldn't recommend it to anyone.
▼ + stars: | 2024-07-26 | by ( Elle Hardy | ) www.businessinsider.com time to read: +5 min

Read previewThis as-told-to essay is based on a conversation with Chandler Moncada, a 29-year-old former Uber Eats driver in Phoenix. In May 2023, I got laid off from my full-time job in SEO and started driving for Uber Eats to pay my rent. Related storiesYour car insurance also goes up when you drive for Uber Eats. I focused on delivering in nicer areas, as they usually tip better. I'm no longer driving because I got a new jobDelivering food is very draining and dangerous at times, and there are plenty of stories of Uber Eats drivers getting robbed.

Persons: —, Chandler Moncada, Uber, It's, you've, that's, it's, We're Organizations: Service, Business, Avalon, Progressive, Costco Locations: Phoenix, Paradise Valley, Scottsdale

☆ 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

☆ Lightning Round: Dell is 'absolutley' a buy, says Jim Cramer
▼ + stars: | 2024-07-25 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Dell is 'absolutley' a buy, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Dell, Five Below, Toyota, CrowdStrike, A10 Networks, Dream Finders Homes.

Persons: Dell, Jim Cramer Organizations: Dell, Toyota

☆ Cramer's Lightning Round: Dell is a buy
▼ + stars: | 2024-07-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Dell's year-to-date stock performance. Dell : "[buy, buy, buy!] Stock Chart Icon Stock chart icon Five Below's year-to-date stock performance. Stock Chart Icon Stock chart icon Toyota's year-to-date stock performance. Stock Chart Icon Stock chart icon CrowdStrike's year-to-date stock performance.

Persons: They've, Kurtz, I'm, Jim Cramer's Organizations: Dell, Toyota, Networks Locations: Alto

☆ Asia markets open lower as traders assess Aussie business activity data, U.S. tech earnings
▼ + stars: | 2024-07-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets fell on Wednesday as traders assessed July business activity data from Australia, tech earnings from the U.S. and awaited Japan PMI readings. Late Tuesday, automaker Toyota said it will buyback 806.85 billion yen ($5.17 billion) of its shares from major Japanese banks and insurers, including Tokio Marine , Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group . Heavyweight Samsung Electronics plunged 1.8%, even as Reuters reported that chip giant Nvidia had cleared its chips for use in a processor for the China market. The South Korean electronics company is still grappling with a strike from its largest workers union, with talks on Tuesday yielding no results, according to the National Samsung Electronics Union, which has about 30,000 members. Hong Kong Hang Seng index futures were at 17,474, just marginally higher than the HSI's last close of 17,469.36.

Persons: Topix, Australia's Organizations: Sydney Opera House, Japan PMI, Nikkei, PMI, Toyota, Tokio Marine, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Samsung Electronics, Reuters, Nvidia, National Samsung Electronics Union, Juno Bank . Hong Locations: Asia, Pacific, Australia, U.S, Japan, China, Korean, Juno Bank . Hong Kong

☆ Why Tesla’s big bet on gigacasting has other EV makers reimagining their factories
▼ + stars: | 2024-07-20 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +4 min

Gigacasting is a form of die-casting — pouring materials like molten aluminum into large molds to form parts. For example, the front and rear portions of the early Model 3 chassis each contained more than 70 parts, according to Tesla. Reducing weight ultimately means more range for the customer, and substituting one large megacast for dozens of stamped parts reduces labor and boosts production, he said. Severinson views repair as a solvable challenge: "There is a solution to repairing also a casted rear floor," he said. Burns and Volk say that might be a sign that the company is hitting some technical limits.

Persons: Elon Musk, Shea Burns, AlixPartners, Tesla, Musk, Erik Severinson, Burns, Wolfram Volk, Volk, Lars Moravy Organizations: Toyota, Ford Motor, General Motors, Hyundai, Nissan, Volvo, Technical University of Munich, BMW, Volkswagen Locations: American, Germany

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