The Seoul Bankruptcy Court said Wednesday it has accepted SsangYong Motor Corp.’s request to extend the deadline for its rehabilitation plan by two months until Sept. 1 considering its ongoing sales process. The bankruptcy court in April put the debt-laden automaker under court receivership, a step short of bankruptcy, and ordered it to submit its… Continue reading World NM: Court extends SsangYong’s rehabilitation plan deadline until Sept.001372
Author: World_Newz Mon
World NM: (News Focus) Labor dispute brewing at Hyundai Motor amid EV transition001371
Hyundai Motor Co. is moving toward electric vehicles to join the global automotive trend, but its workers at the leading automaker fret over the prospect of less assembly work and want job security in the changing business environment. The number of components used in EVs is expected to decline by 37 percent compared with internal… Continue reading World NM: (News Focus) Labor dispute brewing at Hyundai Motor amid EV transition001371
World NM: Ssangyong in Last-Ditch Attempt to Find Buyer001367
Ssangyong issued a sale notice on Monday to launch the search for a new owner. U.S. car retailer HAAH Automotive Holdings, which had signaled interest, is now in financial difficulties of its own. Go to Source
World NM: BMW Reportedly Wants to Cut Production Costs by 25% Within the Next Five Years001345
According to BMW board member Milan Nedeljkovic, who’s in charge of production for the Bavarian brand, his company will significantly reduce its production costs by the middle of this decade in an attempt to keep up with rivals such as the VW Group, Daimler, and of course, Tesla. “We will lower the production costs per… Continue reading World NM: BMW Reportedly Wants to Cut Production Costs by 25% Within the Next Five Years001345
World NM: Hanon Systems receives preliminary bids for controlling stake from foreign firms001341
French automotive parts maker Valeo and three other foreign firms have submitted preliminary bids for a controlling stake in automotive thermal management systems and automotive parts maker Hanon Systems, while local players have decided against the move, sources said Tuesday. Valeo, a key rival of Hanon Systems, and German automotive parts maker Mahle have reportedly… Continue reading World NM: Hanon Systems receives preliminary bids for controlling stake from foreign firms001341
World NM: LG stays out of Hanon Systems takeover bid001340
Carlyle, Valeo, Mahle to compete for Korean auto parts supplier By Park Jae-hyuk LG Electronics has decided not to participate in a preliminary bid to acquire a controlling stake in Hanon Systems, citing its excessively high price, an LG official told The Korea Times, Tuesday. Once the sale of Hanon is over, the company will… Continue reading World NM: LG stays out of Hanon Systems takeover bid001340
World NM: (News Focus) Hyundai fuels hydrogen for zero-emission trucks001339
Hyundai Motor Group is on its way toward an all-electric future by adopting a two-track strategy to deliver batteries for both electric and hydrogen fuel cell vehicles, hoping to expand its presence in the growing eco-friendly car market. Since July 2020, the automaker has shipped 46 Xcient trucks to Switzerland and is set to deliver… Continue reading World NM: (News Focus) Hyundai fuels hydrogen for zero-emission trucks001339
World NM: Nissan India exports over 1,200 units of Magnite to Nepal, Indonesia, and South Africa001336
Nissan India today announced that the Nissan Magnite export figure touched 1,220 units by the end of May 2021. Till May 2021-end, Nissan India produced 15,010 units — 13,790 units for the domestic market and 1,220 units for exports — of the Magnite. The customers can choose between 1.0-litre B4D NA-petrol (72PS of maximum power… Continue reading World NM: Nissan India exports over 1,200 units of Magnite to Nepal, Indonesia, and South Africa001336
World NM: Hyundai Motor buys U.S. robotics firm from Softbank for US$ 880 mln001335
Hyundai Motor Group said Monday its three affiliates and its chief have acquired a controlling stake in U.S.-based robotics firm Boston Dynamics, Inc. for US$880 million. In December, the board of directors at the three affiliates — Hyundai Motor Co., Hyundai Mobis Co. and Hyundai Glovis Co. — approved the plan to acquire a combined… Continue reading World NM: Hyundai Motor buys U.S. robotics firm from Softbank for US$ 880 mln001335
World NM: Graphene-based, meringue-like material dampens airplane engine noise001328
Researchers at the University of Bath, in Britain, have developed a new graphene-based material that significantly reduces aircraft engine noise. When scientists tested the new aerogel material’s sound absorption abilities, they successfully reduced the roar of an airplane engine by 16 decibels, making a jumbo jet sound more like a hair dryer. The team plans… Continue reading World NM: Graphene-based, meringue-like material dampens airplane engine noise001328