Author: World_Newz Mon

World NM: UAW Blasts General Motors Over $1 Billion Investment in Mexican Factory001173

Following the Great Auto Bailout, the U.S. Treasury sold GM stock with a $10.5-billion loss for taxpayers. This didn’t rub off well at all with the hard-working men and women of the United States, and neither does the $1 billion investment into the Ramos Arizpe assembly plant in Mexico. 7 photos The facility will be… Continue reading World NM: UAW Blasts General Motors Over $1 Billion Investment in Mexican Factory001173

World NM: Porsche India’s sales grow 52 per cent in Q1 2021, luxury automaker records best quarterly figures in 7 years001167

Porsche India sold 154 new cars during January-March 2021, witnessing a growth of 52 per cent over the year-ago period. This resulted in a rise of 38 per cent in total SUV sales in the first quarter of 2021 in comparison to the first quarter of 2020. The sales of the luxury automobile manufacturer’s two-door… Continue reading World NM: Porsche India’s sales grow 52 per cent in Q1 2021, luxury automaker records best quarterly figures in 7 years001167

World NM: Ford halts engine production at Merseyside factory001145

Ford is shutting down its Merseyside plant for at least a month and slashing shifts at a Dagenham engine factory as the car industry is battered by a global microchip shortage. The US company will temporarily halt production on May 10 at its Halewood factory. Ford sites in Spain, Germany, Romania and Turkey are also cutting… Continue reading World NM: Ford halts engine production at Merseyside factory001145

World NM: Hyundai to Build Future Car R&D Center in Shanghai001117

Hyundai will set up a future car research center in Shanghai in a bid to boost flagging sales in the world’s largest market. The automotive group wants to bolster research and development in China as well as increasing its lineup of electric cars and hydrogen vehicles there. Kia will also launch its first electric car,… Continue reading World NM: Hyundai to Build Future Car R&D Center in Shanghai001117

World NM: Ssangyong Goes Back into Receivership001116

Ssangyong has gone back into court receivership 10 years after the perpetually troubled SUV maker last emerged from hospital thanks to India’s Mahindra. If the court decides to auction off Ssangyong, U.S. car retailer HAAH Automotive Holdings is still expected to be on board. HAAH had promised not to lay off any staff and double… Continue reading World NM: Ssangyong Goes Back into Receivership001116

World NM: SsangYong Motor again under court receivership, creditors aim to find new investor001107

SsangYong Motor Co. was placed under court receivership once again Thursday as its Indian parent Mahindra & Mahindra Ltd. has failed to attract an investor amid the prolonged COVID-19 pandemic and its financial status is further worsening. The Seoul Bankruptcy Court approved the debt-rescheduling process for SsangYong Motor as U.S. vehicle importer HAAH Automotive Holdings… Continue reading World NM: SsangYong Motor again under court receivership, creditors aim to find new investor001107

World NM: Hyundai executives to be investigated for insider trading001103

A dozen executives from South Korea’s Hyundai Motor are under investigation into whether they profiteered from insider information earlier this year. One month later, Hyundai denied a partnership with Apple, causing a slip of more than 6 percent in the Korean bourse. Either the FSC or its enforcement arm, the Financial Supervisory Service, is expected… Continue reading World NM: Hyundai executives to be investigated for insider trading001103

World NM: Hyundai Joins Samsung SDI in Developing Electric Car Batteries001101

Hyundai and Samsung SDI have agreed to develop cutting-edge cylindrical batteries for the automaker’s hybrid cars. It also wants to develop solid-state batteries with Samsung that charge faster than lithium-ion batteries and are also safer and more compact. Samsung SDI will be supplying batteries for an electric pickup truck to U.S. start-up Rivian. Go to… Continue reading World NM: Hyundai Joins Samsung SDI in Developing Electric Car Batteries001101