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
Author: World_Newz Mon
World NM: Jaguar Land Rover closing 2 plants in Britain due to chip shortage001139
Jaguar Land Rover said Thursday it will shut down production for a week at its two main plants in Britain due to a global supply shortage of semiconductor chips. Go to Source
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
World NM: SK hynix has no plan to retrieve investment in Kioxia: CEO001076
In 2017, SK hynix joined a global consortium to invest in Kioxia, then known as Toshiba Memory Corp., and injected about 4 trillion won (US$3.5 billion). Western Digital was the No. 3 player followed by SK hynix and Micron. Last October, SK hynix signed a deal to buy Intel’s non-memory unit for $9 billion. Go… Continue reading World NM: SK hynix has no plan to retrieve investment in Kioxia: CEO001076
World NM: Vucevic: Japan’s Nidec Corp has opened office in Novi Sad001073
The Japanese giant Nidec Corp, which will invest 2 bln euros in Serbia and launch production at the end of next year, has opened an office in Novi Sad, the city’s Mayor Milos Vucevic announced on his Instagram account. Go to Source
World NM: Stellantis, maker of Dodge and Maserati, scouting Israeli startups for tech edge001072
The Israel Innovation Authority, in charge of fostering the nation’s tech ecosystem, has signed an agreement with an Italian unit of multinational automaker Stellantis NV to cooperate in technological innovation that will help grow Israeli firms and boost the firm’s tech prowess. The agreement is part of the Israel Innovation Authority’s R&D and Pilot Collaboration… Continue reading World NM: Stellantis, maker of Dodge and Maserati, scouting Israeli startups for tech edge001072