Hyundai Motor Group, South Korea’s top automaker, will accelerate its drive to morph into a future mobility solutions provider this year to better compete with rivals, the group’s chief said Monday. To strengthen its presence in the eco-friendly vehicle market, the group’s main affiliate Hyundai Motor Co. plans to launch the IONIQ 5, the first… Continue reading World NM: Hyundai chief sets 2021 as ‘turning point’ for expansion000690
Author: World_Newz Mon
World NM: Mahindra in talks to sell Ssangyong stake as it reprioritises investments amid Covid impact000680
Mahindra & Mahindra Ltd. is in discussions with an investor for selling a majority stake in Ssangyong Motor Co. as India’s largest SUV maker reassesses its investments amid the pandemic. Mahindra also pulled out of a proposed joint venture with Ford Motor Co. in India as the capital requirements didn’t make sense at a time… Continue reading World NM: Mahindra in talks to sell Ssangyong stake as it reprioritises investments amid Covid impact000680
World NM: BMW’s Chinese Partner Cancels Hong Kong Share Pledge Amid Debt-Dodging Complaints000671
The parent of BMW AG’s main Chinese joint-venture partner has canceled a plan to pledge shares in a Hong Kong-listed subsidiary for loans amid accusations that the state-owned automaker was deliberately failing to pay its debts. Liaoning Xinrui Automotive Industry Development Co. Ltd., a wholly owned subsidiary of Brilliance Auto Group Holdings Co. Ltd., has… Continue reading World NM: BMW’s Chinese Partner Cancels Hong Kong Share Pledge Amid Debt-Dodging Complaints000671
World NM: Honda will stop supplying cars to Russia in 2022000668
MOSCOW, December 30. /TASS/. Honda’s Russian subsidiary, Honda Motor Rus, will stop delivering new cars to Russia during 2022, the company said on Wednesday. Honda Motor Rus, subsidiary of Honda Motor Co., announced termination of deliveries of new cars to authorized dealers in Russia during 2022, the company said. According to the statement, the decision… Continue reading World NM: Honda will stop supplying cars to Russia in 2022000668
World NM: Britain and Turkey secure continued tariff-free trade deal worth $25B000666
Britain and Turkey signed a trade deal Tuesday to continue tariff-free trading that was worth $25 billion last year. Britain has reached trade deals with 62 countries and the European Union in under two years as part of the government’s goal to secure free trade with countries that cover 80% of their trade in three… Continue reading World NM: Britain and Turkey secure continued tariff-free trade deal worth $25B000666
World NM: SsangYong receivership to speed up HAAH’s acquisition000643
By Nam Hyun-woo SsangYong Motor’s decision to file for court receivership is expected to help the ailing carmaker speed up the process of finding a new owner. If the court approves this, the company will have three months to address its financial problems before a court-led restructuring process takes effect. Industry officials noted that the… Continue reading World NM: SsangYong receivership to speed up HAAH’s acquisition000643
World NM: SsangYong Motor owes hefty overdue debt as it files for court receivership000642
Debt-ridden SsangYong Motor Co. said Tuesday it owes a total of 315.3 billion won (US$285 million) in overdue debt to financial institutions as it filed for court receivership a day earlier. China-based SAIC Motor Corp. acquired a 51 percent stake in SsangYong in 2004 but in 2009 relinquished its control of the carmaker in the… Continue reading World NM: SsangYong Motor owes hefty overdue debt as it files for court receivership000642
World NM: Ouster, maker of self-driving tech, agrees $1.9 billion deal to go public000641
Ouster Inc, a U.S. startup that makes lidar sensors for self-driving cars and smart cities. The deal values San Francisco-based Ouster at around $1.9 billion and makes it the fifth lidar manufacturer this year to agree a SPAC merger to go public, following on from Velodyne Lidar Inc, Luminar, Innoviz and Aeva. SPACs like Colonnade… Continue reading World NM: Ouster, maker of self-driving tech, agrees $1.9 billion deal to go public000641
World NM: Debt-laden SsangYong Motor files for court receivership000637
Financially-troubled SsangYong Motor Co. said Monday it has filed for court receivership as it struggles with snowballing debts amid the COVID-19 pandemic. In 2011, Mahindra acquired a 70 percent stake in SsangYong for 523 billion won and now holds a 74.65 percent stake in the carmaker. If Samjong gives no opinion on SsangYong’s annual financial… Continue reading World NM: Debt-laden SsangYong Motor files for court receivership000637
World NM: Hyundai JV, Lyft to launch driverless U.S. robotaxi services in 2023000625
In October, Motional partnered with U.S. on-demand shuttle startup Via to launch a shared robotaxi service in the U.S. next year. In the partnership, Motional’s self-driving vehicles will serve as on-demand, shared robotaxies based on Via technology that covers booking, passenger and vehicle assignment and identification, and fleet management. Motional, headquartered in Boston, plans to… Continue reading World NM: Hyundai JV, Lyft to launch driverless U.S. robotaxi services in 2023000625