Author: World_Newz Mon

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

World NM: Fiat Chrysler setting up $150 million global digital hub in Hyderabad000623

Automotive major Fiat Chrysler Automobiles (FCA) is setting a global digital hub in Hyderabad with an investment of $150 million. The global digital hub will serve as a transformation and innovation engine for FCA and drive global IT strategy and deliver excellence through a robust platform, technology and service centres of excellence. The global digital… Continue reading World NM: Fiat Chrysler setting up $150 million global digital hub in Hyderabad000623