Elliott held over $1 billion worth of shares in the company. Elliott Management sold its shares in Hyundai Motor companies last year after it was thwarted in its campaign for huge special dividends and board seats. The U.S. activist hedge fund was not one of the December 2019 year-end list of shareholders at any of […]
Hyundai
Hyundai Motor turns in best quarter since early 2017
Hyundai Motor turned in its best quarterly operating profit in more than two years and stated it was on its way for higher profit margins in 2020, powered by more sales of sport-utility vehicles (SUVs) including the Palisade and Kona. The better-than-expected operating revenues, which fueled an increase in shares, signal measures by Hyundai Motor […]
Hyundai, Kia backs electric van startup Arrival Ltd with $110 million investment
South Korea’s Hyundai Group is backing a UK electric vehicle startup that plans to start selling battery-powered delivery vans in 2021, the companies stated last week. Hyundai Motor and sister firm Kia Motors are making an investment of 100 million euros ($110 million) in Arrival Ltd. Founded in 2015 and based in London, Arrival has […]
Hyundai reveals first Genesis SUV, making further expansion overseas
Hyundai Motor revealed the first sport-utility vehicle (SUV) under its Genesis brand on Wednesday, move analysts stated was an important move for the automaker’s expansion in overseas markets. The brand spun off in 2015, is an initiative of Hyundai Motor Group heir-apparent Euisun Chung is dedicated to revamping the image of the value-for-money automaker. However, […]
Hyundai, Kia sales drop to seven-year low, but has hopes for better 2020
South Korean automaker Hyundai Motor and affiliate Kia Motors turned in their lowest sales in seven years in 2019 as their sales in China slumped, missing their target for a fifth straight time, but forecast better figures for 2020. Weak 2019 sales speak about the challenges Hyundai Motor Group has been dealing with, including a […]
Hyundai Development’s consortium closes $2.2 billion acquisition of Asiana Airlines
South Korean Seol-based Hyundai Development Company (HDC) stated on Friday its consortium has closed on its 2.5 trillion won ($2.16 billion) acquisition of a controlling stake in the nation’s second-biggest carrier Asiana Airlines Inc. Hyundai Development stated out of the 2.5 trillion won its consortium with Mirae Asset is going to pay for the acquisition, […]
Hyundai suspends bridge project in Chile in a row with government
Chile’s finance minister has sought to underestimate a row between the government and Hyundai over a $740 million suspension bridge, stating that disputes in such mega projects were “quite common”. Hyundai Engineering and Construction (HDEC) stated on Monday it had suspended construction of the bridge, which will link the Chilean island of Chiloe to the […]
Hyundai’s $1.8 billion deal with Daewoo hits EU antitrust hurdle
Hyundai Heavy Industries Holdings’ $1.8 billion merger with competitor Daewoo could inflate costs, EU antitrust regulators cautioned on Tuesday as they started a full-scale investigation. Hyundai is looking forward to reinforce its position as the world’s biggest shipbuilder partly in response to overcapacity in the industry. The merged company would be having a 21% market […]
Hyundai’s $1.8 billion deal with Daewoo faces EU probe
World No. 1 shipbuilding group Hyundai Heavy Industries Holdings’ $1.8 billion merger with competitor shipbuilder Daewoo will deal with a full-scale investigation in Europe because of severe EU antitrust concerns, two people knowledgeable with the matter stated on Monday. Hyundai in January declared the deal to form the world’s biggest shipbuilder with a 21 percent […]
Hyundai to invest $1.55 billion in the first plant in Indonesia
Hyundai Motor stated on Tuesday it has signed a deal to construct a new factory in Indonesia, which is going to be its first car plant in Southeast Asia and a blow to Japanese competitors that dominate the market. The deal comes as Hyundai and affiliate Kia Motors continue to have a hard time with […]
Hyundai to make Santa Cruz pickups at Alabama plant as a part of expansion strategy
Hyundai Motor is going to start making its Santa Cruz pickup trucks at its U.S. factory in 2021, with an investment of about $410 million, as it looks forward to a foothold in the popular, but highly competitive, sector led by U.S. competitors. The Alabama factory expansion was declared as President Donald Trump is expected […]
Hyundai targets electric vehicle sales of over half a million by 2025
South Korea’s Hyundai Motor vowed to increase sales of electric vehicles (EV) to more than half a million by 2025 as part of a bid to focus on new technologies and catch up with competitors, but some analysts observed the target as conservative and warned of the expenses. The announcement by Hyundai, the world’s fifth […]
Hyundai, Kia sue four big U.S. railroads for fuel surcharges
Hyundai Motor and its Kia affiliate have taken legal action against the four largest U.S. railroads, alleging them of violating U.S. antitrust law by conspiring to drive up shipping costs though coordinated fuel surcharges. The South Korean automakers submitted three lawsuits on Monday alleging BNSF, CSX Corp, Norfolk Southern and Union Pacific of putting the […]
Benefits Of Buying A Used Kia Rochester
Owning a car can provide a lot of benefits. It allows you to travel from one location to another, without the need to check the availability of public transportation. But since buying a brand-new car is an expensive investment, more and more people are now buying used Kia cars in Rochester and other locations. For […]
Kia Seltos set to raid the Indian Market
Seltos is expected to perform well in India Kia Motors, are set to raid the Indian market with the launch of their mid-SUV Kia Seltos. The trial production of the car started in January and the final product is ready within 6 astonishing months. Kia motors commenced the bookings for the car on July 16th […]
