South Korea antitrust chief calls Elliott’s Hyundai demand “inappropriate”

Hyundai Tuscon images

South Korea’s antitrust chief on Thursday stated U.S. activist fund Elliott Management’s proposal for Hyundai Motor Group to embrace a holding company structure was “inappropriate” and, if applied, would be in infraction of antitrust law. The proposal consists of Hyundai’s financial subsidiaries that comes under the ownership of a non-financial entity, which is restricted by […]

Hyundai to communicate shareholders and investors for restructuring plan

Hyundai Sonata seoul south korea

Hyundai Motor stated it would keep communicating with shareholders and investors, including Elliott Management, regarding its proposed restructuring plan. “Hyundai Motor Group will keep communicating with shareholders and investors across the world, including Elliott Management, to describe the underlying goal and requirements of the proposed restructuring plan,” it stated on Monday. U.S. activist hedge fund […]

Toyota and Mazda to built $1.6 billion plant for Huntsville, Alabama

Albama map

Toyota Motor and Mazda Motor stated on Wednesday they will construct a $1.6 billion joint assembly plant in Alabama that will hire approximately 4,000 employees, a boost for President Donald Trump, who wants auto companies to broaden U.S. production. Toyota CEO Akio Toyoda and Mazda CEO Masamichi Kogai joined Alabama Governor Kay Ivey in Montgomery […]

Hyundai is thinking about a plant in Southeast Asia following China setback

2017 Hyundai Elantra

Hyundai Motor stated it is thinking about constructing an automobile plant in Southeast Asia with Indonesia and Vietnam possible places – part of efforts to diversify after a sales downturn in China. The automaker does not have an automobile manufacturing factory in Southeast Asia, although it has some pure assembly operations in Indonesia and Vietnam […]