South Korea’s top proxy adviser KCGS recommended shareholders vote against Elliott Management’s proposals for dividends and board members at Hyundai Mobis. KCGS stated it believed that Elliott seems to concentrate on improving the short-term value of the autoparts maker instead of addressing its future challenges.
A Tokyo court declined ousted Nissan boss Carlos Ghosn’s request to participated in a board meeting this week, refusing him a seat at the table even as the automaker looks set to bolster an alliance Ghosn built over two decades. Prosecutors filed a document to the Tokyo District Court from Nissan informing its opposition to
Kia Motors may suspend operations at its No.1 plant in China as part of its longer-term plans to improve competitiveness, a source knowledgeable with the matter stated on Sunday. Kia stated in a statement after the source informed Reuters on Sunday that the company is evaluating various plans to strengthen production and sales competitiveness in
French automaker Renault stated on Monday that it was in talks with its partners Nissan and Mitsubishi in relation to a new alliance body for the three companies. “In response to latest press reports, Renault confirms that it is in discussions with its Alliance partners Nissan Motor and Mitsubishi Motor regarding the establishment of a
Hyundai Motor Manufacturing Alabama LLC is donating $50,000 to the American Red Cross for tornado relief efforts. The donation of $50,000 concerns aiding the Red Cross as they work to assist Alabama people devastated by the storm. Since the storm, the American Red Cross has been in Lee County to give food, shelter, and other
Hyundai intends to construct its new headquarters in Seoul by 2023. Hyundai Motor is in talks with possible investors to develop its new headquarters planned for the Seoul, South Korea to share extra investment costs worth about 3.7 trillion won ($3.27 billion), it stated on Sunday. The South Korean automaker stated in a statement that
Nissan has unveiled its newest concept car at the 2019 Geneva Motor Show, the Nissan IMQ Concept and it shows some signs that what Nissan has planned to do in the future. Revealed at the Geneva Motor Show, the IMQ smoothly blends Japanese design with state-of-the-art, human-centric technology. It includes the recent innovations that bring
About 408,000 plug-in vehicle units were sold throughout Europe in 2018 Japanese auto giant Nissan states its compact hatchback named Leaf has become the first electric car to surpass 400,000 figure in sales. In an announcement Thursday, the automaker stated the landmark figure had established that the Leaf’s “leading role in the global shift toward
A Tokyo prosecutor stated Friday he find the bail conditions imposed on Carlos Ghosn, the former boss of Nissan Motor and Renault, would be insufficient to avoid tampering of evidence. Shin Kukimoto, deputy public prosecutor at the Tokyo District Public Prosecutors Office, was discussing with reporters on Thursday, a day after Ghosn was released on
Hyundai Motor is thinking about the plans to suspend production at its oldest plant in China, the South Korean automaker stated on Wednesday, as it reels from decreasing sales and massive overcapacity in its biggest market. The move by Hyundai, that together with affiliate Kia Motors was the No.3 automaker in China until 2016, shows
Former Nissan CEO Carlos Ghosn left Tokyo prison on a $9 million bail on Wednesday, slipping past reporters in a face mask and moving nearer to mounting a defense against financial misconduct charges that he has referred as “meritless”. Ghosn, one of the world’s most prominent auto executives whose dramatic rescue of Nissan about more
Zhejiang Geely Holding’s Chairman, Li Shufu, stated on Wednesday China’s automotive industry deals with restructuring and bankruptcies in the next three to five years as the industry modifies itself. Li made the discussion on the sidelines of China’s annual parliamentary meeting held in Beijing.
A Japanese court has declined prosecutors’ appeal against a decision to grant the bail to Carlos Ghosn, the ousted chairman of Nissan Motor, the court stated on Tuesday, paving the way for Ghosn to leave prison as early as Wednesday. The Tokyo District Court stated it had ruled against the appeal. The court had previously
It may even be the most powerful road car that was ever built. But being number one is not the most significant thing. Nor that it costs $2.63 million. What’s really important about the Pininfarina Battista, revealed recently at the Geneva Motor Show, is that it’s all-electric. Maker Automobili Pininfarina says its Battista does 0-62mph
A Japanese court granted bail to former Nissan Motor Chairman Carlos Ghosn on Tuesday. Prosecutors swiftly appealed the decision upon hearing the news about the bail, delaying an immediate release of Ghosn after more than three months in jail. Judges at the Tokyo District Court accepted defense lawyers’ assurances that the former chairman would submit