Hyundai and affiliate Kia will invest W21 trillion by 2030 to boost electric vehicle production in Korea to 1.44 million a year (US$1=W1,266).
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The United States and European Union will announce a joint effort to avert a “subsidy race” as they scramble to boost production of scarce semiconductor chips.
India’s manufacturing of fuel cell electric vehicles (FCEVs) has kicked off with several automakers rolling out electric cars at a rapid pace.
China’s Geely, which owns Volvo, will buy a 34-percent stake in Renault Korea for W264 billion (US$1=W1,276).
-German automotive supplier Bosch is aiming to be profitable this year but said that a definitive forecast is not possible due to economic and political uncertainties.
Schmidt agreed that the move to buying cars online will likely accelerate now that the European Union had proposed to make it illegal to sell nonelectric vehicles by 2035.
Russian troops have eliminated 142 Ukrainian combat aircraft, 634 unmanned aerial vehicles, 2,638 tanks and other armored vehicles and 304 multiple launch rocket systems since the beginning of the special military operation in Ukraine.
Following the onslaught of Omicron in Shanghai and the northeastern province of Jilin, Beijing has moved ever faster to curb the spread of new clusters.
In his words, the French company will have an opportunity to buy back its stake within five or six years.