Are you planning to buy a car this festive season? Over the past couple of months, car sales have been on a downward trend. But automakers are banking on some hefty discounts and enticing promotional offers tied to the festive season to finally shift those sales into high gear. The Indian automobile market, once driven … Read more
Korean auto major Hyundai Motor is looking at consolidating its presence in the country’s fast-growing SUV segment with the launch of three-row SUV Alcazar. Tarun Garg, Chief Operating Officer (COO), Hyundai Motor India said there is an increase in demand for three-row SUVs with buyers travelling longer distances, and often with families. This has led … Read more
Hyundai Motor, long the most successful foreign automaker on Indian roads, is hoping to regain market share from increasingly formidable domestic rivals by launching a series of new SUVs as it gears up for a $3 billion public listing in the country. The SUV rollout will begin with its first India-made electric vehicle early next … Read more
Hyundai Motor Co. plans to double its lineup of hybrid cars as demand for pure electric vehicles slows, and announced a 4 trillion won ($3 billion) share buyback as part of a plan to boost investor returns. Unveiling a new strategy at its 2024 investor day Wednesday, the world’s third-biggest carmaker said it will increase … Read more
Telangana Chief Minister Revanth Reddy, accompanied by IT and Industries Minister Sridhar Babu, met with officials of Hyundai Motor in South Korea’s Seoul on Monday to attract investments for boosting the state’s economy. During the meeting, CM Reddy said, “Telangana state government has actively been focussing on major investment opportunities by global giants. Hyundai Motor … Read more
Tesla CEO Elon Musk is no stranger to making bold promises with little follow through, but maybe this time will be different. He just posted on his social media site X that Tesla will have humanoid robots in “low production” for the automaker’s internal use sometime next year. Then, they’ll “hopefully” be rolled out to … Read more
Good morning! It’s Friday, July 19, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. New York Joins California, Banning Non-Electric Vehicles After 2035 1st Gear: Trump Tells RNC He’ll End EV Mandate … Read more
Banks advising South Korean automaker Hyundai on its India IPO are set to make as much as $40 million in fees, three sources said, a windfall in a market where banks typically struggle to make money given cost-conscious clients and fewer big deals. That would be the second-highest fee pot ever for investment banks working … Read more
India’s equity frenzy has attracted a global biggie which wants to ride on the high investor sentiment. Hyundai Motor India Ltd. (HMIL), the country’s second-largest car maker, is coming out with a Rs 25,000 crore IPO, which could be India’s biggest ever, in the next four to six months and will see the South Korean … Read more
Hyundai Motor’s Indian business filed draft papers on Saturday for what could be one of India’s biggest initial public offerings (IPOs), which the South Korean automaker said was aimed at increasing its brand image and providing liquidity in the country. Here are some of India’s largest IPOs: * LIFE INSURANCE CORPORATION OF INDIA (LIC) State-owned … Read more
