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Hyundai and SK On Agree to Build Battery Factory in U.S.

Hyundai Motor Co and fellow South Korean company SK On have agreed to invest approximately $2.5 trillion won ($1.88 billion) in the construction of a new joint venture battery factory in the United States. The two parties are expected to sign a memorandum of...

Volkswagen May Pull Production Out of Eastern Europe Amid Gas Crisis

Volkswagen AG confirmed on Thursday that it may decide to pull its manufacturing out of Germany and Eastern Europe should the ongoing natural gas shortage continue. According to the auto manufacturer, withdrawing production from the region is one feasible option over the medium term...

Japan Government and Automakers to Discuss Industry Future

The Japanese government is aiming to meet with automakers to discuss the future of the country's automotive industry as soon as next month, Japanese industry minister Yasutoshi Nishimura said on Sunday. The head of the Ministry of Economy, Trade, and Industry revealed this plan...

Volkswagen to Launch Landmark Porsche IPO, Defying Market Conditions

Volkswagen announced on Monday its intention to float luxury sports car brand Porsche for an initial public offering in what could be one of the world's largest listings. The IPO, with an expected valuation between 60 billion and 85 billion euros, is set to...

Korea’s SK Invests $100 Million in EV Startup Atom Power

South Korean IT services and holding company SK Inc announced on Thursday a $100 million investment in electric vehicle startup Atom Power. Through the introduction of groundbreaking hardware and software, the North Carolina-based EV company aims to upgrade the electric vehicle charging experience across...

Porsche Approaches Gulf Sovereign Funds in Pursuit of Landmark IPO Listing

In an effort to pull off one of Europe's biggest IPO listings, Porsche is approaching an array of Middle Eastern sovereign wealth funds for anchor investments. The Volkswagen AG unit has already engaged with the likes of Abu Dhabi’s Mubadala Investment Co. and ADQ,...