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Hyundai has stated that it intends to sign binding deals with General Motors towards various areas of cooperation, such as the joint purchase of vehicle parts. They will also seek cooperation in the passenger and commercial vehicle businesses. "We are considering re-badging our commercial EVs and supplying GM... The deal will pave the way for our entry into the North American commercial vehicle market" remarked Hyundai Chief Financial Officer Lee Seung Jo.

Hyundai Faces 7% Drop in Q3 Operating Profit, But Stays Focused on Growth 📉 Hyundai Motor reported a 7% dip in third-quarter operating profit, reaching 3.6 trillion won ($2.6 billion), citing slowing demand and rising competition in the global auto market. Despite missing analyst expectations, the company remains committed to its 2024 target of achieving an 8-9% operating margin, with an 8.9% margin posted so far this year. Chief Financial Officer Seung Jo Lee highlighted global competition, policy uncertainties, and geopolitical risks as key challenges. Hyundai’s response includes doubling its hybrid lineup and delaying certain EV launches as EV demand softens. On the bright side, hybrid sales soared over 40%, driving higher profit margins. Hyundai also started production at its new U.S. factory in Georgia, which will help EVs qualify for federal tax credits. With plans to strengthen its position in India following a recent IPO, Hyundai is also exploring collaborations with General Motors, signaling a commitment to innovation and sustainability in the industry. #Hyundai #AutoIndustry #EVs #HybridVehicles #BusinessGrowth #Innovation #GlobalExpansion #AutomotiveLeadership

Nissan Motor Corporation Approves New Directors and Discusses Strategic Partnerships at 125th Shareholders Meeting Nissan Motor Co., Ltd. held its 125th Ordinary General Meeting of Shareholders today at the company’s global headquarters. The meeting, attended by 625 shareholders, lasted 1 hour and 47 minutes and saw the approval of several key proposals and the election of 12 directors. Shareholders approved the company’s proposal to distribute surplus and elected 12 directors, including the re-election of 10 directors whose terms had expired and the addition of two new directors to strengthen the company’s governance structure. During the meeting, 18 shareholders voiced their opinions and raised questions on several critical topics: The meeting highlighted Nissan’s commitment to […] - https://lnkd.in/dnzfJ-Pg #automotive #evs #ev #electricmobility #emobility #ebikes #fleets #evfleet #evnews #autonews #electricvehicles #electricvehicle #automotiveindustry #automotivejobs #cleantech #cleanenergy #hydrogen #lithium #evbattery #sustainability #climatechange #asia #collaboration #honda #japan #nissan #partnership #renault #yokohama

 Get expert advice from our dedicated automotive finance team today! 🚗💨 #CarLoans #ExpertAdvice #DriveYourDreams #AutomotiveFinance

China Automotive Systems, Inc. (CAAS) Q1 2024 Earnings Call Transcript: … everyone. Welcome to China Automotive Systems First Quarter 2024 … the growing demand for hybrid and NEV passenger vehicles … policies, more affordable cars being introduced and automobile exports, a … installed in Volvo vehicles, trucks. And mainly based on … #car #cars #awesome

Porsche Reduces Dealership Presence in China Amid Growing Challenges: Plan your financial future. Porsche sets sights on major cost reductions by 2030 In what proves to be a rather difficult period for European automakers, Porsche aims for substantial cost reductions amid declining demand in China. Chief Financial Officer Lutz Meschke has openly addressed the necessity for strategic financial adjustments. After all, the company’s operating profit saw a sheer […] The post Porsche Reduces Dealership Presence in China Amid Growing Challenges appeared first on Kingston Global Tokyo Japan. #GlobalEconomy

What can General Motors do to offset losing $5B in China? Add Contract Management! World Commerce & Contracting estimated that organizations can save 9% of their annual revenue by improving their contracting processes. This is $14.5 B for GM. #Ironclad #contractmanagement #GM #compliance https://lnkd.in/e99j6Rzt

Unlocking Speed: How Hyundai Motor America Went from 3 Hours to 2 Minutes 🏎 Hyundai Motor America (HMA) needed a system that provided easy access to financial data for their corporate, field teams, and dealers. Their previous system was too cumbersome, causing inefficiencies and slowing down productivity. Optimum Info partnered with HMA to implement the AMOS Business Management Solution, slashing report creation time from 3 hours to just 2 minutes. Curious how AMOS can revolutionize your business? Discover our success story here: https://hubs.li/Q02RcLkK0 #AMOS #Hyundai #BusinessManagement #GeoMarketing #OptimumInfo #Reports #FinancialData

As posted the past weeks, #Nissan is in dire straits, losing sales, firing 9'000 employees, and running low on cash since they have to offer vast incentives to get the metal moved. Now, Nissan and its #CFO part their ways: Chief #Financial Officer Stephen Ma is leaving the company. There are many reasons, most importantly an outdated model line-up. What the article is missing out is the lack of any competitive #electriccar which causes Nissan severe losses, particularly in #China. In other markets, the lack of hybrid cars is a further challenge. Nissan stock was rated "junk" by S&P Global Ratings more than a year ago in due to high debts and tangible and strong strategy towards #BEV. Based on my analysis, I repeatedly stated Nissan is the weakest among all #carmanufacturers in #Japan and I expect 2025 will become the Year of Fate to the company. https://lnkd.in/euTFygb8

Pleased to share that General Motors and Hyundai Motor Company (현대자동차) have signed a Memorandum of Understanding to investigate potential collaboration on key strategic areas like joint product development, manufacturing, supply chain and future clean-energy technologies. For customers, that means that both companies will look for ways to leverage their combined expertise to bring even more competitive vehicles to market faster. Read our joint press release (link in the comments section) to learn the details. #IworkforGM