Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="103788" type="General" weightage="50" keywordseo="hyundai-motor-india-ltd" source="Orion">Hyundai Motor India Ltd</keyword> is considering acquiring land and building and some assets of <keyword id="44666" type="General" weightage="50" keywordseo="general-motors-india" source="Orion">General Motors India</keyword>'s Talegaon plant in Maharashtra.</li><li><keyword id="108829" type="General" weightage="80" keywordseo="hyundai-motor-india" source="Orion">Hyundai Motor India</keyword> has earlier announced its plans to get into electric vehicle manufacturing.</li></ul>Chennai, The Hyundai Motor <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> Ltd with a view to have a second automobile plant in India is considering to acquire land and building and some assets of General Motors India's Talegaon plant in Maharashtra. According to Hyundai Motor India, a Term Sheet has been signed for the potential acquisition of identified assets of the plant like land and building, certain machinery and equipment situated at the General Motors India's plant in Talegaon. The Hyundai Motor India said the proposed acquisition is subject to the signing of the 'Definitive Asset Purchase Agreement' and fulfillment of conditions precedent and receipt of regulatory approvals from relevant Government Authorities and all the stakeholders related to the acquisition. The Indian subsidiary of the South Korea's Hyundai Motors has a big manufacturing facility in Irrungattukottai near here. The Hyundai Motor India has earlier announced its plans to get into electric vehicle manufacturing. Further another facility outside <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> is a sort of derisking strategy and also being closer to other markets in the country. It should be noted Ford Motor Company had shuttered its Chennai plant operations sometime back. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/how-you-can-open-the-ai-chatbot-directly-from-macs-menu-bar/articleshow/98449632.cms#:~:text=Once%20you%20have%20downloaded%20the,simply%20click%20on%20'Open.'">ChatGPT just got more accessible: Here’s how you can open the AI Chatbot directly from Mac's menu bar</a> <a href="https://www.businessinsider.in/science/health/news/tally-health-unveils-innovative-platform-to-enhance-longevity-in-humans/articleshow/98387387.cms">This US-based startup claims to have cracked the process of reverse aging</a>

Hyundai Motor considering buying GM India's Talegaon plant assets

New Delhi, <keyword id="70910" type="General" weightage="20" keywordseo="Hyundai-motor" source="Orion">Hyundai Motor</keyword> India on Tuesday said all its models in the country would now come with six airbags as standard. The automaker also announced that it has decided for voluntary participation in the recently introduced Bharat NCAP with 3 models to begin with, and more models to follow. Under the Bharat NCAP programme, car manufacturers can voluntarily offer their vehicles tested as per the Automotive Industry Standard (AIS) 197. Based on the performance of the car in the tests, the vehicle will be awarded star ratings on a scale of 0-5, for adult occupants (AOP) and child occupants (COP). Potential car customers can refer to these star ratings to compare the safety standards of different vehicles and accordingly make their purchase decision. The carmaker also announced that its mid sized sedan Verna has received a five-star rating in adult and child occupant protection by Global NCAP. <keyword id="596" type="General" weightage="20" keywordseo="Hyundai" source="Orion">Hyundai</keyword> Motor India MD &amp; CEO Unsoo Kim said safety for all is the company's utmost priority. "We have been benchmark creators in standardisation of vehicle safety features. Now, we are elated to announce the standardisation of six airbags across all models and all variants," he added. Hyundai Motor India COO Tarun Garg said with rising road network and increase in speed limits it is natural to upgrade the cars. Taking a big leap in the safety journey, the company has now decided to standardise six airbags in all models and all variants, he noted. The automaker is also looking to enhance ADAS (advanced driver-assistance system) and connected features across its entire product range, Garg said.

Hyundai Motor India says all its vehicles to come with 6 airbags

<keyword id="434999" type="General" weightage="50" keywordseo="hyundai-motor-group" source="Orion">Hyundai Motor Group</keyword> said on Monday it will utilise 7.8 trillion won ($5.9 billion) worth of reservation money held by its overseas operations to push forward the group's planned investments in domestic electric vehicle (EV) plants. <keyword id="70910" type="General" weightage="80" keywordseo="hyundai-motor" source="Orion">Hyundai Motor</keyword>, its smaller affiliate <keyword id="6372046" type="General" weightage="80" keywordseo="kia" source="Orion">Kia</keyword> and auto parts maker <keyword id="596" type="General" weightage="100" keywordseo="hyundai" source="Orion">Hyundai</keyword> Mobis will receive $2.1 billion, $3.3 billion and $200 million, respectively, from their operations in the US and Europe in the form of dividends, the group said in a statement. Hyundai Motor said it will also receive dividends from its Indian operations, reports Yonhap news agency. "The dividends from their overseas operations will help the three companies cut back on bank loans, which will enhance their financial status and will allow them to make an aggressive investment (in EV plants)," the statement said. The group's overseas operations, including Hyundai Motor America, Hyundai Motor India, <keyword id="17681423" type="General" weightage="50" keywordseo="hyundai-motor-manufacturing-czech" source="Orion">Hyundai Motor Manufacturing Czech</keyword>, Kia America, Kia Europe and Kia Slovakia SRO, posted improved earnings results in the 2021-2022 period despite the COVID-19 pandemic. Hyundai Motor plans to complete a 150,000-unit-a-year EV plant in its main Ulsan plant, 299 kilometers southeast of Seoul, by 2025. In April, Kia began the construction of a 150,000-unit-a-year EV plant inside its existing factory in Hwaseong, just south of Seoul, with a goal to start production in late 2025. In the same month, the Korean automotive group announced it will invest 24 trillion won in its domestic EV plants and other EV projects by 2030. The three affiliates will collectively make the investment to help the group become the world's No. 3 EV maker in terms of sales by 2030. The companies plan to spend most of the planned investments in expanding their existing EV production lines, developing future mobility parts and technologies, establishing EV infrastructure and exploring new EV business opportunities. Hyundai Motor and Kia plan to release a total of 31 battery-powered EV models by 2030, including the Kia EV9 this month and the Hyundai IONIQ 7 next year. Hyundai Motor and Kia have set a combined sales goal of 7.52 million units this year, up 9.8 percent from the 6.85 million units they sold last year. The two together form the world's third-largest carmaker by sales after Toyota Motor Corp. and Volkswagen Group. On top of the domestic EV plants, the group is building a 300,000-unit-a-year EV and battery plant in the U.S. state of Georgia, with a goal to start production in the first half of 2025. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/stock-markets-snap-two-day-falling-streak-it-oil-shares-advance/articleshow/100937567.cms">Stock markets snap two-day falling streak; IT, oil shares advance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/with-international-travel-on-the-rise-indian-aviation-regulator-eases-norms-for-carriers/articleshow/100937433.cms">With international travel on the rise, Indian aviation regulator eases norms for carriers</a>

Hyundai to utilise $5.9 billion in overseas operations' money for EV investments

New Delhi: The upcoming Initial Public Offering (IPO) of <keyword id="20214518" type="General" weightage="20" keywordseo="Hyundai-Motors-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motors India" meta.hostid="261" meta.entityid="Hyundai Motors India">Hyundai Motors India</keyword> has sparked significant interest in the Indian markets, but a recent report by <keyword id="20303939" type="General" weightage="20" keywordseo="Aequitas-Investments" source="keywords" meta.keywordsubtype="org" meta.entityname="Aequitas Investments" meta.hostid="261" meta.entityid="Aequitas Investments">Aequitas Investments</keyword> suggests it may not be as promising for <keyword id="19953411" type="General" weightage="20" keywordseo="Indian-investors" source="keywords">Indian investors</keyword> as anticipated. The report highlighted several concerns, pointing to broader industry challenges and the valuation mismatch as reasons for caution. It said "Given the headwinds that the Global <keyword id="20081560" type="General" weightage="20" keywordseo="automobile-industry" source="keywords">Automobile Industry</keyword> is facing coupled with signs of a slowdown in India, the upcoming IPO might not be a great deal for Indian Investors" Hyundai Motor Company, the parent firm based in South Korea, is set to offload shares worth Rs 25,000 crore through an Offer for Sale (OFS) in the Indian market. However, the report suggested that the current global headwinds facing the automobile industry, combined with signs of a slowdown in India, may make this IPO less attractive for Indian investors. One of the key issues flagged in the report is the valuation of Hyundai Motors India. The report noted that despite contributing only 6.5 per cent of Hyundai's global revenue and 8 per cent of its overall profitability, the Indian unit is expected to be valued at approximately 42 per cent of the parent company's market capitalization upon listing. This valuation discrepancy raises concerns about whether the IPO price is justified given the Indian unit's relatively modest contribution to Hyundai's global business. "Despite contributing only 6.5 per cent of the global revenues and 8 per cent of the profitability, Hyundai's India unit will be valued at approx. 42 per cent of the Parent Co.'s MCap on listing" the report added. From Hyundai's perspective, the move makes sense. In South Korea, Hyundai's stock currently trades at a price-to-earnings (P/E) ratio of just 5x, making the sale in India potentially more lucrative. The report argues that Hyundai is looking to take advantage of the relatively higher valuations in India. It said "From Hyundai's perspective it's a no-brainer as their stock in S.Korea trades at a measly 5x P/E" Hyundai Motor Group, which includes both Hyundai and Kia, is the third-largest automaker globally, having sold 7.3 million vehicles in 2023. While Hyundai Motors India does not have a stake in Kia Motors India, the parent company owns a controlling 34 per cent stake in Kia Motors globally and fully owns Genesis Motors, a luxury brand in South Korea.

Hyundai IPO might not be a great deal for Indian investors: Report

<keyword id="70910" type="General" weightage="20" keywordseo="Hyundai-Motor" source="Orion">Hyundai Motor</keyword> said on Monday that its <keyword id="2198852" type="General" weightage="20" keywordseo="first-quarter-net-profit" source="Orion">first-quarter net profit</keyword> rose 17 per cent from a year earlier as an improved product mix and a weak won helped offset the impact of chip shortages. Net profit for the three months ended in March rose to 1.78 trillion won ($1.42 billion) from 1.52 trillion won a year earlier, the company said in a statement. "A combination of increased sales of high-end Genesis and SUV models, friendly exchange rates and low inventory levels helped offset the impact of global <keyword id="10389950" type="General" weightage="20" keywordseo="chip-shortage" source="Orion">chip shortage</keyword> and higher raw materials prices," the statement said. <keyword id="596" type="General" weightage="100" keywordseo="hyundai" source="Orion">Hyundai</keyword> expects parts supply shortages fueled by the lockdown in Shanghai and high raw materials costs driven by the Russia-Ukraine war will remain major woes for carmakers in the second quarter, reports Yonhap news agency. "The company will make efforts to achieve this year's business guidance by taking a variety of measures, despite those global market uncertainties," Seo Gang-hyun, executive vice president in charge of Hyundai's finance and accounting division, said in the company's earnings conference call. In 2022, Hyundai aims to sell 4.32 million vehicles, 10 per cent higher than its sales of 3.89 million units a year ago. The maker of the Sonata sedan and the Palisade SUV plans to focus on expanding sales of Hyundai's independent Genesis brand and Hyundai SUV models in the US and environment-friendly cars in Europe. In the US, the world's most important automobile market, Hyundai plans to gradually launch three fully electric Genesis models -- the GV60 SUV, the G80 sedan and the GV70 SUV -- this year. It sells the G70, G80, G90 sedans and GV70 and GV80 SUV models under the independent Genesis brand. Record-low inventory levels and planned global launches of vehicles built on <keyword id="434999" type="General" weightage="50" keywordseo="hyundai-motor-group" source="Orion">Hyundai Motor Group</keyword>'s EV-only electric-global modular platform (E-GMP) will help prop up the bottom line from the third quarter, analysts said. E-GMP models include the IONIQ 5 launched last year and the IONIQ 6 sedan and IONIQ 7 SUV set to be released this year and in 2024, respectively. But rising prices of lithium, nickel, and cobalt, key materials needed to make car batteries, will push up the manufacturing costs of electric vehicles. Hyundai said it will purchase more car batteries in advance, through partnerships with battery manufacturers, to minimize the impact of growing price volatility on the bottom line. It plans to spend 9.2 trillion won this year mainly on facility investments and research and development activities. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/here-are-the-new-credit-card-rules-effective-from-july-1-2022/articleshow/91071855.cms">From adjusting refunds against amount due to charges for disputes, here are the new credit card rules effective from July 1</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/motorola-launches-the-moto-g52-mobile-in-india/slidelist/91071402.cms">Motorola launches the Moto G52 in India —here are the top 10 highlights</a>

Hyundai Motor's profit up 17%, aims to sell 4.32 million vehicles this year

<keyword id="70910" type="General" weightage="50" keywordseo="hyundai-motor" source="Orion">Hyundai Motor</keyword>, South Korea's biggest carmaker, said on Friday that its sales fell 4.5 per cent in June from a year earlier, as a global chip shortage continued to affect its vehicle production and sales. <keyword id="596" type="General" weightage="100" keywordseo="hyundai" source="Orion">Hyundai</keyword> Motor sold a total of 340,534 vehicles in June, down from 356,631 units a year earlier, the company said in a statement. Domestic sales fell 13 percent to 59,510 units from 68,407 during the period, while overseas sales declined 2.5 percent to 281,024 from 288,224, reports <keyword id="1248424" type="General" weightage="50" keywordseo="yonhap-news-agency" source="Orion">Yonhap news agency</keyword>. From January to June, sales dropped 7.6 per cent to 1,877,193 autos from 2,031,185 units during the same period of last year. Hyundai has set a sales goal of 4.32 million units for this year, higher than the 3.89 million sold last year. Hyundai said on Thursday it is setting up a new investment affiliate in the US, in a follow-up to its pledge to invest $10.5 billion in the world's largest economy. The new affiliate, tentatively named HMG Global, will be established in Delaware state in the US and funded by Hyundai's three flagship arms -- Hyundai Motor, <keyword id="6372046" type="General" weightage="50" keywordseo="kia" source="Orion">Kia</keyword> and Hyundai <keyword id="1384468" type="General" weightage="50" keywordseo="mobis" source="Orion">Mobis</keyword>, according to regulatory filings posted by the companies. Hyundai Motor and its smaller affiliate Kia will together inject a combined $578 million in the new American unit. The new US affiliate is expected to be launched around August following regulatory approval. The move came as a follow-up to Hyundai's announcement in late May it will spend $5.5 billion to build electric vehicle and battery cell plants in Georgia. SEE ALSO <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/audi-gets-back-some-of-its-lost-shine-with-evs-gears-up-for-launch/articleshow/92594129.cms" style="">Audi gets back some of its lost shine with EVs, gears up for launch</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/lack-of-basic-safety-systems-behind-electric-two-wheelers-fires-says-government-probe-panel/articleshow/92536832.cms" style="">Lack of basic safety systems behind electric two-wheelers fires, says government probe panel</a>

Hyundai feels the pinch of chip shortage, global sales fall 4.5%

South Korean auto major <keyword id="20190176" type="General" weightage="20" keywordseo="hyundai-motor" source="keywords">Hyundai Motor</keyword> Group on Thursday said it is looking to expand the annual production capacity across <keyword id="19906087" type="General" weightage="20" keywordseo="Hyundai" source="keywords">Hyundai</keyword> and <keyword id="19997865" type="General" weightage="20" keywordseo="Kia" source="keywords">Kia</keyword> brands in India to 15 lakh units per year, as part of its mid-to-long-term strategy in the country. Outlining the company's strategy for the India market, Hyundai Motor Group (HMG) Executive Chair Euisun Chung said the automaker plans to roll out more <keyword id="19962337" type="General" weightage="20" keywordseo="EVs" source="keywords">EVs</keyword>, while also utilising the country as an export hub for the neighbouring countries. Chung visited India on April 23 to review the group's mid-to-long-term strategies to solidify its position as a leading mobility provider. Hyundai Motor Group is expanding its manufacturing footprint in the Indian region with the establishment of an annual production system of 1.5 million vehicle units for Hyundai Motor India and Kia India combined, the automaker stated. Hyundai Motor India will start operating its Pune plant, acquired from General Motors last year, in the second half of the next year. Hyundai Motor is currently making improvements to the facility to create a production hub capable of building more than 200,000 units annually, it said. With the addition of the Chennai plant's production capacity of 824,000 units, Hyundai Motor will have an annual production capacity of over one million units when combined with the Pune plant, it added. Besides, Kia India's yearly production capacity will also be expanded to 431,000 units within the first half of this year. "Combined together, Hyundai Motor Group will have the ability to produce approximately 1.5 million units annually in India," HMG said. The group also plans to expand its EV lineup and create an EV ecosystem to accelerate customer uptake and expand charging infrastructure. It will also strengthen its SUV sales leadership in India, HMG said. Hyundai Motor India plans to unveil its first locally produced EV in India next year, it said. Starting with the mass production of its first <keyword id="21425421" type="General" weightage="20" keywordseo="electric-SUV-model" source="keywords">electric SUV model</keyword> at the Chennai plant at the end of 2024, the company plans to further produce five EV models by 2030, it added. Hyundai Motor India will also utilize its sales network hubs, expanding the number of EV charging stations to 485 by 2030, HMG said. Kia India will also start production of its local EV model in 2025 and plans to further expand its EV models, it added. The company will also focus on building EV charging infrastructure, it stated. "India is among the fastest-growing economies globally, and as this growth continues the strategic importance of Hyundai Motor India will only increase," Chung said while addressing employees in a town hall meeting. He further said, "by leveraging our strong reputation and competitive quality in India, we aim to expand exports to neighbouring countries, making India the global export hub to boost our regional market competitiveness." Chung said that by around 2030, the automaker expects to see a substantial expansion in the EV market in India. "In anticipation of this evolution, Hyundai is focused on developing locally tailored EVs aimed at establishing us as a leading global EV brand," he added. "We also plan to proactively build charging stations at strategic locations 'including dealerships' to facilitate the adoption of EVs," Chung said. Hyundai Motor India sells models like Creta, Verna while Kia India sells models like Seltos, Carens and Sonet in the country. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a><a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a>

Hyundai plans to scale up production capacity, introduce more EVs in India

Hyundai will spend 2 trillion won ($1.51 billion) to build the 548,000-square-meter <keyword id="186291" type="General" weightage="20" keywordseo="ev" source="Orion">EV</keyword> factory in Ulsan, some 300 kms southeast of Seoul. When completed, it will be Hyundai's first domestic <keyword id="6362048" type="General" weightage="20" keywordseo="manufacturing" source="Orion">manufacturing</keyword> plant in 29 years since its Asan plant, built in 1996. The ceremony, held at the EV plant site, a former test drive site inside Hyundai's larger Ulsan plant, was attended by Hyundai Motor Group Executive Chair Euisun Chung and Ulsan Mayor Ki Du-kyum, reports Yonhap news agency. According to Hyundai, the envisioned facility will be operated through the company's innovative manufacturing <keyword id="49973" type="General" weightage="20" keywordseo="platform" source="Orion">platform</keyword> developed by the Hyundai Motor Group Innovation Center in <keyword id="6356662" type="General" weightage="20" keywordseo="singapore" source="Orion">Singapore</keyword>, the company's smart urban mobility hub. The platform factors in and streamlines elements involving workers' safety, convenience and efficient operations. It utilizes an artificial intelligence-based intelligent control system and environmentally friendly, low-carbon production methods. "The dedicated EV plant marks another beginning towards the era of electrification for the next 50 years," Chung said in his welcome remarks at the ceremony. Chung also pledged for Hyundai to work together with the local government to make Ulsan a "pioneering innovative mobility city," leading the era of electrification. Hyundai has previously announced a medium- to long-term goal of producing and selling 940,000 EV units by 2026 and 2 million units by 2030. After the event, Chung hinted that Hyundai intends to continue investing in the EV business despite recent cost-cutting efforts among global competitors, such as GM and Ford. "It's an investment we've been making, and while there are various methods, such as cost reduction, in the broader picture, the demand for EVs will inevitably continue to increase," Chung told reporters. Also featured at the ceremony was a video highlighting the history of Hyundai's Ulsan plant. In it, the late Chung Ju-yung, founder of Hyundai, whose image and voice were recreated using artificial intelligence technology, was seen praising the abilities of South Korean engineers. "Thanks to the outstanding abilities and dedication of these individuals, I am confident that the day is not far off when Korean cars, our cars, will dominate the global market," the late founder was portrayed as saying.

Hyundai Motor breaks ground on EV plant with 200,000 annual capacity

<div class="KonaFilter image-container"><div class="image"></div></div>
SEOUL (Reuters) - Hyundai Motor Co and its two affiliates approved Asia's biggest property deal since the financial crisis on Friday when their board members agreed to pay 10.55 trillion won ($10.12 billion) for a trophy plot of land to house a new headquarters in downtown Seoul.
The 854,030 square foot piece of land is in the capital's high-end Gangnam district. 
The Hyundai-led group, which includes Kia Motors Corp and Hyundai Mobis, plans to ink the deal with the state-run Korea Electric Power Corp later on Friday.
About 11.6 trillion Korean won ($11.11 billion) have been wiped of the market values of the companies since the purchase was announced last week.
Labor union employees, who make up the bulk of the companies' workforce, voted on Friday to extend a strike into next week in show of disapproval of the purchase which will be used to house a new headquarters, hotel and theme park complex.
"Building an integrated control tower will enhance work efficiency and brand value," Hyundai Motor said in its regulatory filing on Friday.
Shares of Hyundai Motor ended down 1.3 percent at 187,000 won each on Friday, their lowest level in 17 months. Kia Motors slipped 0.8 percent, and Hyundai Mobis was up 0.6 percent.
The $10 billion price-tag is equivalent to selling nearly half a million of Hyundai's flagship Sonata sedans, and nearly two years of combined wages for Hyundai's 63,099 employees in Korea, according to Reuters' calculation.
Hyundai Motor will pay 55 percent of the price, followed by Hyundai Mobis Co Ltd with 25 percent and Kia Motors Corp with 20 percent, the companies said. They did not disclose whether the board approval was unanimous.
The boards of the three companies had approved bidding at the Sept. 18 auction without knowing the price, which was deemed confidential, four board members told Reuters earlier.
Board disapproval is rare at Korea's family-owned conglomerates, or chaebols.
<h3>WORKERS EXTEND STRIKE</h3>
The land deal led to the domestic unions of Hyundai Motor and Kia Motors resuming partial strikes this week, clouding the outlook for annual wage talks.
Workers "are angered by the astronomical amount of money" to be spent on the land, Kia's union said.
Hyundai Motor's labor union said on Friday it would stage a partial strike from Monday through Thursday next week.
Hyundai, the world's fifth-biggest automaker along with its affiliate Kia, has been hit by strikes in all but four years of the union's 27-year history, although they usually make up losses with extra work later that year.
The stoppages comes as Hyundai and Kia are planning to build new factories in China and Mexico, closer to export markets and where wages are lower than in South Korea.
Recurring labor disputes, high wages at home and strong currency are expected to put further pressure on the automaker to accelerate overseas production. Hyundai made 62 percent of its cars last year overseas, up from 20 percent in 2004.
Since annual wage talks began in early June, Hyundai Motor and union negotiators have wrangled over a new wage calculation, which the company says would sharply increase labor costs.
Hyundai's domestic employees, excluding executives, earn an average 94 million won ($90,419) per year.
(Reporting by Hyunjoo Jin; Editing by Jeremy Laurence)

Hyundai-Led Group Will Pay $10 Billion For This Plot Of Land In Seoul

<a href="http://www.businessinsider.in/Hyundais-Creta-can-become-the-gamechanger-in-the-SUV-segment-in-India/articleshow/47514832.cms">Hyundai</a> cars would now be costlier than before with a price increase of up to Rs. 30,000. South Korean <a href="http://www.businessinsider.in/Rivals-forthe-new-Hyundai-Creta/articleshow/47866692.cms">car</a> maker, <keyword id="842798" type="COMPANY" weightage="100" keywordseo="Hyundai-Motor-India-Ltd-">Hyundai Motor India Ltd.</keyword> (HMIL) has announced the price increase in all its models except the newly launched Global SUV <keyword id="596" type="CITY" weightage="100" keywordseo="Hyundai">Hyundai</keyword> CRETA. 
 
The price increase would come into effect from Aug 01, 2015. 
 
 Commenting on the price increase Mr. Rakesh Srivastava, Sr. <keyword id="2968361" type="UNKNOWN" weightage="100" keywordseo="VP-sales">VP - sales</keyword> and marketing, <a href="http://www.businessinsider.in/Hyundai-Indias-Group-Marketing-Head-Sanjay-Gupta-Quits/articleshow/47300419.cms">Hyundai Motor India Ltd</a>., told ET, "The price increase has been necessitated by increase of input costs. We have been absorbing most of the costs but now we are constrained to consider the price increase in these challenging market." 
 
 
The <a href="http://www.businessinsider.in/Hyundai-CRETA-set-to-redefine-SUV-experience-for-Indian-drivers/articleshow/47861705.cms">automakers</a> cost in India has been under constant pressure due to the sustained high level of discounts to woo buyers in this sluggish buying environment. The raw material costs had so far remained benign, but the move by Hyundai Motor India suggests otherwise. This price increase may trigger other carmakers to hike prices. 
 
(Image credits: Indiatimes)

You Searched For "hyundai motor" and got 10 results

Hyundai Motor considering buying GM India's Talegaon plant assets

IANS

Hyundai Motor India says all its vehicles to come with 6 airbags

PTI

Hyundai to utilise $5.9 billion in overseas operations' money for EV investments

IANS

Hyundai IPO might not be a great deal for Indian investors: Report

ANI

Hyundai Motor's profit up 17%, aims to sell 4.32 million vehicles this year

IANS

Hyundai feels the pinch of chip shortage, global sales fall 4.5%

IANS

Hyundai plans to scale up production capacity, introduce more EVs in India

PTI

Hyundai Motor breaks ground on EV plant with 200,000 annual capacity

IANS

Hyundai-Led Group Will Pay $10 Billion For This Plot Of Land In Seoul

Reuters,Dina Spector

Hyundai India faces a price hike of upto Rs. 30,000

BI India Bureau

Popular Keywords

Buying Guides