Set to be introduced to the European premium market at the Geneva Auto Show next week, the Hyundai Genesis will be aimed at establishing a foothold for the automaker in the market against BMW and Mercedes upon arrival in showrooms in June, particularly in Southern Europe, Slovakia and the Czech Republic.
When the Opel Adam enters the Chinese auto market in 2015, it will do so with a Buick badge as General Motors’ first high-end city car.
Just as J.D. Power ranks Hyundai fifth from dead last over quality issues regarding the 2011 Sonata, the automaker’s research and development president, Kwon Moon-sik, returns to the fold three months after quitting over a number of quality issues within the product line.
Though some electric vehicles have seen their share of woes, from fires in individual cars to bankruptcies filed by manufacturers, German chemical maker BASF is going in for the long game by investing in the EV battery market.
China’s Ministry of Industry and Information Technology, in line with President Xi Jinping’s desire for opening the domestic economy to private and foreign investors, plans to relax restrictions on foreign ownership of joint ventures with local automakers in the face of those warning such a move would be the beginning of the end of the Chinese local auto industry.
Sources close to Toyota say the engine plant in Altona, Australia will likely be relocated to Siam Toyota Manufacturing in Thailand once the automaker ceases Australian manufacturing operations in 2017.
Former Renault executive and incoming PSA Peugeot Citroen CEO Carlos Tavares aims to use the 3 billion euro investment made in the three-way pact between the automaker, the French government and Dongfeng as part of a 5.27 billion euro makeover of the automaker’s line of vehicles over the long-term.
Though the municipal government in Beijing has set aside 20,000 license plates for electric vehicles in an attempt to offset their ongoing air quality woes, very few residents are interested, even if it means waiting a long time to own a gasoline-powered car.
The 3 billion euro ($4.1 billion USD) three-way deal between PSA Peugeot Citroen, Dongfeng and the French government, signed this week, is set to inject new capital and a much needed life extension for Peugeot, though at the expense of the Peugeot family ceding control after two centuries.
The founding family behind PSA Peugeot Citroen has approved the 3 billion euro ($4.1 billion USD) deal between the French government and Chinese automaker Dongfeng just an industry analyst penned an open letter for PSA chairman Thierry Peugeot to reconsider before it becomes too late to turn back.
PSA Peugeot Citroen, Dongfeng and the French government have reached an outline deal to raise $5.5 billion in capital through a planned share sale in a last-ditch effort by PSA to remain alive after General Motors walked out of a similar deal over the Iranian market last year.
Chevrolet’s $600 million sponsorship deal with major football club Manchester United may have been a match made in heaven, but with Man U’s performance on the pitch as of late, the deal is now on the highway to hell according to Automotive News.
After a two-year break in expansion mandated by Hyundai Motor Company Chairman Chung Mong-koo in order to avoid quality issues experienced by Toyota during their aggressive growing spurt in the 2000s, Hyundai and Kia are both looking through feasibilities studies to determine where to invest in expanding their manufacturing footprint.
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