gamesindustryblog.com
gamesindustryblog.com May 22, 2017


Hyundai Motor Q1 net plunges 21% on weak China sales

28 April 2017, 01:05 | Muriel Sparks

Speaking about the brand-new plant, Han-Woo Park, president, Kia Motors, said that the new facility will not only provide greater flexibility for Kia's global business but also help sell cars in India, now the fifth largest market in the world. Kia Motors will subsequently also produce other models, which includes its global high-volume hatchbacks - the Picanto and Rio.

Korean auto-maker Kia Motors in a press release has confirmed that the company has signed a memorandum of understanding (MOU) with the State Government of Andhra Pradesh, India to build a new manufacturing facility in Anantapur District.

Forecasts suggest that the country will become the third- largest auto market by the end of 2020.

In a major boost to automotive manufacturing in India, Korean company Kia Motors has made a decision to set up base in Andhra Pradesh with an investment of $1.1 billion.

"Worldwide demand for Kia cars is growing and this is our latest step towards becoming a leading global vehicle manufacturer", Park said.

Janet Jackson's husband posts message to star on website
Earlier this month, it was reported that Jackson split from Al Mana because of his over protective ways. The pop star and the billionaire Qatari businessman Wednesday in 2012.

SAIC, biggest vehicle maker in China, and France's PSA are also preparing for an India entry. "Based on what happened between China and Japan over a territorial dispute in the past, sales could recover around the end of the second quarter or beginning of the third quarter", said Chang Moon-su, an analyst from Kiwoom Securities.

It will break ground in the fourth quarter of this year. Ford bet big with new facilities in India two years ago and still has just a 3% market share. We also brought you some information about its likely product line-up, pricing and model positioning strategy. The site will also be home to a number of supplier companies' facilities. "It is the result of the anti-Korean sentiment that flared up within China since late February and some rivals that launched marketing to exploit the anti-Korean sentiment", said Koo Zayong, a vice president at Hyundai Motor.

Kia Motors' new factory will be spread over 536 acres (2.16 sq. kms) and will have a manufacturing operation that incorporates stamping, welding, painting and final assembly facilities.

Globally, Hyundai shares parts and vehicle underpinnings with Kia, which it acquired in 1998.



Other News

Trending Now

Trump's budget chief says money for border wall a must
It looks as though they're leaning toward the latter, which would result in an omnibus bill that's pretty friendly to Democrats. Four in 10 voters rated congressional Republicans as generally bad, with 38 percent saying the same of Democrats in Congress.

Saudi King Salman fires top officials, restores benefits to state employees
In other changes, Salman dismissed minister of information and culture Adel Al Turaifi and replaced him with Awad Al Awad. Meanwhile, Saudi Minister of State for Civil Service Khaled Al Araj was removed from his post and set to be investigated.

Microsoft to stick with twice-a-year feature updates for Windows 10
You can download the update or indeed the app if you do not have it, through the Windows Store . That means it'll probably be included in the next major Windows 10 update .

Easy choice: Browns CB Haden wants Garrett with No. 1 pick
With the need for a quarterback glaring, the Browns find themselves once again trying to find their franchise signal caller. How many trades did the Bears make during last year's draft? Still, there's only so much information to gather and analyze.

Tatas to bid to keep Taj Mansingh
The court also said that the blemish-free record of IHCL may be taken into account by NDMC while auctioning the iconic property. Meanwhile, in a bid to create transparency in the bidding process, the NDMC will conduct an e-auction of the hotel.

PPG launches third takeover bid for Dulux maker AkzoNobel
It is also looking to launch a 110 million euro (£93.7 million) Dulux paint factory in Ashington, Northumberland. Additionally, PPG has agreed to protect pensions, jobs, and the Dutch firm's European headquarters.

Al-Sisi heads to Saudi Arabia Sunday to attend Egyptian-Saudi summit
Saudi Arabia supported Egypt with billions of dollars in aid after the ouster of the Islamist president Mohamed Morsi in 2013. In other changes, Salman dismissed minister of information and culture Adel Al Turaifi and replaced him with Awad Al Awad.

Spicer defends White House's lack of transparency
Be proactive - Use the "Flag as Inappropriate" link at the upper right corner of each comment to let us know of abusive posts . But after being sued, it voluntarily began disclosing the logs in December 2009, posting records every three to four months.

Senate Confirms Ex-Georgia Gov. Sonny Perdue As Agriculture Secretary
The U.S. dairy industry claims Canada unfairly lowered the price of its own "ultra-filtered" to reduce American imports. The American Farm Bureau Federation welcomes the confirmation and swearing in of Agriculture Secretary Sonny Perdue .

Christian Dior Couture bought by LVMH for US$7 billion
Revenue at Christian Dior has doubled over the last five years, as profitability has soared during the same timeframe. LVMH will pay 260 euro per share and shareholders can choose to be paid in cash or to get Hermes shares in return.