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Hyundai Motor Co is engaged in the manufacturing and distribution of motor vehicles and parts. The business of the group is operated through a vehicle, finance, and other segments. Its vehicle segment is engaged in the manufacturing and sale of motor vehicles. The finance segment operates vehicle financing, credit card processing, and other financing activities. Others segment includes the research and development, train manufacturing and other activities. The company derives majority of the revenue from vehicle segment.

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Consumer support for robotaxis is low for people who have not been inside a self-driving vehicle or live in a city where the vehicles operate.

Elon Musk May Unveil Tesla&#39;s Robotaxi, But Consumers Respond With &#39;Ehhh,&#39; New Study Reveals Skepticism, Need For Trust-Building

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Experts push infrastructure to boost cross-border trade

MONTERREY, Mexico — With nearshoring accelerating trade growth between the U.S. and Mexico, experts said both countries need to focus on infrastructure, technology, policies and cargo security to keep goods flowing seamlessly.

Borderlands Mexico: Experts Push Infrastructure to Boost Cross-Border Trade

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The revamped model includes a larger battery, increasing the car&#39;s capacity from 77.4kWh to 84kWh, potentially extending its range from 285 miles to roughly 301 miles. 

Hyundai&#39;s Tesla Model Y Challenger Just Got A Bigger Battery And A Whole Lot Of New Features In Refreshed Avatar

HYUNDAI MOTOR CO by Hyundai Motor Co., Ltd.

Hyundai Motor Co

<ul>
<li>Muñoz to lead Hyundai Motor Company's global business</li>
<li>Continues to serve on the Hyundai Motor Company Board of Directors</li>
</ul>
Hyundai Motor Company (HMC) today announced the appointment of José Muñoz as the company's President and CEO, effective Jan. 1, 2025. Muñoz will lead Hyundai Motor Company's global business, succeeding current President and CEO Jaehoon Chang, who has been promoted to the Vice Chair of Hyundai Motor Group – Automotive Division.

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Reported Earlier, Hyundai Motor Company Names José Muñoz As President And Chief Executive Officer, Effective January 1, 2025

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk has dreamed for years of having vehicles that don't require a driver and can take a passenger from one place to another. On Thursday, Musk's vision could be realized with the likely unveiling of <a href="https://www.benzinga.com/trading-ideas/24/10/41274987/how-to-watch-tesla-robotaxi-day-live-elon-musks-autonomous-vehicle-event-is-here">the Tesla Robotaxi.</a>
However, a new survey finds that when it comes to demand and consumer trust, the robot axis might not be ready for mass adoption.
What Happened: A new J.D. Power survey of consumers tests the experience and ratings of passengers who have taken a ride in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41212796/tesla-robotaxi-day-preview-move-over-autonomous-vehicles-analyst-says-this-positive">an autonomous vehicle.</a>
The 2024 U.S. Robotaxi Experience Study <a href="https://www.jdpower.com/business/press-releases/2024-us-robotaxi-experience-study">found </a>that consumers had an average level of satisfaction of 8.53 on a 10-point scale.
The study, which took place in August, is based on the five categories of comfort and convenience, initiating the ride, riding in the vehicle, service availability and cost, and vehicle technology. Of the five categories, technology scored the highest.
Consumers who rode in a robotaxi had a 76% consumer confidence score for a fully automated, self-driving vehicle. While that score is relatively high, the consumer confidence score of people for fully automated, self-driving vehicles who have not ridden in a robotaxi was only 20%.
When asked to describe their ideal robotaxi service, respondents prioritized safety, with 78% selecting it as the most important factor, followed by reliability at 71% and trustworthiness at 66%.
One of the most important consumer requests in the survey was for the robotaxi to offer an emergency button to connect to local emergency services. Other requests were for the ability to select vehicles based on safety features and having the route set beforehand.
Companies mentioned in the report, which had their vehicles tested, include:
<ul>
<li>Cruise, which is majority owned by General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>)</li>
<li>May Mobility</li>
<li>Motional, which is a joint venture between Hyundai (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMLF#OTC">HYMLF</a>) and Aptiv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APTV#NYSE">APTV</a>)</li>
<li>Waymo, a subsidiary of Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</li>
<li>Zoox, a subsidiary of Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</li>
</ul>
The study occurred in the five markets of Dallas, Las Vegas, Los Angeles, Phoenix and San Francisco.
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<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
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Why It's Important: The study finds relatively high trust and satisfaction ratings for consumers who experience a robotaxi in some of the largest cities that have approved or are testing the technology.
Another takeaway from the report is that even living in a city with robotaxis and higher consumer awareness can improve trust in the technology. The study found that consumer confidence was 34% for people who had not ridden in a robotaxi and lived in one of the cities with robotaxis in operation.
"The robotaxi segment is still anyone's game, given that most people are not familiar with robotaxi brands and haven't formed a clear associative imagery," J.D. Power Senior Director of user experience benchmarking and technology Kathleen Rizk said.
Rizk added that the companies with robotaxis need to "look beyond their deployment markets and find ways to educate and build trust with all consumers."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/education/24/10/41166723/how-many-evs-has-tesla-delivered-produced-each-quarter-a-look-at-the-results-since-2019" target="_blank" rel="noreferrer noopener">How Many EVs Has Tesla Delivered, Produced Each Quarter? A Look At The Results Since 2019</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Elon Musk May Unveil Tesla's Robotaxi, But Consumers Respond With 'Ehhh,' New Study Reveals Skepticism, Need For Trust-Building

<div>Experts push infrastructure to boost cross-border trade</div>

MONTERREY, Mexico — With nearshoring accelerating trade growth between the U.S. and Mexico, experts said both countries need to focus on infrastructure, technology, policies and cargo security to keep goods flowing seamlessly.

"The reality is there's never been a time when U.S.-Mexico trade was more important than it is right now" Mark Yeager, CEO of Chicago-based Redwood Logistics, said Tuesday during the company's inaugural Cross-Border Logistics Council.

The two-day event brought together more than 75 shippers, technology companies and trade professionals in Monterrey to discuss cross-border supply chains, nearshoring trends and other topics.

"This is our Olympics, our World Series. It can be challenging, complex and can require patience and perseverance, but we also all know that that kind of complexity comes with opportunity — opportunity for all of us" Yeager said.

U.S. trade with the world totaled $5.1 trillion in 2023, according to data from the U.S. Census Bureau. Mexico did almost $800 billion in trade with the United States last year, once again becoming the nation's top trade partner.

<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/19/Borderlands_Redwood_Monterrey2-1200x675.jpg" />

Redwood Logistics recently held its inaugural Cross-Border Logistics Council event in Monterrey, Mexico, featuring fireside chats and panel discussions on U.S.-Mexico trade. Pictured from the left are Alejandro Gonzalez, COO of Gontor Logistics; Israel Delgado, vice president of Canacar's northeast region and CEO of Express Service Transport; Marianna Raphael, general director of Connecting Mexico; and Noi Mahoney, reporter at FreightWaves. (Photo: Redwood Logistics)

Infrastructure that would increase trade across North America was a major talking point at the event. 

"I think you're seeing growth all across the U.S.-Mexico border … and Laredo [Texas] is where the rubber meets the road" said Jordan Dewart, president of Redwood Mexico. "I think that's where the infrastructure is headed. That's where the main investment deals on highways to access the border are going. If you go to Laredo right now, the amount of new warehousing construction, new trucking facilities construction, is just staggering. There are miles and miles of construction. If you drive up I-35, you can see the dust clouds from 50 miles away from all construction. So I think everyone will benefit."

Israel Delgado, CEO of San Diego-based Express Service Transport Inc., said the trucking industry on both sides of the border is being affected by government regulations such as Mexico's Carta Porte Complement (CCP).

The CCP is a digital tax document issued to shipments aimed at protecting the transfer of legitimate goods across Mexico. It was introduced in 2021 but has faced criticism from members of the trade community critical of the regulation adding more complexity to cross-border transactions.

"The Carta Porte is one of the biggest issues that we have experienced over the last few years" Delgado said.

Delgado, who is also vice president of the northeast region of Mexico for Canacar, Mexico's trucking chamber of commerce, said the country faces a shortage of drivers as well.

"The lack of drivers is something that we need to take a look into" Delgado said. "We've been pushing so hard in trade shows. We have 56,000 driver jobs open in Mexico today."

He said Canacar promoting truck driving and logistics jobs to men and women in Mexico. 

"A lot of moms want to jump into trucks, and I think we need to let go of the old mindset that women cannot do the job" Delgado said. "We have less than 5,000 women participating in trucking. So we need to support women in Mexico and do whatever it takes."

Marianna Raphael, general director of Connecting Mexico, said cargo security is something Mexico has to address. Connecting Mexico is a Mexico City-based organization that helps promote investment in the country.

"I think that security is a huge thing. Our current government has focused on the militarization of everything. They are talking about a more specialized military force to take care of security on roads" Raphael said. "I do think that there needs to be a different approach on security, to show people that are afraid of having to drive or for companies, it's good to know the government is there."

<h2 id="h-korean-ev-supplier-begins-construction-of-plant-in-northern-mexico">Korean EV supplier begins construction of plant in northern Mexico</h2>

South Korea-based electric vehicle parts manufacturer Seco Seojin Mobility has begun construction of its first facility in Mexico, a $300 million factory in the city of Escobedo.

The plant will produce EV motors for automakers such as Kia and Hyundai, according to El Economista. The factory is scheduled to begin operations in 2025.

Escobedo is about 14 miles north of Monterrey and 155 miles south of Laredo.

Seojin Mobility, headquartered in Siheung, South Korea, is the primary supplier for Hyundai (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymlf#OTC">HYMLF</a>) and Kia and also works with General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>), Ferrari (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/race#NYSE">RACE</a>), Renault (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rnlsy#OTC">RNLSY</a>) and Volvo (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vlvly#OTC">VLVLY</a>).

<h2 id="h-kirchhoff-automotive-expanding-operations-in-mexico">Kirchhoff Automotive expanding operations in Mexico</h2>

Tier 1 auto parts supplier Kirchhoff Automotive recently announced plans to expand its manufacturing operation in Puebla, Mexico.

The Germany-based company also said it is building a manufacturing plant near the Mexican city of Queretaro scheduled to begin operations in 2025.

"The expansion of our Puebla plant is a crucial step in doubling our operational footprint in Mexico, turning visions into tangible realities" the company said in a statement to the media.

The expansion in Puebla includes the construction of a 1 million-square-foot facility to manufacture parts for automotive seat assemblies. The parts will be for one of Kirchhoff's largest clients, Volkswagen, which also has manufacturing operations in Puebla.

Kirchhoff Automotive is based in Iserlohn, Germany. The company has 27 plants in 11 countries, including seven in the U.S., and employs more than 8,000 people globally. 

<h2 id="h-wsi-named-operator-of-cpkc-transload-terminal">WSI named operator of CPKC transload terminal</h2>

Third-party logistics provider Warehouse Services Inc. (WSI) has been selected as the operator of CPKC's Zacha Transload Terminal in Dallas.

The terminal includes 9,800 square feet of track capacity and 50 acres of outdoor storage for commodities such as steel, lumber, plastics, aggregates and agricultural products.

"The Dallas market is critical to showcasing the value of a combined CPKC network" Coby Bullard, CPKC senior vice president, sales and marketing, said in a news release. "Dallas is one of North America's fastest growing metropolitan areas and we believe that selecting WSI will drive growth and efficiency for our mutual customers."

Appleton, Wisconsin-based WSI operates a network of 30 logistics and rail-served warehouses across the U.S.

The post <a href="https://www.freightwaves.com/news/borderlands-mexico-experts-push-infrastructure-to-boost-cross-border-trade">Borderlands Mexico: Experts push infrastructure to boost cross-border trade</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

Hyundai Motor Co&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMLF#OTC">HYMLF</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/23/11/35822480/hyundai-debuts-its-all-new-2025-ioniq-5-n-electrified-sports-vehicle-whats-on-the-cards" rel="noreferrer noopener">Ioniq 5&nbsp;electric vehicle</a>&nbsp;is set to undergo a revamp, with over-the-air (OTA) updates, an expanded battery capacity, and the inclusion of a rear window wiper, according to details revealed on Hyundai&#8217;s Korean website.
What Happened:&nbsp;<a target="_blank" href="https://electrek.co/2024/03/03/hyundai-ioniq-5-refresh-details-ota-updates-bigger-battery-and-a-rear-wiper/" rel="noreferrer noopener">Electrek</a>&nbsp;reported on Thursday that Hyundai has updated its Korean website with information regarding the upcoming refresh of its popular Ioniq 5 EV. While the exterior remains largely the same, the vehicle now comes with a host of new interior features.
The revamped model includes a larger battery, increasing the car&#8217;s capacity from 77.4kWh to 84kWh, potentially extending its range from 285 miles to roughly 301 miles.&nbsp;
Despite the larger battery, Hyundai assures that the Ioniq 5 will still charge from 10%-80% in 18 minutes.
Notable exterior changes include new colors, an exterior charge status indicator, and a slightly larger rear spoiler. The addition of a rear window wiper addresses a significant criticism of the original model. The vehicle&#8217;s length has also increased by 20mm due to changes in the bumpers.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-electric-vehicle-stocks" rel="noreferrer noopener">Best Electric Vehicle Stocks</a>
Inside, new features such as Hyundai&#8217;s &#8220;Digital Key 2&#8221;, improved sound and vibration dampening, and a redesigned steering wheel with &#8220;pixel&#8221; lights have been introduced. The most significant interior change, however, is the addition of Hyundai&#8217;s &#8220;Connected Car Navigation Cockpit&#8221; software and over-the-air updates, a feature already present on the Ioniq 6 sedan.
These updates are currently detailed on Hyundai&#8217;s Korean website, and it is yet to be determined whether all changes will be incorporated into the U.S. version. The price for the refreshed Ioniq 5 remains unchanged in Korea, leading to expectations that U.S. pricing will follow suit.
Why It Matters: The Ioniq 5 refresh comes in the wake of&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/24/02/37174589/south-koreas-answer-to-teslas-model-y-byd-dominance-a-new-ev-policy-that-favors-hyundai-kia" rel="noreferrer noopener">a new EV policy</a>&nbsp;introduced by the South Korean government aimed at supporting domestic automakers Hyundai and Kia while addressing competition from Tesla&#8217;s Model Y and BYD Co.
Furthermore, the Ioniq 5&#8217;s refresh aligns with Hyundai&#8217;s strategy to expand its EV lineup and compete with major players like Tesla and Volkswagen. Hyundai has plans to launch an&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/36948224/watch-out-tesla-volkswagen-asian-rival-to-launch-21k-crossover-ev-with-190-mile-range-in-europe" rel="noreferrer noopener">electric version of its Casper</a>&nbsp;mini SUV in Europe, further solidifying its position in the global EV market.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37448482/tesla-bull-wants-musks-company-to-think-about-how-apple-convinced-dumb-phone-users-" target="_blank" rel="noreferrer noopener">Tesla Bull Wants Musk&#8217;s Company To Think About How Apple Convinced Dumb Phone Users To Switch To iPhones</a>
Photo courtesy: Hyundai
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Hyundai's Tesla Model Y Challenger Just Got A Bigger Battery And A Whole Lot Of New Features In Refreshed Avatar

Bayerische Motoren Werke AG&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) unit BMW Manufacturing is <a href="https://www.prnewswire.com/news-releases/figure-announces-commercial-agreement-with-bmw-manufacturing-to-bring-general-purpose-robots-into-automotive-production-302036263.html" target="_blank" rel="noreferrer noopener">teaming</a> up with robotics startup Figure to deploy <a href="https://www.benzinga.com/tech" target="_blank" rel="noreferrer noopener">humanoid robots in its U.S. facility. </a>
Under the agreement, BMW Manufacturing and Figure will pursue a milestone-based approach.
In the first phase, Figure will identify initial use cases to apply the Figure robots in automotive production. Once the first phase has been completed, the Figure robots will begin staged deployment at BMW&#8217;s manufacturing facility in Spartanburg, South Carolina.
Beyond the deployment of humanoid robots in an automotive manufacturing environment, BMW Manufacturing and Figure jointly will explore advanced technology topics such as artificial intelligence, robot control, manufacturing virtualization, and robot integration.
As companies increasingly adopt human-like robots, BMW aims to leverage these advanced machines for specific physical tasks, Reuters reported.
Recently, Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) introduced Optimus Gen 2, its latest humanoid robot, as Elon Musk envisions a billion such robots <a href="https://www.benzinga.com/news/23/12/36209983/watch-teslas-next-gen-optimus-has-new-hands-capable-enough-to-handle-delicate-objects-like-eggs" target="_blank" rel="noreferrer noopener">worldwide by the 2040s.</a>
However, BMW&#8217;s partnership begins with a modest quantity, expanding based on performance achievements, says Figure CEO Brett Adcock, Reuters added.
On Tuesday, Tesla CEO&nbsp;Elon Musk&nbsp;expressed optimism that robots will build other robots one day. Terming it &#8216;inevitable,&#8217; the CEO said that robots will build robots one day&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36653643/tesla-ceo-elon-musk-says-robots-may-build-other-robots-one-day-but-optimus-cant-find-a-missing-sock" rel="noreferrer noopener">whether Tesla does it or not.</a>
The generation 2 version of the Optimus was unveiled in a video on X in December with better control of its hands enabling it to handle delicate objects like eggs.
Meanwhile, Automakers like&nbsp;Honda Motor Company, Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) and&nbsp;Hyundai Motor Co., Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMLF#OTC">HYMLF</a>) are also exploring humanoid robots for repetitive and hazardous tasks in assembly lines, enhancing efficiency and safety, Reuters added.
Investor interest surges in general-purpose humanoid robots with AI-driven capabilities for versatile movements and task learning, aiming to mimic human abilities, the report read.&nbsp;
Existing robots are task-specific, raising questions about the viability of adaptable robots in real-world scenarios, it added.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/01/36678631/metas-ai-magic-ad-returns-reportedly-soar-32-with-breakthrough-technology-boost" rel="noreferrer noopener">Meta&#8217;s AI Magic! Ad Returns Reportedly Soar 32% With Breakthrough Technology Boost</a>
Price Action: TSLA shares are trading lower by 2.5% to $210.15 on the last check Thursday. 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

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Tesla's Innovation Rivalry? BMW Inks Pact With Robotics Startup Figure To Deploy Humanoid Robots

Cyclone Michaung&#8217;s intense rain forced many manufacturers operating in industrial areas of Chennai to halt operations for two days, starting Monday. While operations are resuming, investors in stocks of companies manufacturing in that area would be wise <a href="https://in.benzinga.com/content/36084752/chennai-cyclone-halts-iphone-production-foxconn-and-pegatron-factories-affected">to take note</a>.
In the Sriperumbudur SIPCOT SEZ, which is home to large facilities, 60 out of 90 companies have resumed operations. The area houses Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) suppliers Foxconn Technology India Pvt. Ltd. and Salcomp Manufacturing India Pvt. Ltd. Foxconn is Apple&#8217;s main contractor for the production of a wide range of products, including iPhones and MacBooks. 
Salcomp is a supplier of chargers to Apple.
China&#8217;s Luxshare Precision Industry Co, which revived the now-defunct Motorola Solutions Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSI#NYSE">MSI</a>) factory in Sriperumbudur area, is also a supplier to Apple. Luxshare is Apple&#8217;s primary supplier for AirPods and could be an upcoming supplier for iPhones.
Eachangaranai, another area that houses another Apple supplier, Taiwanese Pegatron Corp. has also resumed activity.
Other companies bracing for impact include: 
<ul>
<li>Dell, Hyundai: Irungattukottai, which is home to <a href="https://www.deccanherald.com/india/tamil-nadu/industrial-parks-in-chennai-resume-operations-after-cyclone-michaung-says-tamil-nadu-government-2801571">206</a> businesses, including major electronics manufacturer Dell Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) and leading automaker Hyundai Motor Co (OTCPK: HYMLF) (OTCPK: HYMLY) (OTCPK: HYMPY) (OTCPK: HYMTF), <a href="https://www.thehindu.com/news/cities/chennai/downpour-forces-industrial-units-to-suspend-operations-in-chennai/article67605142.ece">have</a> resumed production since Wednesday.</li>
<li>Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>): One of the company&#8217;s largest factories worldwide is also located in the Sriperumbudur area in Chennai. The factory produces a wide range of telecom infrastructure equipment, including 4G and 5G networks. The production of seven million telecom units is a major milestone for Nokia&#8217;s Chennai plant.</li>
<li>Automotive Hub: With 110 out of 126 businesses resuming operations, the situation in the Oragadam SEZ was better. The area is another suburban automotive hub that is home to Daimler India, Renault SA (OTCPK: RNLSY)-Nissan Motor Co Ltd (OTCPK: NSANF), and Danfoss Industries.</li>
<li>Cisco Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>): The global technology giant is set to establish a manufacturing plant in Chennai, to produce networking equipment. The <a href="https://www.manufacturingtodayindia.com/sectors/cisco-to-establish-a-high-volume-manufacturing-plant-in-chennai-targeting-1-billion">move</a> is part of their strategy to diversify their global supply chain and achieve a target of $1 billion in combined domestic production and exports in the coming years. The manufacturing partner for Cisco in India is likely to be Flex India, located in the Oragadam.</li>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>): Indian PM Narendra Modi, has been in <a href="https://www.financialexpress.com/life/technology-pm-modi-discusses-googles-manufacturing-expansion-with-ceo-sundar-pichai-bkg-3275568/">talks</a> with Alphabet CEO Sundar Pichai to expand its electronics manufacturing capabilities in India. Google has partnered with Hewlett Packard Enterprise Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) for Chromebook manufacturing in India.</li>
</ul>
Read Next: <a href="https://www.benzinga.com//node/34966986">Google, HP Join Forces To Produce Affordable Chromebooks In India</a>

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Cyclone Michaung Affects Chennai Manufacturers: Investors In Apple, Google, Cisco, Dell And Nokia Take Note

Hyundai Motor Co., Ltd.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) unveiled&nbsp;<a class="editor-rtfLink" href="https://www.prnewswire.com/news-releases/hyundai-electric-vehicles-to-add-north-american-charging-standard-301948002.html" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">plans&nbsp;</a>to adopt&nbsp;Tesla, Inc.&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) electric vehicle charging technology&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34171033/hyundai-motor-jv-to-spend-2b-more-on-georgia-battery-plant" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">in the U.S. and Canada.</a>
&quot;Our collaboration with Tesla marks another milestone in our commitment to delivering exceptional EV experiences to our customers,&quot; said Jos&eacute; Mu&ntilde;oz, president and global COO of Hyundai Motor Company and president and CEO of Hyundai Motor North America.&nbsp;
This strategic move set to commence in the fourth quarter of 2024 for the U.S. and the first half of 2025 for Canada, will grant Hyundai EVs with North American Charging Standard (NACS) ports access to over 12,000 Tesla Superchargers spread across North America.
&quot;This new alliance will provide Hyundai EV owners confidence in their ability to conveniently charge their vehicles and complements our joint venture company to create a new, high-powered charging network with at least 30,000 stations across North America.&quot;
Compatibility and Accessibility
Hyundai&#39;s advanced Electric-Global Modular Platform (E-GMP) vehicles, including IONIQ 5 and IONIQ 6, along with the forthcoming IONIQ 7, are set to benefit immensely from Tesla&#39;s commitment to expanding its Supercharger network.
Owners of existing and future Hyundai EVs with the current CCS will have access to the Tesla Supercharging Network starting in Q1 2025.
Rebecca Tinucci, senior director of Charging at Tesla, highlighted that opening their Supercharging network to other electric vehicles aligns with Tesla&#39;s mission of accelerating the global transition to sustainable energy.
&quot;We&#39;re proud to welcome Hyundai as the latest adopter of the North American Charging Standard,&quot; Tinucci added.
In a move to bolster its electric vehicle battery raw material supply, Hyundai recently invested $400 million for a 5% stake in Korea Zinc. This strategic investment is aimed at securing a stable supply of essential materials required for EV battery production, underscoring&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/34112151/electrifying-move-hyundai-jv-invests-400m-for-5-stake-in-korea-zinc-bolstering-ev-battery-raw-ma" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Hyundai&#39;s commitment to the EV market.</a>&nbsp;
Price Action:&nbsp;TSLA shares are trading lower by 1.12% to $258.24 on the last check Thursday.&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Hyundai Joins The Club - The Latest Company To Gain Access Tesla Superchargers In North America

The <a href="https://www.benzinga.com/topic/nhtsa">National Highway Traffic Safety Administration</a> on Tuesday said it has made an initial decision that some air bag inflators manufactured by ARC Automotive and Delphi Automotive from 2000 through January 2018 must be recalled. 
When commanded to deploy, these inflators may rupture and eject metal debris into the passenger compartment, the NHTSA said. Within the United States, these rupturing airbag inflators have injured at least seven and killed one person. NHTSA is also aware of at least two cases of rupture outside the U.S., it added.
Inflators affected by the initial decision include 41 million inflators manufactured by ARC and the nearly 11 million manufactured by Delphi under an agreement with ARC, taking the total number to a whopping 52 million. 
These inflators have been incorporated into air bag modules of 12 vehicle manufacturers including BMW AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), Hyundai Motor Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMLF#OTC">HYMLF</a>), Kia Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KIMTF#OTC">KIMTF</a>), Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>), Mercedes-Benz Group AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGYY#OTC">MBGYY</a>), Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), and Volkswagen AG (OTCPK: VWAGY), NHTSA said. 
Initial Recall Request: Though the NHTSA requested ARC to initiate a recall for the inflators in April earlier this year, the company declined alleging that the agency lacks sufficient evidence of a safety defect. 
The company further minimized the seven confirmed ruptures as merely "occasional or isolated failures that are an inevitable part of any volume manufacturing process,&#8221; the NHTSA said. 
Delphi Automotive, meanwhile, no longer exists. It was acquired by Autoliv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALV#NYSE">ALV</a>) who may not have the legal liability for the inflators manufactured by Delphi. 
The NHTSA will now hold a public meeting at the Department of Transportation headquarters in Washington, D.C., on Oct.5 regarding the initial decision to force a recall. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/mobility" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/23/09/34260852/elon-musk-dismisses-tesla-mcdonalds-cyber-spoon-partnership-calls-it-fake-news">Elon Musk Dismisses Tesla-McDonald&#8217;s Cyber Spoon Partnership, Calls It &#8216;Fake News&#8217;</a>
Photo by thieury on Shutterstock

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Tesla, GM, Ford Among Automakers Hit As NHTSA Targets 52M Faulty Airbag Inflators

Hyundai Motor Co., Ltd.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymlf#OTC">HYMLF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) and&nbsp;LG Energy Solution&nbsp;(LGES) will invest an additional $2 billion in their battery cell manufacturing joint venture (JV) at the Metaplant in Bryan County.&nbsp;
The investment will raise the JV&rsquo;s total value to over $4.3 billion, according to a&nbsp;<a class="editor-rtfLink" href="https://gov.georgia.gov/press-releases/2023-08-31/gov-kemp-hyundai-motor-group-and-lg-energy-solution-invest-additional-2b" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">statement&nbsp;</a>from Georgia Governor Brian P. Kemp. This expansion will create another 400 new jobs.
The 30 GWh facility will be able to support the production of 300,000 units of EVs annually at entire operations.&nbsp;
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/34112151/electrifying-move-hyundai-jv-invests-400m-for-5-stake-in-korea-zinc-bolstering-ev-battery-raw-ma" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Electrifying Move: Hyundai JV Invests ~$400M For 5% Stake In Korea Zinc, Bolstering EV Battery Raw Material Supply</a>
Hyundai Mobis will assemble battery packs using cells from the plant and then supply them to the Hyundai Motor Group&rsquo;s U.S. manufacturing facilities to produce EV models.
&quot;This incremental investment in Bryan County reflects our continued commitment to create a more sustainable future powered by American workers,&rdquo; said Jos&eacute; Mu&ntilde;oz, president and global COO of Hyundai Motor Company and president and CEO of Hyundai and Genesis Motor North America.
Price Action:&nbsp;HYMTF shares closed lower by 0.27% to $38.16 on the last check Thursday.

Hyundai Motor JV To Spend $2B More On Georgia Battery Plant

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/08/34109954/cnn-gets-a-new-chief-can-former-new-york-times-exec-mark-thompson-help-cnn-ratings" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CNN Gets A New Chief - Can Former New York Times Exec Mark Thompson Help CNN Ratings?</a>
<ul>
<li>Warner Bros. Discovery&nbsp;Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wbd#NASDAQ">WBD</a>) reached a decision to appoint Mark Thompson, previously a senior executive at both the New York Times and the BBC, as the next leader of CNN.</li>
<li>Following a period of upheaval and changes in leadership, Thompson&#39;s appointment as CEO could be a strategic move to combat CNN&#39;s prolonged ratings decline.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/34112151/electrifying-move-hyundai-jv-invests-400m-for-5-stake-in-korea-zinc-bolstering-ev-battery-raw-ma" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Electrifying Move: Hyundai JV Invests ~$400M For 5% Stake In Korea Zinc, Bolstering EV Battery Raw Material Supply</a>
<ul>
<li>Hyundai Motor Co., Ltd.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/hymlf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">HYMLF</a>) inked a memorandum of understanding with Korea Zinc, aiming for a comprehensive collaboration across the nickel value chain in making electric car batteries.&nbsp;</li>
<li>As part of the collaboration, HMG Global, an overseas joint venture established collaboratively by Hyundai Motor,&nbsp;Kia Motors Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/kimtf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">KIMTF</a>), and Hyundai Mobis, plans to acquire a 5% stake in Korea Zinc for around $399 million.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/34108647/toyotas-july-production-sales-jump-on-strong-demand" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toyota&#39;s July Production &amp; Sales Jump On Strong Demand</a>
<ul>
<li>Toyota Motor Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>) said its total global production increased 10% in July to 918,347 vehicles, including subsidiaries&nbsp;Daihatsu Motor Co&nbsp;and&nbsp;Hino Motors Ltd.</li>
<li>Worldwide sales, including subsidiaries, grew 5.2% to 918,345 units.</li>
<li>For Toyota, July&#39;s global production rose 14.6% to 809,400 vehicles, and sales improved 7.8% to 859,506 vehicles.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/34108367/jetblue-spreads-its-wings-non-stop-new-york-to-amsterdam-flights-take-off" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">JetBlue Spreads Its Wings: Non-Stop New York To Amsterdam Flights Take Off</a>
<ul>
<li>JetBlue Airways Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jblu#NASDAQ">JBLU</a>) disclosed a new daily non-stop flight from New York to Amsterdam to boost its presence in the transatlantic region.</li>
<li>As an introductory offer, JetBlue offered limited roundtrip fares for U.S.-originating and Netherlands-originating travelers.</li>
<li>The move follows the airline&#39;s successful launch of London flights in August 2021 and Paris in June 2023.</li>
</ul>
&nbsp;
New York Post
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/08/34112502/humm-the-song-to-search-on-youtube-alphabet-rolls-out-hum-to-search-feature" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Humm The Song To Search on YouTube - Alphabet Rolls Out Hum-to-Search Feature</a>
<ul>
<li>Last week,&nbsp;Alphabet Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>)&nbsp;Google&nbsp;shared plans to trial a brand-new feature for a smoother song-searching experience on YouTube.</li>
<li>Android users can search for songs on&nbsp;YouTube&nbsp;by humming or singing under the new feature.</li>
<li>Users in the beta group can toggle the new feature from YouTube&#39;s voice search and &quot;hum or record the song you&#39;re searching for three or more seconds.&quot;</li>
</ul>
&nbsp;
Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/08/34108183/amazon-under-scrutiny-fda-highlights-unapproved-drug-sales-third-strike-in-a-year" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Under Scrutiny: FDA Highlights Unapproved Drug Sales, Third Strike in a Year</a>
<ul>
<li>The U.S. Food and Drug Administration slammed&nbsp;Amazon.Com Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) for listing &quot;unauthorized&quot; drugs on its platform.&nbsp;</li>
<li>In a letter to CEO Andy Jassy, the FDA highlighted the sale of medications to treat molluscum contagiosum, a skin lesion-causing condition.&nbsp;</li>
<li>The FDA identified Amazon&#39;s distribution of four such products via third-party sellers despite no sanctioned over-the-counter treatments for this condition.</li>
</ul>
&nbsp;
Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/23/08/34111606/us-steels-bid-review-buzz-evaluates-confidential-buyout-offers" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Steel&#39;s Bid Review Buzz: Evaluates Confidential Buyout Offers</a>
<ul>
<li>United States Steel Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/x#NYSE">X</a>) has reportedly engaged in confidentiality agreements with several interested parties and has begun sharing due diligence information.&nbsp;</li>
<li>This strategic move comes as U.S. Steel evaluates bids for the entire company or specific parts of its operations.</li>
<li>In a letter addressed to shareholders, Chief Executive David Burritt and Chairman David Sutherland highlighted the company&#39;s receipt of &quot;multiple unsolicited proposals.&quot;&nbsp;</li>
</ul>
&nbsp;
Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/34110808/walmarts-mixed-messages-wage-increases-followed-by-voluntary-pay-cuts-for-pharmacists" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Walmart&#39;s Mixed Messages: Wage Increases Followed by Voluntary Pay Cuts for Pharmacists</a>
<ul>
<li>Walmart Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>) is reportedly asking some of its 16,000 pharmacists across the U.S. to take voluntary pay reduction.</li>
<li>The company aims to lower costs by reducing the working hours.</li>
<li>Walmart said that the hours reduction reflects dropoff in demand for drugs during the summer and requests from pharmacists for a better work-life balance.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/23/08/34113275/burger-king-grilled-in-court-are-whoppers-really-35-smaller-than-advertised" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Burger King Grilled in Court: Are Whoppers Really 35% Smaller Than Advertised?</a>
<ul>
<li>A recent legal case involving Burger King has taken a significant turn as a U.S. District Judge, Roy Altman, rejected&nbsp;Burger King&#39;s&nbsp;attempt to dismiss a lawsuit alleging that the fast-food chain deceived customers by portraying its Whopper sandwich as larger than it truly is.</li>
<li>In the proposed class action, the customers accused Burger King of showcasing burgers on their menu with overflowing ingredients that create an illusion of being 35% larger and having more than double the meat content compared to what is actually served.</li>
<li>In his recent decision, Judge Altman also permitted the customers to pursue claims based on negligence and unjust enrichment.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/34109890/chevron-removes-staff-from-us-gulf-of-mexico-oil-platforms-amid-hurricane-idalia-concerns-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Chevron Removes Staff From US Gulf Of Mexico Oil Platforms Amid Hurricane Idalia Concerns</a>
<ul>
<li>Chevron Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>) has reportedly evacuated staff from three U.S. Gulf of Mexico oil production platforms to protect from Hurricane Idalia. Chevron removed all staff from its Genesis platform.</li>
<li>However, the company withdrew only the non-essential workers from its Blind Faith and Petronius platforms. Production was continuing at Chevron-operated Gulf of Mexico oil and gas facilities.</li>
</ul>
&nbsp;
Earnings
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/08/34110807/beaten-down-specialty-home-goods-retailer-conns-modifies-store-expansion-plans-for-fy24-after-mixed" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Beaten Down Specialty Home Goods Retailer Conn&#39;s Modifies Store Expansion Plans for FY24 After Mixed Q2 Performance</a>
<ul>
<li>Conn&#39;s Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/conn#NASDAQ">CONN</a>) reported a second-quarter FY24 revenue decline of 11.5% year-over-year to $306.9 million, missing the consensus of $308.2 million. Adjusted EPS loss of $(1.39) beat the consensus loss of $(1.53).</li>
<li>Retail revenues decreased by 12% Y/Y, primarily driven by a decrease in same-store sales.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/08/34108602/calvin-klein-parent-pvhs-q2-earnings-top-estimates-on-strong-asia-pacific-performance" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Calvin Klein Parent PVH&#39;s Q2 Earnings Top Estimates On Strong Asia Pacific Performance</a>
<ul>
<li>PVH Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pvh#NYSE">PVH</a>) reported second-quarter FY23 sales growth of 4% year-on-year to $2.21 billion, beating the analyst consensus of $2.19 billion.</li>
<li>The increase was driven by growth in the Tommy Hilfiger and Calvin Klein businesses and included strong performance in the company&#39;s international businesses, particularly in the Asia Pacific region.</li>
<li>Adjusted EPS of $1.98 beat the analyst consensus of $1.75.</li>
<li>Outlook: PVH continues to see FY23 revenue increase of 3%-4%.</li>
</ul>

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CNN Taps Former New York Times Exec Mark Thompson Help Ratings, YouTube Rolls Out Hum-to-Search Feature, Customers Allege Burger King Whoppers 35% Smaller Than Advertised: Today's Top Stories

Hyundai Motor Co., Ltd.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymlf#OTC">HYMLF</a>) inked a memorandum of understanding with Korea Zinc, aiming for a comprehensive&nbsp;<a class="editor-rtfLink" href="https://www.hyundai.com/worldwide/en/company/newsroom/hyundai-motor-group-partners-with-korea-zinc-on-value-chain-for-ev-business-0000017077" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">collaboration&nbsp;</a>across the nickel value chain in making electric car batteries.&nbsp;
As part of the collaboration, HMG Global, an overseas joint venture established collaboratively by Hyundai Motor,&nbsp;Kia Motors Corp.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/kimtf#OTC">KIMTF</a>), and Hyundai Mobis, plans to acquire a 5% stake in Korea Zinc for KRW527.2 billion (~$399 million).
The companies plan to work towards establishing a stable nickel supply chain, a critical raw material for EV batteries.&nbsp;
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/33552864/hyundai-kia-recall-over-91-000-vehicles-in-us-report" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Hyundai &amp; Kia Recall Over 91,000 Vehicles In US: Report</a>
The companies also plan to jointly purchase nickel raw materials and invest in mine development projects to source raw materials that meet IRA requirements.
Nickel supply from the partnership will commence in 2026.&nbsp;
In 2031, the Group intends to source 50% of the nickel needed to produce EV batteries from the partnership with Korea Zinc.
Hyundai Motor is also pursuing other global partnerships to secure key EV battery raw materials such as lithium.
Price Action:&nbsp;HYMTF shares closed 0.79% higher to $38.30 on Tuesday.

Electrifying Move: Hyundai JV Invests ~$400M For 5% Stake In Korea Zinc, Bolstering EV Battery Raw Material Supply

Korean automakers&nbsp;Hyundai Motor Co&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) and&nbsp;Kia Motors Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/kimtf#OTC">KIMTF</a>) reportedly disclosed the recall of over 91,000 newer vehicles in the U.S. due to the risk of the oil pumps catching fire.
The companies urged the car owners to park their vehicles outside and away from structures pending repairs, reported&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/autos-transportation/hyundai-kia-recall-91000-us-vehicles-over-fire-risks-urge-owners-park-outside-2023-08-03/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Reuters</a>.
Hyundai recalled models 2023-2024 Palisade, 2023 Tucson, Sonata, Elantra, and Kona vehicles, and Kia recalled 2023-2024 Seltos and 2023 Soul, Sportage cars.
The report cited the automakers stating that the electronic controllers for the Idle Stop &amp; Go oil pump assembly may contain damaged electrical components that can cause the pump to overheat.&nbsp;
The companies plan to notify owners in late September, and dealers are expected to inspect and replace the electric oil pump controller as needed.
Hyundai saw four cases of potentially related thermal events (no accidents or injuries), and Kia noted six such incidents, the report noted.
In April, U.S. Attorney Generals urged the National Highway Traffic Safety Administration to recall &quot;unsafe&quot; Hyundai and Kia vehicles<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/04/31931224/us-attorney-generals-seek-recall-of-kia-hyundai-vehicles-in-us" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;manufactured between 2011 and 2022</a>.&nbsp;
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/07/33214263/hyundais-kia-plans-200m-expansion-to-georgia-facility" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Hyundai&#39;s Kia Plans $200M Expansion To Georgia Facility</a>
Price Action: HYMTF shares traded lower by 1.57% at $39.52 on the last check Thursday.

Large Cap

Hyundai & Kia Recall Over 91,000 Vehicles In US: Report

<ul>
<li>Uber Technologies, Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uber#NYSE">UBER</a>) and Motional, the&nbsp;Hyundai Motor Co, Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymlf#OTC">HYMLF</a>) -&nbsp;Aptiv PLC&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aptv#NYSE">APTV</a>) joint venture focused on commercializing self-driving technology, launched a robotaxi service in Las Vegas.</li>
<li>The launch marks the first step in the companies&rsquo; 10-year plan to co-scale across major North American&nbsp;<a class="editor-rtfLink" href="https://motional.com/news/motional-launches-first-robotaxi-service-uber-network" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">cities</a>.</li>
<li>For the first time, Uber customers can hail an autonomous ride using Motional&rsquo;s all-electric Hyundai IONIQ 5-based robotaxis.&nbsp;</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/12/29918372/gms-cruises-goes-aggressive-on-robotaxi-dreams-as-others-retreat" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GM&rsquo;s Cruise&rsquo;s Goes Aggressive On Robotaxi Dreams As Others Retreat</a></li>
<li>Motional&rsquo;s new all-electric IONIQ 5 robotaxis will be available on UberX and Uber Comfort Electric in select markets.</li>
<li>Motional has already launched similar services in Las Vegas on both the&nbsp;Lyft, Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lyft#NASDAQ">LYFT</a>) and Via networks, TechCrunch&nbsp;<a class="editor-rtfLink" href="https://techcrunch.com/2022/12/07/uber-and-motional-launch-robotaxi-service-in-las-vegas/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reports</a>.</li>
<li>It comes a year after Motional and Uber partnered to test autonomous delivery in Santa Monica, California,&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29169058/motional-uber-collaborate-over-autonomous-ride-hailing-delivery" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">which is still ongoing</a>.</li>
<li>Riders can hail the robotaxis in &ldquo;high-traffic and popular destinations along the Las Vegas strip&rdquo; and will operate during daytime hours initially.</li>
<li>Motional and Uber hope to begin driverless operations in 2023.&nbsp;</li>
<li>Like Motional&rsquo;s other partnerships, the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28128740/robotaxi-market-gets-heated-up-as-amazon-unit-braces-for-debut" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">robotaxi&nbsp;</a>service with Uber will initially be free.</li>
<li>The partnership with Uber tracks onto Motional&rsquo;s strategy of tapping existing ride-share platforms.</li>
<li>Los Angeles will be Uber and Motional&rsquo;s second launch city &ldquo;at a later date,&rdquo; according to Motional.</li>
<li>Price Action:&nbsp;UBER shares traded lower by 1.62% at $26.48 on the last check Wednesday</li>
<li>Photo: Uber Prototype Autonomous vehicle in SF via Wikimedia Commons</li>
</ul>

LYFT

UBER

Uber And Motional Tap Las Vegas For Their Collaborative Robotaxi Debut

<ul>
<li>Motional, a global driverless technology company, and&nbsp;Uber Technologies Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uber#NYSE">UBER</a>) forged a commercial agreement to offer fully driverless rides using Motional&#39;s new all-electric&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/10/n29166318/motional-and-uber-announce-industry-leading-multimarket-commercial-agreement-for-autonomous-ride-h" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">IONIQ 5-based robotaxis</a>.</li>
<li>Motional is an autonomous driving joint venture between&nbsp;Hyundai Motor Co, Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymlf#OTC">HYMLF</a>) and&nbsp;Aptiv Plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aptv#NYSE">APTV</a>).</li>
<li>The 10-year, multimarket agreement creates the opportunity for effective scaling and broad adoption of AVs by pairing Motional&#39;s advanced driverless technology with Uber&#39;s network of millions of customers.&nbsp;</li>
<li>&quot;This agreement will be instrumental to the wide-scale adoption of robotaxis,&quot; Motional CEO Karl Iagnemma said.</li>
<li>The companies will strategically deploy the service in cities across the U.S., with the first trips expected to start later this year.&nbsp;</li>
<li>Motional is ready to become the first AV company to offer delivery and ride-hail services within a major network like Uber.&nbsp;</li>
<li>The new agreement also enables further expansion of Motional&#39;s AVs for delivery with Uber Eats.</li>
<li>In September, Uber forged a multi-year partnership with leading autonomous vehicle company, Nuro to use the latter&#39;s autonomous, electric vehicles for food deliveries in the U.S.</li>
<li>Related:<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28795588/uber-forges-ev-food-delivery-partnership-with-nuro" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;Uber Forges EV Food Delivery Partnership With Nuro</a></li>
<li>Price Action:&nbsp;UBER shares traded lower by 2.36% at $29.87 on the last check Thursday.</li>
</ul>

Contracts

Motional, Uber Collaborate Over Autonomous Ride-Hailing Delivery

<ul>
<li>SoundHound Inc&nbsp;(NASDAQ: SOUN)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/11/b24117575/soundhound-inc-global-leader-in-voice-ai-technology-to-become-publicly-traded-through-proposed-mer" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">aims to go public</a>&nbsp;via a special purpose acquisition company (<a class="editor-rtfLink" href="https://www.benzinga.com/topic/spacs" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SPAC</a>) merger with&nbsp;Archimedes Tech SPAC Partners Co&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atspt#NASDAQ">ATSPT</a>), valued at $2.1 billion.</li>
<li>Enterprise software firm&nbsp;Oracle Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/orcl#NYSE">ORCL</a>), Koch Industries, MKaNN Ventures, and others participated in the private investment in public equity (PIPE) round.</li>
<li>SoundHound will list on the Nasdaq under the ticker symbol &quot;SOUN.&quot;</li>
<li>The deal will provide SoundHound with proceeds of $244 million, consisting of a $111 million private placement in public equity and about $133 million from the SPAC IPO.</li>
<li>SoundHound would utilize the proceeds to expand its platform and enter new markets globally.</li>
<li>SoundHound developed a voice artificial intelligence platform to help businesses integrate conversational voice assistants into their products.&nbsp;</li>
<li>The company counts&nbsp;Hyundai Motor Co&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymlf#OTC">HYMLF</a>), Mercedes-Benz,&nbsp;Mastercard Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ma#NYSE">MA</a>), and&nbsp;Snap Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>) among its customers.</li>
<li>SundHound&#39;s technology is available in 22 languages, with further additions planned shortly. It also offers clients tools to analyze customer usage and behavior, which they can then use to improve the voice experience for their products.</li>
<li>Price Action:&nbsp;ATSPT shares traded higher by 1.53% at $9.97 in the premarket session on the last check Tuesday.</li>
</ul>

IPOs

ATSPT

ORCL

SNAP

AI Voice Platform SoundHound Aims To Go Public Via SPAC Merger Valued At $2.1B

<ul>
<li>LiveXLive Media Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/livx#NASDAQ">LIVX</a>) podcast platform, PodcastOne, has collaborated with&nbsp;Hyundai Motor Co&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/hymlf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">HYMLF</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/05/n21323929/podcastone-and-hyundai-create-vodcasts-to-raise-funds-for-independent-entertainment-venues" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">to produce three integrated</a>&nbsp;vodcasts with the best PodcastOne talent.</li>
<li>The vodcasts (video podcasts) were aimed to raise funds for National Independent Venue Association&rsquo;s (NIVA) grant program to help small, independent entertainment venues affected by the pandemic.</li>
<li>Price action:&nbsp;LIVX shares traded higher by 3.80% at $4.92 on the last check Thursday.</li>
</ul>

Small Cap

LIVX

PodcastOne, Hyundai Collaborate To Produce Vodcasts To Support Pandemic Inflicted Independent Entertainment Venues

<ul>
<li>Hyundai Motor Co&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/hymlf#OTC" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">HYMLF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/hymly#OTC" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">HYMLY</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/hymof#OTC" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">HYMOF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/hympf#OTC" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">HYMPF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/hympy#OTC" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">HYMPY</a>) will replace battery systems in close to 82,000 electric vehicles globally due to fire risks leading to a product recall,&nbsp;<a class="editor-rtfLink" href="http://www.reuters.com/article/us-hyundai-motor-electric-recall/hyundai-motor-to-replace-battery-systems-in-costly-electric-car-recall-idUSKBN2AO0JS" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">Reuters reports</a>. The product recalls (including one earlier) recall could cost around $900 million to the company.</li>
<li>The majority of the latest recall applied to its popular electric car, the Kona EV, since October over a software upgrade after a series of fires. The recent recall includes around 76,000 Kona EVs and some Ioniq EV and Elec City models.</li>
<li>South Korean authorities initiated an investigation to judge the first recall&rsquo;s adequacy as one of the recalled vehicles caught fire.</li>
<li>LG Chem Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/lgclf#OTC" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">LGCLF</a>) division LG Energy Solution responsible for the battery manufacture blamed Hyundai for the mishandling of LG&rsquo;s suggestion regarding fast-charging logic in Hyundai&rsquo;s battery management system. They also added that the battery cell should not be considered as the primary reason behind the fire.</li>
<li>Reuters notes that the recall is one of the first mass battery pack replacements conducted by a major automaker. How Hyundai and LG handle the recall could set a precedent not only in South Korea but globally.</li>
<li>There have been reported around 15 instances of fires involving the Kona EV - 11 in South Korea, two in Canada, and one each in Finland and Austria.</li>
<li>The first recall accounted for 38.9 billion won out of the total 1 trillion won in estimated recall costs ($1 is equivalent to 1,111.7900 won).</li>
<li>Price action:&nbsp;HYMLF shares closed at $89 on Tuesday.</li>
<li>Image Courtesy: Wikimedia</li>
<li>Click <a href="https://www.benzinga.com/electric-vehicles">here</a> to check out Benzinga&#39;s EV Hub for the latest electric vehicles news.</li>
</ul>

HYUNDAI MOTOR CO 2ND PFD by Hyundai Motor Co., Ltd.

HYMOF

HYMPF

LGCLF

Hyundai To Replace 82,000 EV Battery Systems In Expensive Recall: Reuters

Astronauts on board the SpaceX Dragon capsule approach the International Space Station on May 31st (photo via&nbsp;<a href="https://twitter.com/SpaceX/status/1267086597507301378?s=20" rel="nofollow">SpaceX</a>).
At the end of May, Elon Musk&#39;s SpaceX sent two astronauts into space - the first manned launch from U.S. soil in nine years. Also at the end of May, Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) made our list of top ten names. Since then, the stock is up 256%.&nbsp;
<a href="https://static.seekingalpha.com/uploads/2020/11/26/131469-16063676474650471_origin.png" rel="lightbox"><img alt="" src="https://static.seekingalpha.com/uploads/2020/11/26/131469-16063676474650471.png" /></a>
Our system is still bullish on Tesla. Our analysis of total returns and options market sentiment put Tesla in the top ten again on Wednesday. It was the only name from the May 28th top names cohort to appear in the November 25th cohort. Others, however, have suggested Tesla&#39;s valuation may have gotten ahead of itself.&nbsp;
Rajesh Sawhney noted that Tesla&#39;s market cap is greater than that of Mercedes (Pink: <a class="ticker" href="https://www.benzinga.com/stock/ddaif#Pink">DDAIF</a>), Subaru, Ford Motor Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>), Fiat Chrysler Automobiles (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fcau#NYSE">FCAU</a>), BMW (PInk: <a class="ticker" href="https://www.benzinga.com/stock/bmwyy#PInk">BMWYY</a>), Nissan (Pink: <a class="ticker" href="https://www.benzinga.com/stock/nsany#Pink">NSANY</a>), Mazda (Pink: <a class="ticker" href="https://www.benzinga.com/stock/mzdaf#Pink">MZDAF</a>), Hyundai (Pink: <a class="ticker" href="https://www.benzinga.com/stock/hymlf#Pink">HYMLF</a>), and Aston Martin (Pink: <a class="ticker" href="https://www.benzinga.com/stock/amgdf#Pink">AMGDF</a>) combined.&nbsp;
<iframe height="866" src="https://seekingalpha.com/embed/12157" width="550"></iframe>
Bloomberg&#39;s Joe Wiesenthal noted that Elon Musk is now richer than Bill Gates.&nbsp;
<iframe height="470" src="https://seekingalpha.com/embed/12156" width="550"></iframe>
Wiesenthal also suggested that Tesla&#39;s spike was a bubble driven by desperate speculators.&nbsp;
<iframe height="366" src="https://seekingalpha.com/embed/12155" width="550"></iframe>
Maybe It&#39;s Worth Hedging Here
Even if you&#39;re bullish on Tesla, it might make sense to hedge here, in the event the stock corrects in the near term (as it did earlier this year). Here&#39;s one way to do that.&nbsp;
Crash Protection For Tesla
I tried hedging 100 shares of Tesla against a greater-than-20% decline over the next several months two ways: ones with optimal puts (uncapped upside) and once with an optimal collar (capped upside).
Uncapped Upside - Unavailable
On Wednesday, if you scanned for an optimal put to hedge Tesla against a &gt;20% drop over the next 6 months, you would have gotten this error message.
<img alt="" src="https://static.seekingalpha.com/uploads/2020/11/26/131469-16063745029941754.jpg" style="height:588px; width:340px" />
Screen capture via the&nbsp;<a href="https://portfolioarmor.com/" rel="nofollow">Portfolio Armor</a>&nbsp;iPhone app.
What &quot;net cost exceeds threshold&quot; means is that the cost of hedging against a &gt;20% decline was more than 20% of your position value. So, by buying that hedge, you would have incurred more than the loss you were looking to prevent.
Capped Upside, Negative Cost
If you were willing to cap your possible upside in Tesla at 38% over the next six months, this was the optimal collar to protect against a &gt;20% decline over the same time frame.
<img alt="" src="https://static.seekingalpha.com/uploads/2020/11/26/131469-16063744053747678.jpg" style="height:459px; width:340px" /><img alt="" src="https://static.seekingalpha.com/uploads/2020/11/26/131469-1606374419788117.jpg" style="height:399px; width:340px" />
Here the net cost was negative, meaning you would have collected a net credit of $425, or 0.74% of position value, when opening this hedge, assuming, conservatively, that you bought the puts and sold the calls at the worst ends of their respective spreads. That worked out to an annualized cost as a percentage of position value of -1.32%.
When Tesla Pulls Back
If Tesla pulls back within the next few months, you&#39;ll be able to buy-to-close the call leg on the collar above for a lot less than you got for selling it, and you&#39;ll be able to sell the puts for a lot more. If you&#39;re still bullish on Tesla then, you sell those appreciated puts to buy more shares.

Opinion

AMGDF

DDAIF

FCAU

MZDAF

NSANY

Tesla's Up 256% Since It Appeared On Our Top Ten Names In May: Now Is A Good Time To Hedge It.

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Since its inception, SoundHound AI ($SOUN) has evolved from a simple song search tool to a major player in the AI industry. This bold move to diver...

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