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Business

Hyundai, Kia to sell 1 million EVs

SEOUL: Hyundai Motor Group leader Euisun Chung said on Tuesday flagship Hyundai Motor and sister company Kia Motors aim to sell one million electric vehicles (EVs) in 2025, together targeting over 10% of global market share of EVs.

Business

Volkswagen-SAIC JV to revamp Shanghai plants to make Audi sedans

BEIJING: Volkswagen AG and its Chinese joint venture partner SAIC Motor plan to invest 4.13 billion yuan (US$590mil) to revamp their car plants in Shanghai to make new Audi sedans, according to a government document seen by Reuters.

Business

South Korea to spend US$95bil on green projects

SEOUL: South Korea has outlined a plan to spend 114.1 trillion won (US$94.6bil) on a “New Deal” to create jobs and help the economy recover from the coronavirus fallout, anchored in part by “green” investment in electric vehicles and hydrogen cars.

World

Former Fiat engineer aims to put the brakes on COVID

MILAN (Reuters) - Fifty years ago, he designed a braking system that helped reduce fatal car crashes. Now Mario Palazzetti has invented a device he hopes will curb the spread of COVID-19.