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Chipmaker ADI to buy rival Maxim for US$21bil

NEW YORK: Semiconductor maker Analog Devices Inc (ADI) said it would buy rival Maxim Integrated Products Inc for about US$21bil in the largest US deal this year, aimed at boosting its market share in automotive and 5G chipmaking.

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

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.