BUSINESS
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Tesla's Q4 2023: Operating Margin Shrinks, But Net Profit Doubles Tesla announced financial results for the fourth quarter of 2023 on January 24, 2024. Operating income decreased 47% year-over-year to $2.064 billion, marking the fourth consecutive quarter of losses... -
Volkswagen Reveals Updated 8th Gen Golf with Cutting-Edge AI Chatbot Volkswagen has unveiled a partially facelifted model of the eighth-generation Golf on January 24, 2024... -
Xiaomi's Entry into Electric Cars: Lei Jun's Battle for Supremacy Lei Jun, founder of Chinese smartphone giant Xiaomi, has claimed that competition in the automotive industry will be winner-take-all, unlike other executives in China's electric vehicle sector. -
China's New Energy Vehicle Goal Reached Well Ahead of Schedule China is expected to meet its 50 percent new energy vehicle penetration target 10 years ahead of schedule, a Chinese government official said, China Daily reported on Jan. 22, 2024... -
Saudi Non-Oil Economy Records 20% Growth Since 2016 [TheGuru=Hong Sung-hwan] Saudi Arabia's non-oil industry is growing at a rapid pace. It is the result of actively promoting 'Vision 2030,' a mid- to long-term development plan to move away from an oil-centered economic structure. -
Disney's 100th Anniversary Collaboration: Hyundai-Honda-Vespa-Fiat [moreguru=hongseongil reporter] Global content company Walt Disney has collaborated with Hyundai Motor Co. to celebrate its 100th anniversary... -
South Korea Ranks 5th in 'Engineer Output per Capita Beating China [TheGuru=Sungil Hong] South Korea has surpassed China in the number of engineers produced per capita per year. However, the absolute number is about 10 times different... -
Hyundai Motor Group Introduces Active Air Skirt to Enhance Electric Vehicle Efficiency Hyundai Motor and Kia have developed an 'active air skirt' technology to improve the range and stability of electric vehicles. The technology minimizes drag at high speeds and effectively controls vortices around the vehicle's wheels... -
Tesla Recalls Nearly 200,000 U.S. Vehicles Due to Rearview Camera Issue Tesla 'Model Y' production line. [Photo: Tesla Korea][iNews24 reporter Beomyeol Yoo] Tesla is recalling 200,000 vehicles in the U.S. with rearview camera malfunctions... -
South Korea Worries About Economic Impact If Trump Returns to Office Sejong -
Chinese Automakers Could Outperform Global Rivals, Says Elon Musk AsiaToday Reporter Lee Jang-won = Tesla CEO Elon Musk warned on Sept. 24 (local time) that Chinese automakers will take down most other automakers in the world if there are no trade barriers... -
China's Great Wall Motors Starts Production of Electric Vehicles in Thailand China's Great Wall Motor announced on January 12, 2024 that the GWM Aura 03, also known as the GWM Aura Goodcat, has begun production at GWM's Rayong plant in Thailand... -
Tesla Faces Uncertain Future: Could it Lose its Place Among Tech Giants? [text] Tesla's fourth-quarter earnings in the U.S. were below expectations, and the outlook for the year is not good. As a result, Tesla may drop out of the 'Magnificent Seven'. Tesla's growth has been slowing due to slowing demand for electric vehicles and competition from Chinese EV makers... -
Oil Prices Rally as US Crude Reserves Shrink and China Fuels Demand The price of West Texas Intermediate (WTI) crude oil broke above $75 and hit a new high as US crude inventories fell. China's massive stimulus program and geopolitical risks are not yet reflected in prices. -
China's Electric Car Market Slump Drives Lithium Prices Down by 80% AsiaToday Sunmiri Reporter = Lithium prices have plunged 80% in a year due to sluggish demand for electric vehicles in China, prompting lithium producers to urgently cut supplies. -
Tesla Expects Significant Slowdown in Sales in 2024 Tesla released its Q4 2023 earnings and said it expects significantly lower growth in its automotive business in 2024... -
Volkswagen's ID.4 Secures IRS Tax Deduction in the United States Volkswagen has announced that all ID.4 models will be eligible for the IRA tax credit in the U.S. in 2024. The ID.4 with SK On battery components produced in the U.S. will be eligible for a federal tax credit of $7,500. ID... -
UK Car Production Skyrockets by 16.8% in 2023 The UK Society of Motor Manufacturers and Traders (SMMT) announced on January 25, 2024 that the number of vehicles produced in 2023 increased by 17% year-on-year to 951,117 units. This is the first time in seven years that production has surpassed the previous year's figure, despite supply chain disruptions caused by the coronavirus pandemic... -
Samsung Electronics Breaks Pre-Sale Record with the World's First AI Phone Samsung Electronics' Galaxy S24 series has set a new record for the most units sold in pre-sales in Korea, with 1.21 million units sold. The Galaxy S24 Ultra was the most popular, accounting for about 60% of sales, while Titanium Black and Marble Gray were the most popular colors... -
Hyundai Motor Group Records 450,000 Electric Vehicle Sales in 2023 Hyundai Motor Company sold 268,785 battery electric vehicles in 2023. That's 451,000 units, compared to Kia's 182,000. Hyundai's increase was driven by the Ioniq 5 and Ioniq 6...
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