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On July 31st, Samsung Electronics announced that HBM3E supply growth will outpace demand, predicting a shift in supply and demand. This could also impact market prices in the short term. Industry insiders noted that Samsung has proposed price reductions for HBM3E to clients to encourage commercial collaboration.July 31st: Today, at the 23rd (expanded) meeting of the 16th Standing Committee of the Municipal Peoples Congress, Gong Zheng stated that we will vigorously develop digital consumption and self-entertainment consumption, and actively develop the initial public offering economy, the silver economy, and the cruise economy. Self-entertainment consumption is a new trend in consumption. We support the development of original IP and vigorously promote "IP + consumption." We will encourage the healthy development of the two-dimensional economy. We will focus on strengthening the leading role of enterprises in scientific and technological innovation. The focus will be on strengthening the deep integration of industry, academia, and research led by enterprises, supporting enterprises to take the lead in forming systematic, task-oriented innovation consortia, and continuously promoting cutting-edge technology and innovative industries. Gong Zheng stated that we will vigorously cultivate and train a team of entrepreneurs, focusing on building a gradient cultivation system of "technology-based SMEs - specialized, innovative, and hidden champion enterprises - high-growth enterprises - and technology-leading enterprises." We strive to have approximately 20,000 specialized, innovative, and hidden champion SMEs in the city by 2030.European Commission President Ursula von der Leyen: Ukrainian President Zelenskys signing of the law restoring the independence of the Ukrainian Anti-Corruption Bureau and the Office of the Specialized Anti-Corruption Prosecutor is a welcome step.The South African Reserve Bank cut interest rates by 25 basis points, in line with market expectations.South Africas repurchase rate was 7% as of July 31, in line with expectations of 7.00% and the previous value of 7.25%.

Hyundai Motor will develop South Korea's first EV-specific plant

Charlie Brooks

Jul 12, 2022 11:05



Hyundai Motor Co. plans to construct its first dedicated electric vehicle (EV) manufacturing facility in South Korea by 2025, according to the automaker's union, which cited the company's CEO.


Hyundai Motor Group, which consists of Hyundai Motor and Kia Corp, announced in May its aim to invest 48.07 billion dollars in South Korea between now and 2025.


Hyundai Motor was unable to quickly comment. According to a statement published by the union, the promise was made by the company during ongoing salary negotiations.


This month, unionized Hyundai Motor employees in South Korea voted for a potential strike for the first time in four years in reaction to management's emphasis on foreign investment and salary increases.


The announcement comes after South Korea's largest automaker said in May that it planned to invest $5.5 billion in Georgia to build complete EV and battery production facilities.


Hyundai Motor forecasts that construction on the EV facility in Georgia will begin in early 2023, with commercial production commencing in the first half of 2025.