carmakers

Shares in Hyundai Motor and its affiliate Kia plunged on Wednesday, as German authorities raided the carmakers' local offices over suspicions they had installed defeat devices on some of their combustion cars.On Wednesday, Hyundai plunged 5.7% to 175,500 won ($135.17), and Kia plummeted 6.1% to 76,900 won.Among other affiliates, auto parts maker Hyundai Mobis Co. fell 3.6% to 199,000 won, and logistics firm Hyundai Glovis Co. shed 1.1% to 183,000 won, reports Yonhap news agency.Hyundai confirmed the raid by German…

NEW DELHI: Singtel Friday said it has signed an agreement with Hyundai Motor Group (HMG) to deploy Singtel’s 5G network infrastructure solutions at the carmaker’s Hyundai Motor Group Innovation Centre in Singapore (HMGICS). The HMGICS, which also includes an electric vehicle (EV) facility, will leverage Singtel’s 5G campus network with mobile edge core solutions to enhance its high-precision quality control in manufacturing operations, an official statement said. Apart from introducing smart mobility solutions in areas…

Tesla's Model 3 at the Tesla store in Washington, D.C.Salwan Georges | The Washington Post | Getty ImagesAutomakers from Tesla to Rivian to Cadillac are hiking prices on their electric vehicles amid changing market conditions and rising commodity costs, specifically for key materials needed for EV batteries.Battery prices have been declining for years, but that may be about to change. One firm projects a sharp increase in demand for battery minerals over the next four years that could push the price of EV battery cells up…