Hyundai Completes 25 Years In India; Has Sold Over 9 Million Cars Since Inception
Hyundai Completes 25 Years In India; Has Sold Over 9 Million Cars Since Inception
Hyundai is celebrating the completion of 25 years in the Indian market this year. Since it s inception, the company has sold over 9 million vehicles in the country, and as of 2020, it has exported over 3 million cars to about 88 countries, from India.
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Hyundai is the 2nd largest car manufacturer in India and also the largest exporter PVs in the country
Highlights
Hyundai Motor Company, was founded on May 6, 1996
Currently, Hyundai Motor India offers a total of 11 models in the country
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Nio Inc (NYSE: NIO) may be gearing up to make mass-market vehicles, the company’s CEO William Li suggested Sunday, as reported by Reuters.
What Happened: The Chinese automaker, which competes with the likes of Audi-maker
Volkswagen AG (OTC: VWAGY), Mercedes-Benz-parent
Daimler AG (OTC: DDAIF)
, and
Bayerische Motoren Werke AG (OTC: BMWYY), would launch mass-market vehicles under another marque, as per Li.
“As EV technologies advance and battery cost lowers, it is possible that we may enter the massive market, but definitely not with Nio brand,” said the CEO.
Why It Matters: Nio launched its first-ever sedan dubbed the ET7 over the weekend. The vehicle’s standard edition is priced at $69,185 before subsidies.
Apple CEO Tim Cook
If Apple is going to make a success of its car project, it has to target the US$230-billion luxury automobile market. Doing so may be the only way to keep investors happy. But displacing 125-year-old incumbents like Mercedes-Benz won’t be straightforward.
The iPhone maker has reignited efforts to build its own vehicle, though it’s at least five years away from production. Since the project started in 2014, Apple has undergone numerous false starts, laying off hundreds of staff in both 2016 and 2019, as costs ballooned and the focus shifted from electric vehicles to self-driving technology and back again. If CEO Tim Cook proceeds, he faces tough choices on how to enter a market with famously meagre profitability.
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