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An arrest warrant has been requested for the chief of Hankook Tire Technology on embezzlement and other charges, prosecutors said Monday.Chairman Cho Hyun-bum is suspected of having lent around 13 billion won ($10 million) from its affiliate Hankook Precision Works to Park Ji-hoon, chief of Hyundai Motor s parts supplier Leehan, despite the company s unsound financial conditions in 2020 and 2021. ....
South Africa's first ever Formula E race is taking place in Cape Town this weekend and TimesLIVE Motoring is attending the event with Jaguar TCS Racing. As such we enjoyed an exclusive behind the scenes look at the first free practice day and an opportunity to chat briefly to one of the team's drivers, Mitch Evans. From making the switch to electric and rubbing fenders to getting to grips with the new Gen 3 cars and visiting South Africa for the first time, the 28-year-old New Zealander shared some fascinating insights from his life in Formula E. ....
Korean tire companies have seen output heavily impacted by the ongoing truckers strike, according to company officials Thursday. Some have even begun transferring supplies from local factories to overseas production sites to cope with the logistics nightmare. Automakers are also increasingly concerned about production disruptions if the strike continues for a few more weeks. ....