A setback is inevitable for Hyundai Motor's plan to make a bigger presence in China's fast-growing EV market.
According to industry sources on February 7, Beijing Hyundai recently decided to replace the batteries of the Sonata EV from LG Chem batteries to the batteries of Chinese firm Contemporary Amperex Technology Ltd.
Beijing Hyundai also decided to delay the date of launching the Sonata EV in China by about ten months to February 2018. The replacement of batteries requires a design change, which could take about one year to finish.
China's EV sales have been growing at an explosive pace, rising from 80,000 units in 2014 to 330,000 units in 2015 and 470,000 units in 2016. This year's EV sales are expected to reach 670,000.
The National Pension Service (NPS) will further increase the proportion of overseas investment to around 40% of its assets by end-2022 with a higher share of global equities, according to its mid-term asset allocation plan. The share of global investment&hellip
South Korea’s leading asset owners are planning to expand private debt investment this year in pursuit of medium risks and medium returns, setting their eyes on direct lending and mezzanine notes. In a recent poll of the country’s 20 institutional&hellip
Jae-Sang Kim, who had worked with National Pension Service’s (NPS) Chief Investment Officer Myoun-Wook Kang in asset management firms for several years, was appointed on May 24 to lead the global alternative investment division of the $500 billion pension fund. NPS&hellip