Hyundai officially files for ~$3 billion IPO in India

On June 16, 2024, Hyundai Motor Company confirmed that it officially filed for an initial pubic offering (IPO) in India estimated to raise nearly $3 billion.  The South Korean automaker has already submitted the “Draft Red Herring Prospectus (DRHP) to India securities market. The DRHP is a preliminary document for Hyundai’s IPO in India. It […]

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Stellantis executive departures have dealers concerned

Following the departure of four high-profile executives at Stellantis North America, some dealers are growing concerned about the company’s direction. Recent departures include those of Jeep North America Head Jim Morrison, who retired earlier this month, and Dodge Ram CEO and 32-year company veteran Tim Kuniskis, who also retired in May. Additionally, Jason Stoicevich left […]

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UAW President under investigation for retaliation tactics with other leaders

An independent federal monitor has opened an investigation into United Automotive Workers (UAW) President Shawn Fain, citing allegations of retaliation against other leaders at the union. In a filing dated June 10, federal court-appointed monitor Neil Barofsky said he opened an investigation into Fain in February, after the union’s secretary-treasurer alleged that the UAW President […]

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Rivian announces its latest round of salaried worker layoffs

Rivian has announced an additional round of layoffs for some salaried roles, after the company let go of a number of workers earlier this year. On Thursday, the electric vehicle (EV) maker said it would be getting rid of a “small number” of salary roles at the company, as reported by Central Illinois Proud. Rivian […]

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Lucid leads Tesla in EV tech by ‘a number of years,’ according to CEO

The lead executive from luxury electric vehicle (EV) manufacturer Lucid Motors says that his company is “a number of years ahead” of Tesla in terms of its technology, as stated during a recent interview. Lucid CEO Peter Rawlinson was interviewed in a video segment of Fox Business on Thursday, during which he said that Tesla […]

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