KPMG Australia Appoints John Sams as CEO Following Audit Leak Scandal 
Wistron Opens $700M Texas AI Factory to Build Nvidia Superchips in U.S. 
GM Q2 Earnings Beat Estimates as General Motors Raises 2026 Profit Outlook 
Morgan Stanley Downgrades Adobe, Workday as AI Transition Raises Growth Concerns 
Japan Yen Slides Past 163 as Middle East Tensions Lift US Dollar, Oil Prices 
Gold Price Holds Above $4,130 as Fed Rate Outlook and Middle East Tensions Support Safe-Haven Demand 
Chalco Shares Jump as Chinalco Plans Up to $300 Million Stake Increase 
India FMCG Q1 Earnings Preview: Higher Input Costs Likely to Weigh on Profit Margins 
Oil Prices Extend Four-Day Rally as U.S.-Iran Conflict and Red Sea Threats Raise Supply Fears 
Nike Shifts China Online Sales Strategy to Boost Brand and Fight Local Rivals 
Pakistan Seeks $10 Billion U.S. Exchange Stabilization Fund to Boost Forex Reserves 
Scandinavian Tobacco Group Sells BREAK and Moro Brands to Japan Tobacco for €176 Million 
IBM Q2 Earnings Miss Estimates as Software Growth Offsets Infrastructure Weakness 
US Dollar Pauses Rally as Middle East Tensions Support Safe-Haven Demand 
Alaska Air Q3 Outlook Misses Estimates as Higher Fuel Costs Weigh on Profit Forecast 
Gold Price Climbs Above $4,130 as Middle East Tensions Boost Safe-Haven Demand 
Hyundai Motor Co. will set up its first electric vehicle (EV)-dedicated manufacturing plant on the test driving site of its Ulsan plant.
According to South Korea's top automaker, the site was chosen as the best location due to the need to realize the layout of the new plant, including the application of new techniques.
As a result, existing facilities such as test tracks and solar power facilities will be relocated to other areas of the Ulsan plant.
To meet global EV market demand, Hyundai Motor plans to break ground on a dedicated EV plant in 2023, with mass production beginning in 2025.
Hyundai also intends to gradually promote the rebuilding of existing production lines in order to optimize production volume at its domestic plants.
Last month, Hyundai reached an agreement with its labor union to build an exclusive EV plant in the country. At the moment, the Ulsan plant is producing a variety of models, including the all-electric IONIQ 5, Kona EV, and Genesis EV.
