China Industrial Profits Slump Signals Need for More Economic Stimulus 
Lloyds Banking Group to Close Invoice Factoring Business by End of 2025 
China’s Iron Ore Buyer Pressures Mining Giants as New Supply Shifts Market Power 
China’s Central Bank to Launch New Digital Yuan Management Framework from January 1 
Winter Storm Disrupts Northeast Travel as Snow and Ice Blanket New York, New Jersey 
Hyundai Recalls Over 51,000 Vehicles in the U.S. Due to Fire Risk From Trailer Wiring Issue 
BP’s Castrol Stake Sale Raises Debt Relief Hopes but Sparks Cash Flow Concerns 
Oil Prices Hold Steady in Asia as Geopolitical Tensions Support Market 
Hong Kong Home Prices Rise for Sixth Straight Month as Rate Cuts Lift Market Sentiment 
Asian Stocks Rally as Fed Rate Cut Bets Weigh on Dollar and Fuel Precious Metals Surge 
L&F Tesla Battery Supply Deal Value Drops Sharply Amid EV Market Slowdown 
Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance 
Boeing Secures Multi-Billion Dollar Defense Contracts for F-15IA Jets and E-4B Aircraft Support 
Royalty Pharma Stock Rises After Acquiring Full Evrysdi Royalty Rights from PTC Therapeutics 
U.S. Stock Index Futures Steady as Markets Await Fed Policy Clues in Holiday-Thinned Trade 
Gold Prices Ease After Record Highs as Dollar Firms, Broader Bullish Outlook Intact 
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.
