Seoul, South Korea (AP) - Hyundai Motor said Thursday its fourth-quarter earnings rose a lower-than-expected 3 percent, hurt by weaker overseas sales, while its operating income slumped to its lowest level since 2010. South Korea’s largest automaker said its October-December net profit was 1.03 trillion won ($970 million) on sales of
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VW’s Scania backs Northvolt’s $5 billion Swedish battery plant
Northvolt's $5 billion electric-car battery plant Stockholm (Reuters) - Volkswagen-owned truckmaker Scania is to invest 10 million euros in a 4 billion euro ($5 billion) project to build Europe’s biggest battery cell plant in northern Sweden. Sweden’s Northvolt, whose CEO Peter Carlsson used to work for Tesla, is racing against rivals such as
Potholes ahead for Trump transportation, infrastructure plan
Washington (AP) - The Trump administration is preparing to unveil long-promised plans for roads, bridges and other infrastructure next month. But the plans will fall short of some of his ambitious goals. Trump told mayors this week he will unveil his plan after next week’s State of the Union address. He
Toyota South Africa recalls more than 700,000 vehicles
Cape Town (Reuters) - Japanese carmaker Toyota’s South African unit recalled more than 700,000 vehicles because of an issue with safety bags used in the cars, an official at Toyota South Africa said. “Toyota South Africa has initiated an immediate recall in excess of 700,000 vehicles across 10 models, including Lexus. This
Lufthansa leads Series A funding for online freight platform Fleet
Lufthansa Cargo led a US$10 million Series A round of financing in Fleet, an online freight platform startup, with participation from investors, including Hunt Technology Ventures and UPS. Fleet is an online marketplace that matches customers’ demand for freight services with available capacity provided by logistics companies, offering an alternative to
Milan train crash: Horrific rush-hour derailment in Italy – at least 4 dead, 100 injured
After crash, injured motorcyclist accuses robot-driven vehicle of ‘negligent driving’
A California motorcyclist has filed a lawsuit against General Motors, accusing one of the manufacturer’s robot-operated vehicles of “negligent driving.” Oscar Willhelm Nilsson claims he was traveling down a San Francisco street last month when a Cruise AV aborted a lane change and swerved into his lane. The car struck him, “knocking
A Shortage of Trucks Is Forcing Companies to Cut Shipments or Pay Up
Why Airfreight Traffic Is Up
Companies are shipping more items by plane to meet customers’ rising expectations for fast delivery, prompting a scramble for cargo space that has sent airfreight rates soaring and pushed Amazon into the airline business. Global airfreight traffic climbed almost 9% year-over-year in November, the start of the peak shipping season, and
Port Harcourt Airport remodelling contract may be terminated soon
Port-Harcourt - The Federal Government of Nigeria may terminate the contract it awarded for the remodelling of the domestic terminal of the Port Harcourt Airport in Rivers State, Minister of State for Aviation, Mr. Hadi Sirika has said. Sirika who spoke after a tour of the Port Harcourt Airport International yesterday