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December 3 - U.S. Treasury yields edged lower in afternoon Asian trading as investors adopted a cautious stance ahead of the release of ADP employment and ISM services data. "While services PMI data is almost ubiquitous, last months U.S. ISM survey will capture most of participants attention, especially after Mondays disappointing ISM manufacturing reading," said Michael Brown, an analyst at Pepperstone, in a report. According to Tradeweb, the two-year Treasury yield fell 1.6 basis points to 3.499%, while the 10-year Treasury yield fell 0.9 basis points to 4.078%.Estonian Foreign Minister: Neither Putin nor the United States can decide the fate of Europe.Estonian Foreign Minister: We do not know exactly how the negotiations between the United States and Moscow are progressing.Estonian Foreign Minister: Estonia will send troops if security guarantees to Ukraine include a peace force.December 3rd Futures News: 1. WTI crude oil futures trading volume was 632,371 lots, an increase of 57,604 lots from the previous trading day. Open interest was 1,914,990 lots, a decrease of 741 lots from the previous trading day. 2. Brent crude oil futures trading volume was 121,090 lots, an increase of 23,692 lots from the previous trading day. Open interest was 222,700 lots, a decrease of 26,788 lots from the previous trading day. 3. Natural gas futures trading volume was 577,531 lots, a decrease of 49,396 lots from the previous trading day. Open interest was 1,523,889 lots, an increase of 12,785 lots from the previous trading day.

Hyundai Motor will develop South Korea's first EV-specific plant

Charlie Brooks

Jul 12, 2022 11:05



Hyundai Motor Co. plans to construct its first dedicated electric vehicle (EV) manufacturing facility in South Korea by 2025, according to the automaker's union, which cited the company's CEO.


Hyundai Motor Group, which consists of Hyundai Motor and Kia Corp, announced in May its aim to invest 48.07 billion dollars in South Korea between now and 2025.


Hyundai Motor was unable to quickly comment. According to a statement published by the union, the promise was made by the company during ongoing salary negotiations.


This month, unionized Hyundai Motor employees in South Korea voted for a potential strike for the first time in four years in reaction to management's emphasis on foreign investment and salary increases.


The announcement comes after South Korea's largest automaker said in May that it planned to invest $5.5 billion in Georgia to build complete EV and battery production facilities.


Hyundai Motor forecasts that construction on the EV facility in Georgia will begin in early 2023, with commercial production commencing in the first half of 2025.


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