Hyundai Rotem s commuter train shipped to Taiwan
The Hyundai Motor Group is in the final stages of talks to sell the loss-making rolling stock division of Hyundai Rotem Co. to Germany s Siemens AG which is seeking to gain a foothold in Asia.
Both Hyundai and Siemens had entered negotiations early last year on the rolling stock business carve-out, but have yet to fine-tune the terms and details, according to investment banking sources on Apr. 20.
Hyundai Motor is the top shareholder of Rotem with a 33.8% stake valued at around 1 trillion won ($900 million), including a management premium. The South Korean carmaker s planning and coordination division is spearheading the negotiations. The National Pension Service is Rotem s No.2 shareholder with a 5% stake.
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Hyundai Motor Group names new chief for mobility division
04/16/2021 9:10
SEOUL (Reuters) - Hyundai Motor Group said on Friday it has formed a new mobility division to launch more service models and named an outsider as its chief following his tenure with global tech giants such as Apple Inc and Microsoft.
Song Chang-hyeon will lead the newly established Transportation-as-a-Service (TaaS) division, which will oversee mobility business for Hyundai Motor Co and Kia Corp, the parent company said in a statement.
Besides working as an engineer with Apple and Microsoft, Song was the chief technology officer at South Korea s dominant web portal Naver, and also founded an autonomous transportation service startup, 42dot, which had Hyundai Motor and Kia as its early investors, according to the website.
Hibbing, MN, USA / 93.9 WTBX
Apr 16, 2021 2:13 AM
SEOUL (Reuters) - Hyundai Motor Group said on Friday it has formed a new mobility division to launch more service models and named an outsider as its chief following his tenure with global tech giants such as Apple Inc and Microsoft.
Song Chang-hyeon will lead the newly established Transportation-as-a-Service (TaaS) division, which will oversee mobility business for Hyundai Motor Co and Kia Corp, the parent company said in a statement.
Besides working as an engineer with Apple and Microsoft, Song was the chief technology officer at South Korea s dominant web portal Naver, and also founded an autonomous transportation service startup, 42dot, which had Hyundai Motor and Kia as its early investors, according to the website.