{"id":571895,"date":"2023-04-26T09:21:29","date_gmt":"2023-04-26T03:51:29","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=571895"},"modified":"2023-04-26T09:48:57","modified_gmt":"2023-04-26T04:18:57","slug":"hyundai-motor-bolsters-us-presence-with-5-billion-ev-battery-venture","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/hyundai-motor-bolsters-us-presence-with-5-billion-ev-battery-venture\/","title":{"rendered":"Hyundai Motor bolsters US presence with $5 billion EV battery venture"},"content":{"rendered":"<p>SEOUL (Reuters) -South Korea&#8217;s Hyundai Motor Co said on Tuesday it had finalised a $5 billion electric vehicle (EV) battery joint venture in the U.S., boosting electrification efforts in its largest market.<\/p>\n<p>Hyundai also reported its first-quarter net profit had more than doubled, exceeding expectations. Its shares rose as much as 5% to a seven-month high after the announcements, and as the automaker also initiated steps to improve shareholder returns.<\/p>\n<p>Hyundai and partner SK On, a battery unit of SK Innovation Co Ltd, will set up a new battery manufacturing plant in the state of Georgia, the companies said, formalising an earlier provisional agreement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SEOUL (Reuters) -South Korea&#8217;s Hyundai Motor Co said on Tuesday it had finalised a $5 billion electric vehicle (EV) battery joint venture in the U.S., boosting electrification efforts in its largest market. Hyundai also reported its first-quarter net profit had more than doubled, exceeding expectations. Its shares rose as much as 5% to a seven-month high after the announcements, and as the automaker also initiated steps to improve shareholder returns. Hyundai and partner SK On, a battery unit of SK Innovation Co Ltd, will set up a new battery manufacturing plant in the state of Georgia, the companies said, formalising [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-571895","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/571895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=571895"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/571895\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=571895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=571895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=571895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}