Friday is a good day to look around at the economic implications of the week. Check out these bits of news with the market movements, and then check out the economic recap below. Whatever gets measured gets managed, but whatever gets tracked doesn’t sneak up on you and put extra weight on your back. It’s less snappy, but that doesn’t make it less true.
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Hyundai Motor is contemplating the addition of hybrid or plug-in hybrid vehicles at its $7.59 billion Georgia plant, alongside all-electric cars, due to the slower EV adoption and revised emissions regulations.
The brand also announced a $51 billion investment in South Korea to enhance electric vehicle production and new mobility solutions, signaling a robust commitment to electrification amidst industry-wide slowdowns.
These strategic investments want to capture more of the EV market while the rivals focus on hybrids and protecting short-term shareholder returns.
⚖️ At the time of writing, Hyundai Motor Co is unchanged in the market.
In February, Toyota Motor experienced a 7% decrease in global sales. Still well in the lead as the worldwide leader, here are the contributing details to the down month.
📉 At the time of writing, Toyota Motor Corp is down 0.14% in the market.
The more, the merrier, but the fewer, the more profitable? At least, that seems to be Ford and Porsche's reason for staying in the V8 game as competitors bail.
Mach-V (as in VROOOOM). Ford is making moves to dominate the American muscle car market with its V8-engine Mustang, following the discontinuation of competitors like the Chevrolet Camaro and Dodge Challenger. Ford is emphasizing the appeal of a traditional V8 amidst the industry's shift towards electric vehicles, with international markets bolstering Mustang sales.
EV8 (Environmentally friendly V8) Porsche is committed to advancing its V8 engine tech to meet Euro 7 standards. Porsche is preparing to adapt its V8 engines for stricter emissions without fully relying on hybrid technologies, aiming to maintain the emotive appeal of its performance cars even as it projects EVs to dominate its future sales.
📈 At the time of writing, Ford Motor Co is up 1.61% in the market, while Porsche AG is down 1.09% 📉
BYD has another cheap car, Xiaomi is in a price-cut battle with Tesla, and Xpeng is in Germany with the rest of the EU in sight.
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In case you are wondering, a V8 engine has eight cylinders. No, " V " is not in the word “cylinder.”
The “V” part refers to the cylinders' arrangement. They are in a V-shape, according to Google.
