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Amazon Ends Speedy Delivery by Kia Soul in Favor of Gig Workers
Amazon Ends Speedy Delivery by Kia Soul in Favor of Gig Workers

Bloomberg

time20-06-2025

  • Automotive
  • Bloomberg

Amazon Ends Speedy Delivery by Kia Soul in Favor of Gig Workers

Inc. is ending an experiment that saw drivers in Kia Souls make same-day deliveries and will rely on its network of gig-economy workers instead. In the test, Amazon contract delivery firms in several US states deployed drivers for four- or five-hours shifts in the boxy little Kia Corp. hatchbacks. The trial, which began to roll out in 2023, gave the world's largest online retailer more control over deliveries. If widely deployed, it also could have reduced the company's reliance on Amazon Flex drivers, who use their own cars to ferry orders to customers' homes. Those gig workers will now pick up the affected routes.

Hyundai has rare earths stockpile for its cars that can last a year, source says
Hyundai has rare earths stockpile for its cars that can last a year, source says

News24

time10-06-2025

  • Automotive
  • News24

Hyundai has rare earths stockpile for its cars that can last a year, source says

Hyundai Motor has a rare earths stockpile that can last about a year and it does not expect any near-term impact from global supply chain disruptions caused by China's export curbs, said a person who attended a company investor call. China's decision in April to restrict exports of a wide range of rare earths and related magnets has tripped up the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. The stockpiling by Hyundai, the world's number 3 automaker along with its affiliate Kia Corp, indicates it is better-placed than many competitors to withstand restrictions that have already impacted production of the supplier network of companies including Ford and BMW. A Hyundai investor relations official said the South Korean automaker had "far more wiggle room" than rivals with regard to rare earths-related supply chain issues affecting the industry, according to the attendee on the investor call, which was not open to the public. The official told investors Hyundai's efforts to diversify supply chains and improve procurement had succeeded and the company expected to be able to produce electric vehicles or hybrid cars without disruptions "for at least about one year," the attendee said. Hyundai also significantly boosted its rare earths inventories during a recent period when China had slightly relaxed its export restrictions, the official said, according to the attendee who spoke on condition of anonymity because the call was private. The South Korean automaker's stockpile of the key minerals had not been reported previously. It was not clear whether the inventory was solely stockpiled by Hyundai and its affiliate Kia or also included stocks held by their suppliers. In a statement to Reuters, Hyundai declined to comment on specific inventory details or procurement strategies. "We continuously evaluate market conditions to ensure operational stability and maintain a diversified global supply chain," Hyundai said. "As part of our standard business practices, we maintain appropriate inventory levels to support uninterrupted production." China produces around 90% of the world's rare earths, which are essential for the production of vehicles, especially electric vehicle motors. Hyundai Motor Group also holds about a one-year inventory of rare earths-related magnets needed for its mainstay EVs and hybrid vehicles, said a person familiar with the matter, declining to be named due to the sensitivity of the subject. China's dominance of the critical mineral industry is increasingly viewed as a key point of leverage for Beijing in the trade war sparked by US President Donald Trump's tariffs. US-China trade talks were set to extend to a second day in London on Tuesday as top economic officials from the world's two largest economies sought to defuse a bitter dispute that has widened from tariffs to restrictions over rare earths.

Hyundai Motor has a rare earths stockpile that can last about a year, source says
Hyundai Motor has a rare earths stockpile that can last about a year, source says

Time of India

time10-06-2025

  • Automotive
  • Time of India

Hyundai Motor has a rare earths stockpile that can last about a year, source says

Hyundai Motor has a rare earths stockpile that can last about a year and it does not expect any near-term impact from global supply chain disruptions caused by China's export curbs, said a person who attended a company investor call. China's decision in April to restrict exports of a wide range of rare earths and related magnets has tripped up the supply chains central to automakers , aerospace manufacturers, semiconductor companies and military contractors around the world. The stockpiling by Hyundai, the world's No.3 automaker along with its affiliate Kia Corp , indicates it is better-placed than many competitors to withstand restrictions that have already impacted production or the supplier network of companies including Ford and BMW. A Hyundai investor relations official said the South Korean automaker had "far more wiggle room" than rivals with regard to rare earths-related supply chain issues affecting the industry, according to the attendee on the investor call, which was not open to the public. The official told investors Hyundai's efforts to diversify supply chains and improve procurement had succeeded and the company expected to be able to produce electric vehicles or hybrid cars without disruptions "for at least about one year," the attendee said. Hyundai also significantly boosted its rare earths inventories during a recent period when China had slightly relaxed its export restrictions, the official said, according to the attendee who spoke on condition of anonymity because the call was private. The South Korean automaker's stockpile of the key minerals had not been reported previously. It was not clear whether the inventory was solely stockpiled by Hyundai and its affiliate Kia or also included stocks held by their suppliers. In a statement to Reuters, Hyundai declined to comment on specific inventory details or procurement strategies. "We continuously evaluate market conditions to ensure operational stability and maintain a diversified global supply chain ," Hyundai said. "As part of our standard business practices, we maintain appropriate inventory levels to support uninterrupted production." China produces around 90% of the world's rare earths, which are essential for the production of vehicles, especially electric vehicle motors. Hyundai Motor Group also holds about a one-year inventory of rare earths-related magnets needed for its mainstay EVs and hybrid vehicles, said a person familiar with the matter, declining to be named due to the sensitivity of the subject. China's dominance of the critical mineral industry is increasingly viewed as a key point of leverage for Beijing in the trade war sparked by U.S. President Donald Trump's tariffs. U.S.-China trade talks were set to extend to a second day in London on Tuesday as top economic officials from the world's two largest economies sought to defuse a bitter dispute that has widened from tariffs to restrictions over rare earths.

Hyundai has a rare earths stockpile that can last about a year
Hyundai has a rare earths stockpile that can last about a year

TimesLIVE

time10-06-2025

  • Automotive
  • TimesLIVE

Hyundai has a rare earths stockpile that can last about a year

Hyundai Motor has a rare earths stockpile that can last about a year and it does not expect any short-term impact from global supply chain disruptions caused by China's export curbs, said a person who attended a company investor call. China's decision in April to restrict exports of a wide range of rare earths and related magnets has tripped up supply chains central to carmakers, aerospace manufacturers, semiconductor companies and military contractors around the world. The stockpiling by Hyundai, the world's No 3 carmaker with its affiliate Kia Corp, indicates it is better placed than many competitors to withstand restrictions that have already affected production or the supplier network of companies including Ford and BMW. A Hyundai investor relations official said the South Korean carmaker had 'far more wiggle room' than rivals with regard to rare earths-related supply chain issues affecting the industry, according to the attendee on the investor call, which was not open to the public. The official told investors Hyundai's efforts to diversify supply chains and improve procurement had succeeded and the company expected to be able to produce electric vehicles (EVs) or hybrid cars without disruptions 'for at least about one year'. Hyundai also significantly boosted its rare earths inventories during a recent period when China had slightly relaxed its export restrictions, the official said, according to the attendee who spoke on condition of anonymity because the call was private.

Hyundai Motor has a rare earths stockpile that can last about a year, source says
Hyundai Motor has a rare earths stockpile that can last about a year, source says

Business Recorder

time10-06-2025

  • Automotive
  • Business Recorder

Hyundai Motor has a rare earths stockpile that can last about a year, source says

SEOUL: Hyundai Motor has a rare earths stockpile that can last about a year and it does not expect any near-term impact from global supply chain disruptions caused by China's export curbs, said a person who attended a company investor call. China's decision in April to restrict exports of a wide range of rare earths and related magnets has tripped up the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. The stockpiling by Hyundai, the world's No.3 automaker along with its affiliate Kia Corp, indicates it is better-placed than many competitors to withstand restrictions that have already impacted production or the supplier network of companies including Ford and BMW. A Hyundai investor relations official said the South Korean automaker had 'far more wiggle room' than rivals with regard to rare earths-related supply chain issues affecting the industry, according to the attendee on the investor call, which was not open to the public. The official told investors Hyundai's efforts to diversify supply chains and improve procurement had succeeded and the company expected to be able to produce electric vehicles or hybrid cars without disruptions 'for at least about one year,' the attendee said. Hyundai also significantly boosted its rare earths inventories during a recent period when China had slightly relaxed its export restrictions, the official said, according to the attendee who spoke on condition of anonymity because the call was private. The South Korean automaker's stockpile of the key minerals had not been reported previously. It was not clear whether the inventory was solely stockpiled by Hyundai and its affiliate Kia or also included stocks held by their suppliers. In a statement to Reuters, Hyundai declined to comment on specific inventory details or procurement strategies. 'We continuously evaluate market conditions to ensure operational stability and maintain a diversified global supply chain,' Hyundai said. 'As part of our standard business practices, we maintain appropriate inventory levels to support uninterrupted production.' China produces around 90% of the world's rare earths, which are essential for the production of vehicles, especially electric vehicle motors. Hyundai India aims for 7%-8% annual exports growth after quarterly profit beat Hyundai Motor Group also holds about a one-year inventory of rare earths-related magnets needed for its mainstay EVs and hybrid vehicles, said a person familiar with the matter, declining to be named due to the sensitivity of the subject. China's dominance of the critical mineral industry is increasingly viewed as a key point of leverage for Beijing in the trade war sparked by US President Donald Trump's tariffs. US-China trade talks were set to extend to a second day in London on Tuesday as top economic officials from the world's two largest economies sought to defuse a bitter dispute that has widened from tariffs to restrictions over rare earths.

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