It should be two plants. increase in used vehicle export from Korea to other countries.Didn’t notice the article was already posted. So I’ll replace it with something else.
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I have read ther EVs coming out leases will not retain much value in Europe and Africa does not have infrastructure to absorb. Russia is building that infrastructure. than there is that environmental bonus that got cut in Germany and poorer Europe will have to export its production.
The board also decided to sell General Motors Co.'s plant in Saint Petersburg with an annual capacity of 100,000 units, which Hyundai Motor acquired in 2020.
At the same time, sky-high charter rates for car-carriers and depressed container freight levels made exporters turn to containers to move used cars, mainly to central Asia, as an alternative to direct shipping to Russia. This is despite the risk of damage.
Volumes out of Incheon in H1 23 included 26,009 units to Turkey, 13,898 to Kyrgyzstan, 10,598 to Tajikistan and 9,918 to Azerbaijan, respective increases of 181%, 384%, 270% and 549% on the same period last year.
Tesla and other face a setback in Germany as the coalition government in the country decided to abruptly end an “environmental bonus” this weekend. The government had earlier plans to phase out the subsidy by the end of the year, in response to a budget crisis it faces amid a tough economic environment.
What Happened: Against the backdrop of local media , Tesla’s Giga Berlin plant will shut down after Dec. 22 and will not reopen until Jan. 2, 2024. The shutdown might make it difficult for the company to hit the 1.8-million-unit annual production for the year.