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Britain to build £500m port to cope with flood of cheap Chinese cars
Yahoo Finance· 2025-09-17 09:00
Group 1: Market Overview - The UK car import market is experiencing significant growth, with Chinese car shipments expected to surpass 100,000 units annually by 2026, accounting for nearly 20% of all cars imported or exported through Southampton [2] - The total value of UK car imports reached £44 billion, which is approximately 63% higher than the £28 billion worth of vehicles exported [3] Group 2: Company Developments - Associated British Ports (ABP) plans to invest £500 million in a new car terminal near Southampton to accommodate the increasing influx of electric vehicles from China [1] - ABP is nearing full capacity at its current vehicle terminal, which has 56,000 car storage spaces, and anticipates that an additional 6,000 spaces will be filled by next year [5][6] Group 3: Infrastructure Expansion - The proposed new terminal will include a multi-storey storage facility capable of housing tens of thousands of vehicles and a new jetty with berths for two specialist transporter ships, each with a capacity of 7,000 cars [6][7] - ABP aims to submit formal proposals for the new development in 2027 and hopes to secure planning permission by 2028 [7] Group 4: Global Context - China's rapid advancement in the electric vehicle sector has raised international concerns, with former US President Joe Biden labeling the influx of Chinese EVs as a national security threat, while the EU has imposed tariffs to protect local manufacturers [4]
PIF's Joint Venture with Hyundai Motor Company, Hyundai Motor Manufacturing Middle East, celebrates groundbreaking milestone
Prnewswire· 2025-05-14 23:30
Core Insights - Hyundai Motor Manufacturing Middle East (HMMME) has commenced construction of its manufacturing facility in King Abdullah Economic City, marking a significant development in Saudi Arabia's automotive industry [1][5] - The joint venture between the Public Investment Fund (PIF) and Hyundai aims to enhance local manufacturing capabilities and create skilled jobs in the region [5][7] Company Overview - HMMME is a joint venture with PIF holding a 70% stake and Hyundai holding 30% [4] - The facility will be Hyundai's first manufacturing plant in the Middle East, with an annual production target of 50,000 vehicles, including both internal combustion engine (ICE) and electric vehicles (EV) [4][6] Industry Impact - The establishment of HMMME is part of a broader initiative by PIF to position Saudi Arabia as a global player in the automotive sector, enhancing domestic manufacturing capabilities and infrastructure [7] - The new facility is expected to create thousands of jobs and facilitate knowledge transfer and skills development within the local workforce [5][6]
Is Ford a Millionaire Maker?
The Motley Fool· 2025-02-28 08:32
Let's face it. A winning outcome for many long-term investors is probably to generate incredible returns from the stocks they own. Perhaps getting to a $1 million portfolio is part of the plan.Some of the world's most dominant enterprises have surely done this for their shareholders. But investors might be wondering if a nearly 122-year-old Detroit car maker can get them to the promised land.Is Ford (F -1.90%) stock a millionaire maker? To answer that question, let's look at some key factors that can impact ...