By Kim Hyun-bin Hyundai Motor Group plans to draw $5.9 billion in reserve funds from its overseas subsidiaries to invest in the conversion of production facilities for electric vehicles (EVs) in Korea, according to company officials Monday. Known as “capital reshoring,” the move involves converting overseas income previously intended for foreign investment into domestic investment. […]

Nobody knows how much the People’s Liberation Army is spending on preparations for high tech warfare. For the first time the US, which spends $100 billion on research and development for national security purpose, can feel China breathing down its neck in terms of military technology. Today’s battlefield is no longer the same as the Pacific […]

Last year, production at American factories increased — and so did the production of factories themselves. According to data from the Census Bureau released last week, construction spending by US manufacturers more than doubled over the past year. For April 2023, the annual rate reached nearly $190 billion compared with $90 billion in June 2022, with […]

Canada scored a major victory earlier this year when German automaker Volkswagen announced that it was building a $14 billion battery plant for electric vehicles in St. Thomas, Ontario.  Slated to open in 2027, the Volkswagen EV battery factory will be the first of its kind in Canada. “With this historic project, we’re not just […]