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    Gold price up by Rs300 to Rs117,700 per tola

    Gold price up by Rs300 to Rs117,700 per tola

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    Rupee gains 53 paisa against USD in interbank

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    Moody’s upgradation of Pakistan outlook affirms sound financial policies: Finance Ministry

    Moody’s upgradation of Pakistan outlook affirms sound financial policies: Finance Ministry

    Gold up by Rs400 to Rs123,900 per tola

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    The Asian Development Bank’s COVID-19 response reaches $9.3 billion to end July 2020

    The Asian Development Bank’s COVID-19 response reaches $9.3 billion to end July 2020

    Financial close of Thar Block-2 Power Plant in Sept end, says Asim Saleem Bajwa

    Financial close of Thar Block-2 Power Plant in Sept end, says Asim Saleem Bajwa

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    Gold up by Rs400 to Rs123,900 per tola

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    Suga set to become Japan’s premier

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    Johnson says plan to break Brexit treaty needed to counter EU’s ‘revolver’

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    Kabul presses ceasefire demand in Taliban talks

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    China coronavirus vaccine may be ready for public in November: official

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    Trump to preside over historic Arab-Israel recognition deals

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    Over 70 held in Melbourne after protest against lockdown

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    Libyan protesters torch parallel govt’s offices

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    Women grieve stillborn babies as Covid-19 hits maternity care in rural India

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    October, November to be ‘tougher’ in Europe with more covid deaths: WHO

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      Snap pledges to hire more minorities, women in tech roles

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      PTA lifts ban on PUBG after meeting company representatives

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      Qualcomm quick charge 5 announced supporting 100W fast charging

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      Huawei launches Maimang 9 with 64MP triple cameras for $300

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        Agha Ali sends prayers towards Sarah Khan, Falak Shabir

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        Actress Kelly Preston dies of breast cancer at 57

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          Gold price up by Rs300 to Rs117,700 per tola

          Gold price up by Rs300 to Rs117,700 per tola

          Rupee gains 53 paisa against USD in interbank

          Rupee gains 53 paisa against USD in interbank

          LPG price goes up by Rs5/kg

          LPG price goes up by Rs5/kg

          Moody’s upgradation of Pakistan outlook affirms sound financial policies: Finance Ministry

          Moody’s upgradation of Pakistan outlook affirms sound financial policies: Finance Ministry

          Gold up by Rs400 to Rs123,900 per tola

          Gold soars to all-time high of Rs132,000 per tola

          The Asian Development Bank’s COVID-19 response reaches $9.3 billion to end July 2020

          The Asian Development Bank’s COVID-19 response reaches $9.3 billion to end July 2020

          Financial close of Thar Block-2 Power Plant in Sept end, says Asim Saleem Bajwa

          Financial close of Thar Block-2 Power Plant in Sept end, says Asim Saleem Bajwa

          Gold up by Rs400 to Rs123,900 per tola

          Gold up by Rs400 to Rs123,900 per tola

        • World
          Suga set to become Japan’s premier

          Suga set to become Japan’s premier

          Johnson says plan to break Brexit treaty needed to counter EU’s ‘revolver’

          Johnson says plan to break Brexit treaty needed to counter EU’s ‘revolver’

          Kabul presses ceasefire demand in Taliban talks

          Kabul presses ceasefire demand in Taliban talks

          China coronavirus vaccine may be ready for public in November: official

          China coronavirus vaccine may be ready for public in November: official

          Trump to preside over historic Arab-Israel recognition deals

          Trump to preside over historic Arab-Israel recognition deals

          Over 70 held in Melbourne after protest against lockdown

          Over 70 held in Melbourne after protest against lockdown

          Libyan protesters torch parallel govt’s offices

          Libyan protesters torch parallel govt’s offices

          Women grieve stillborn babies as Covid-19 hits maternity care in rural India

          Women grieve stillborn babies as Covid-19 hits maternity care in rural India

          October, November to be ‘tougher’ in Europe with more covid deaths: WHO

          October, November to be ‘tougher’ in Europe with more covid deaths: WHO

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            China-Pakistan sign development agreement of Rashakai SEZ under CPEC

            China-Pakistan sign development agreement of Rashakai SEZ under CPEC

            China – Pakistan to sign Rashakai SEZ development agreement under CPEC today

            China – Pakistan to sign Rashakai SEZ development agreement under CPEC today

            Pakistan, China to ink deal on development of CPEC’s Rashakai Economic Zone tomorrow

            Pakistan, China to ink deal on development of CPEC’s Rashakai Economic Zone tomorrow

            Pakistan invites Japan to explore investment opportunities under CPEC

            Pakistan invites Japan to explore investment opportunities under CPEC

          • Technology
            Snap pledges to hire more minorities, women in tech roles

            Snap pledges to hire more minorities, women in tech roles

            PTA lifts ban on PUBG after meeting company representatives

            PTA lifts ban on PUBG after meeting company representatives

            Qualcomm quick charge 5 announced supporting 100W fast charging

            Qualcomm quick charge 5 announced supporting 100W fast charging

            Huawei launches Maimang 9 with 64MP triple cameras for $300

            Huawei launches Maimang 9 with 64MP triple cameras for $300

            Black holes are hiding movies of the universe in their glowing rings

            Black holes are hiding movies of the universe in their glowing rings

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              Agha Ali sends prayers towards Sarah Khan, Falak Shabir

              Agha Ali sends prayers towards Sarah Khan, Falak Shabir

              Rihanna makes foray into skin care with Fenty Skin

              Rihanna makes foray into skin care with Fenty Skin

              Actress Kelly Preston dies of breast cancer at 57

              Actress Kelly Preston dies of breast cancer at 57

              Mahira Khan shakes leg with Lebanese actress Daniella Rahme in Paris

              Mahira Khan shakes leg with Lebanese actress Daniella Rahme in Paris

              Abida Parveen is Jada Smith’s ‘spiritual mother’

              Abida Parveen is Jada Smith’s ‘spiritual mother’

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              Katrina Kaif’s picture with sister Isabelle Kaif makes for a perfect sibling selfie

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              Home Technology

              Hydrogen champion Hyundai races to electric as Tesla takes off

              Web Desk by Web Desk
              28/07/2020
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              Hydrogen champion Hyundai races to electric as Tesla takes off
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              SEOUL: Hyundai Motor Co, an early backer of hydrogen cars, has watched the electric rise of Tesla, including on its home turf. Now’s it’s going on the offensive in the battery-powered market led by its US rival.

              The South Korean company plans to introduce two production lines dedicated to electrics vehicles (EVs), one next year and another in 2024, according to an internal union newsletter seen by Reuters.

              Another car maker switches emphasis from hydrogen to electric.

              What struck me most was the quote from the union boss basically saying: we fear for our jobs, BUT we know electric is the future and we don’t want Hyundai to end up like Kodak.

              Wise man.https://t.co/dQTImV1x8G

              — AukeHoekstra (@AukeHoekstra) July 28, 2020

              Euisun Chung, leader of the Hyundai Motor Group conglomerate that also includes Kia Motors, has also held a series of meetings since May with his counterparts at Samsung, LG and SK Group, which make batteries and electronic parts.

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              The purpose of the talks, which were publicly announced, was for Hyundai to try to secure batteries at a time of tight supply as the race for EVs intensifies, according to several industry sources. Those manufacturers also supply the likes of Tesla, Volkswagen and GM.

              Hyundai told Reuters it was collaborating with Korean battery suppliers “to scale up” its electric car production efficiently. It declined to comment on any plans to introduce dedicated production lines.

              Samsung, LG and SK declined to comment.

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              The moves indicate the carmaker is moving aggressively to expand its electric capacity, days after Chung announced on July 14 that Hyundai Motor Group aimed to sell 1 million battery EVs a year and grab a global market share of over 10% by 2025.

              There’s some way to go; Hyundai Motor Group sold 86,434 battery EVs last year, according to data from industry consultant LMC Automotive. That was above the 73,278 sold by Volkswagen Group but behind the 367,500 delivered by Tesla.

              Hyundai, the world’s No.5 automaker together with Kia Motors, said its agility allowed it to lead the charge into EVs. “We are certain Hyundai is never going to fall behind,” it added.

              NO KODAK MOMENT

              A senior Hyundai insider, who declined to be identified because of the sensitivity of the issue, said the company had not been concerned about Tesla when the Silicon Valley company was producing high-end cars.

              But it became more worried when Tesla brought out a cheaper Model 3 in 2017, according to the insider who described it as a “strategic victory”.

              No traditional automaker has been successful yet in catching up with Tesla, which retains an edge in battery and software technology.

              Hyundai could also face a roadblock from its powerful union, which is worried about job security as EVs require fewer components and workers than gasoline vehicles; at Hyundai, this is partly because the automaker makes a number of key components for conventional cars in-house, while many EV parts are outsourced at present.

              The union is pushing for the company to assemble key EV components, like battery packs and motors, in-house to offset any reduction in workforce.

              “We are not opposed to EV business. Kodak went bankrupt because it stuck to film even as the industry was shifting to digital photography,” union spokesman Kwon Oh-kook told Reuters.

              “We just want to protect the jobs of our members,” he said.

              Hyundai said automakers and unions needed to accelerate change to remain viable in the long term.

              HYDROGEN V ELECTRIC

              Back in 2010, Hyundai Motor Co made 230 electric cars for the government, but they ended up being mothballed at a research center outside Seoul due to a lack of charging infrastructure, according to Lee Hyun-soon, R&D chief at the time.

              In a 2014 book Lee, who developed South Korea’s first gasoline engines, said such electric vehicles were “not realistic”, also citing high battery costs, and that hydrogen cars – a rival clean technology – offered a “bright” future.

              Along with Toyota and Nikola NKLA.O, Hyundai was one of a few automakers to have backed hydrogen cars. It launched the industry’s first mass-produced hydrogen car, Tucson Fuel Cell, in 2013 and the NEXO in 2018.

              However the technology has not taken off; 7,707 hydrogen fuel cell cars were sold globally last year, compared with 1.68 million battery EVs, according to LMC Automotive.

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              In Hyundai’s home market, Tesla had its best month in June, with its Model 3 beating Hyundai’s Kona EV, as well as premium models from BMW and Audi.

              “Hyundai did not expect Tesla to dominate the EV market so quickly,” another person familiar with the company’s thinking told Reuters.

              Hyundai Motor Co has a market capitalization of about 25.3 trillion won ($21.2 billion) – less than a tenth of that of Tesla, now the world’s most valuable automaker.

              While Hyundai promotes its hydrogen cars with K-pop boyband BTS, it only plans to introduce up to two hydrogen models by 2025, and 23 battery-powered models.

              Peter Hasenkamp, vice president at electric startup Lucid, who previously worked at Tesla and Ford, said established carmakers faced historical “inertia” to make the EV transition.

              “Part of the reason we’re based in Silicon Valley is to leverage both software and electrical engineering expertise,” Hasenkamp told Reuters.

              “You’ve got a couple of generations for the big car companies to learn really how to do this well. It is a lot harder than they thought it was.”

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