The IPO shows that India's red hot capital markets show no sign of cooling.
South Korea's Hyundai Motor is seeking to raise as much as $3.3 billion in what would be India's largest-ever stock listing by selling shares of its local unit. Manuel Baigorri reports on Bloomberg Television.
Hyundai Motor India will launch its IPO next week, marking parent Hyundai's first listing outside South Korea and India's first carmaker IPO since 2003.
Hyundai Motor India has set a price range of 1,865 rupees ($22) to 1,960 rupees ($23) for its initial public offering (IPO) that opens next week for subscriptions, a advertisement in the Financial Express newspaper showed on Wednesday.
Hyundai Motor India's IPO will open next week for subscriptions and will likely be priced in the range of 1,865 to 1,960 rupees ($22 to $23) per share, sources said on Tuesday, valuing the automaker at up to $19 billion in the country's biggest stock offering this year.
Hyundai Motor said in a regulatory filing on Tuesday that it will sell 142 million shares it holds in Hyundai Motor India for the latter's initial public offering.
Waymo is creating a plan to scale the business rapidly.
Hyundai Motor and Waymo have agreed to a multiyear, strategic partnership that includes the self-driving company adding the South Korean automaker's Ioniq 5 electric vehicle to its robotaxi fleet. Initial on-road testing with Waymo-enabled Ioniq 5s will begin by late 2025, and they are expected to become available to Waymo One robotaxi riders in the years to follow, the companies said.
Waymo, the biggest and only commercial robotaxi service in the U.S., has signed a “multiyear” agreement with Hyundai Motor to add electric Ioniq 5 hatchbacks to its Waymo One fleet starting next year as it expands operations and works to cut costs.
Alphabet's Waymo is in talks with South Korea's Hyundai Motor to outsource manufacturing of its self-driving vehicles, South Korean newspaper, Electronic Times, reported.
Two of the world's biggest carmakers are teaming up to find ways to cut expenses, get products to customers faster, and develop new vehicles.
General Motors Co. and Hyundai Motor Co. said Thursday they have signed a memorandum of understanding to explore collaboration on vehicles, supply chain and clean-energy technologies in a move aimed at cutting costs and bringing new technology to market faster.