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Milestone reaffirms Hyundai Motor Group's commitment to safety, quality, design, and performance More than 5,000 vehicles have been tested and driven more than 20-million miles at the facility since opening in 2005 20-year celebratory event and reception was held on Monday, Feb. 10 CALIFORNIA CITY, Calif., Feb. 13, 2025 /PRNewswire/ -- Hyundai America Technical Center, Inc. (HATCI) held a celebration event earlier this week in honor of 20 successful years of quality and performance testing at its California Proving Ground (CPG) in California City, Calif. The $80 million facility, which opened in 2005, has seen more than 5,000 Hyundai Motor, Kia, and Genesis vehicles undergo rigorous testing on a variety of roads and in extreme conditions to ensure their quality, durability, reliability, and safety. Hyundai Motor Group Celebrates 20 Years of Driving Innovation at the Hyundai California Proving Ground "The Hyundai Motor Group has made exceptional progress over the past 20 years, thanks in part to our California Proving Ground and the outstanding work of our team there," said Euisun Chung, Executive Chair, Hyundai Motor Group. "As we look to the future, we must focus on pioneering technologies such as AI, robotics, Software Defined Vehicles, electrification, and hydrogen technology. Facilities like the California Proving Ground will be critical to that innovation and will help shape the next 20 years of Hyundai Motor Group, turning challenges into opportunities and setbacks into successes." Situated in the middle of the Mojave Desert, the HATCI CPG is a 4,500-acre facility that serves as the center for Hyundai Motor, Kia, and Genesis vehicle evaluation operations in North America. The grounds include a 6.4-mile oval track, 2-million square-foot Vehicle Dynamics Area (VDA), 2.75-mile winding road track, a 3.3-mile hill road, off-road evaluation loops, and various specially surfaced roads exactingly constructed to replicate U.S. highways. Team members at the facility perform full vehicle evaluation, durability, and development testing. Vehicle development operations include activities ranging from ride and handling evaluations to Noise, Vibration, and Harshness (NVH) tests and Heat Protection assessments. The CPG also features three fully equipped garages and a material-weathering facility to accelerate and assess UV degradation. The CPG is one of many HATCI facilities in the United States dedicated to design, technology and engineering of Hyundai Motor Group (HMG) vehicles. HATCI supports new model development for HMG's North American operations and global programs from dedicated engineering facilities and support staff at affiliate sites located throughout the United States. Hyundai Motor Group Celebrates 20 Years of Driving Innovation at the Hyundai California Proving Ground Hyundai Motor Group Celebrates 20 Years of Driving Innovation at the Hyundai California Proving Ground
- Received Approval in Principle (AIP) from the American Bureau of Shipping (ABS) for nuclear-powered container ship - Unveiled model at U.S. New Nuclear for Maritime Summit - showcasing economic efficiency, performance, and safety - "Developing a business model by 2030 to accelerate the commercialization of marine nuclear technology" SEOUL, South Korea, Feb. 13, 2025 /PRNewswire/ -- HD Korea Shipbuilding & Offshore Engineering (HD KSOE), an intermediary holding company for HD Hyundai's shipbuilding sector, has unveiled a nuclear-powered container ship model utilizing Small Modular Reactor (SMR) technology, accelerating the development of nuclear-powered vessels. A rendering of a 15,000 TEU-class SMR-powered containership unveiled by HD Korea Shipbuilding & Offshore Engineering On the 12th(Wednesday), HD KSOE announced that it had revealed its nuclear-powered container ship design model for the first time at the New Nuclear for Maritime Houston Summit, held at the Asia Society Texas Center in Houston, USA. Previously, HD KSOE had obtained Approval in Principle (AIP) from the American Bureau of Shipping (ABS) for a 15,000 TEU-class container ship design model applying SMR technology. The newly unveiled design model features enhanced economic efficiency and safety by incorporating actual equipment and safety design concepts. Unlike conventional ships, nuclear-powered vessels do not require engine exhaust systems or fuel tanks. HD KSOE has optimized the space previously occupied by large engine room equipment to accommodate additional containers, enhancing economic efficiency. The company has also applied a marine radiation shielding system using a double-tank method with stainless steel and *light water to ensure safety. Furthermore, HD KSOE, in collaboration with global energy technology company Baker Hughes, has applied a *supercritical carbon dioxide-based propulsion system, improving thermal efficiency by approximately 5% compared to existing steam-based propulsion systems. HD KSOE plans to establish a marine nuclear demonstration facility at its Future Technology Test Center in Yongin, Gyeonggi Province, to verify safety designs. "Nuclear-powered vessels can be a game-changer in the current shipbuilding market, where carbon neutrality is emerging," said Patrick Ryan, Chief Technology Officer of ABS. "ABS and HD KSOE will contribute to accelerating the commercialization of marine nuclear technology in the global shipbuilding market." Meanwhile, at the summit, a discussion on 'Maritime Civil Nuclear Propulsion for Large Ships' was held, featuring Park Sangmin, Head of HD KSOE's Green Energy Research Lab; Christopher J. Wiernicki, Chairman, President, and CEO of ABS; and John Michael Richardson, former U.S. Chief of Naval Operations. "HD KSOE is strengthening cooperation not only with major classification societies but also with international regulatory bodies to establish international regulations necessary for the commercialization of nuclear-powered vessels," said Park Sangmin. "Starting with the land-based SMR reactor manufacturing project, we aim to develop a marine nuclear business model by 2030." Since February last year, HD KSOE has been accelerating related technology development through joint research on next-generation SMRs with TerraPower. In December of the same year, the company secured an order to manufacture the main equipment for TerraPower's Natrium reactor, which is being constructed in Wyoming, USA. *Light water: Water used as a coolant and neutron moderator in reactors. *Supercritical carbon dioxide-based propulsion system: A technology that generates energy by heating carbon dioxide in a supercritical state. It enables high-efficiency power generation even at low temperatures and pressures, making it a next-generation power generation technology.
HAIKOU, China, Feb. 12, 2025 /PRNewswire/ -- JX Luxventure Group Inc. (Nasdaq: JXG) (the "Company"), a company in the wholesale trade sector specializing in duty-free and cross-border consumer goods, as well as providing integrated solutions in wholesale trade, including logistics, supply chain management, and technology solutions to support the efficient distribution of tourism-related products, today announced the launch of 'LuxGent,' its proprietary AI-based DeepSeek type chat agent designed to revolutionize customer interactions within its technology products and solutions. LuxGent leverages advanced artificial intelligence technologies to provide users with intelligent, personalized assistance. By analyzing extensive user behavior data, LuxGent offers tailored product recommendations, efficient self-service order management, and responsive customer support, thereby enhancing the overall user experience. "The introduction of LuxGent marks a significant milestone in our commitment to integrating cutting-edge technology into our services," stated Ms. Sun "Ice" Lei, Chief Executive Officer of the Company. "It will bring a more personalized and efficient experience to our end users." About JX Luxventure Group Inc. Headquartered in Haikou, China, JX Luxventure Group Inc. is a company in the wholesale trade sector specializing in duty-free and cross-border consumer goods, as well as providing integrated solutions in wholesale trade, including logistics, supply chain management, and technology solutions to support the efficient distribution of tourism-related products. To learn more about the Company, please visit its corporate website at https://www.jxluxventure.com/en/. Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of JX Luxventure Group Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
The world's supply chains are operating at full capacity, with the notable exception of Europe, which remains in a protracted industrial recession. Asia's manufacturing growth was reported by major exporters, led by South Korea, China, and India. Despite the possibility of tariffs and significant uncertainty surrounding their implementation, global manufacturers are not stockpiling inventories. CLARK, N.J., Feb. 12, 2025 /PRNewswire/ -- The GEP Global Supply Chain Volatility Index — a leading indicator tracking demand conditions, shortages, transportation costs, inventories, and backlogs based on a monthly survey of 27,000 businesses — posted -0.21 at the start of the year. This indicates that global supply chains are effectively at full capacity, signaled when the index hits 0. GEP Global Supply Chain Volatility Index "January's rise in manufacturers' procurement across APAC and the U.S. signals steady growth ahead in Q1," said John Piatek, GEP's vice president of consulting. "Globally, companies are largely taking a wait-and-see approach to tariffs rather than absorbing the immediate cost of increasing buffer inventories. However, many Western firms are accelerating China-plus-one investments to diversify and near-shore manufacturing, assembly, and distribution. European manufacturers are especially vulnerable, as the sector has been contracting for nearly two years with no turnaround in sight. In the U.S., where manufacturing represents just 12% of GDP, the bigger concern for business is the potential revenue losses in China because of trade tensions." A key finding in January was the marked increase in procurement activity across North America. This increase was entirely driven by U.S. manufacturers, as purchasing managers at Mexican and Canadian factories sanctioned procurement cutbacks, indicating a darkened near-term outlook there. In Asia, many major producers in the region bolstered their demand for inputs to meet growing production needs, led by China and India. South Korea, in particular, reported a marked pickup in January. By contrast, Europe's industrial economy continues to struggle, with our data indicating still-significant levels of spare capacity across the continent's supply chains. Factories in Germany, France, Italy, and the U.K. held back on material purchases in January, implying that Europe's manufacturing recession is set to persist a while longer. The Global Supply Chain Volatility Index data was captured just prior to the U.S. administration's announcement of tariffs on China, as well as the initial announcement (and subsequent pause) of tariffs on Mexico and Canada. Interpreting the data:Index > 0, supply chain capacity is being stretched. The further above 0, the more stretched supply chains are.Index < 0, supply chain capacity is being underutilized. The further below 0, the more underutilized supply chains are. JANUARY 2025 KEY FINDINGS DEMAND: After some pullback in the second half of 2024, global manufacturers' purchasing of raw materials is slowly recovering. In fact, global factory procurement in Asia is in line with its average, while in North America (driven by the U.S.), input purchasing is trending upward. This contrasts with the situation in Europe, which remains depressed as the region's industrial sector struggles to break out from its prolonged downturn. INVENTORIES: Global manufacturers' desire to safety stockpile remains contained. Reports from factories surveyed showing an increase in inventory levels due to concerns about price or supply were low in January. MATERIAL SHORTAGES: Reports of shortages for the globe's most critical items, such as commodities, electronic components, chemicals and food products, were at their lowest in five years during January. This suggests that suppliers remain well stocked, indicating there are minimal frictions for companies obtaining necessary materials. LABOR SHORTAGES: Global factory employment levels have been shrinking for several months1 and it appears that the growing labor shortage is now preventing global suppliers from completing orders as quickly. There was a rise in reports of factory backlogs rising due to inadequate labor supply in January. TRANSPORTATION: Global transportation costs are increasing. In January, they rose to their highest level in six months. REGIONAL SUPPLY CHAIN VOLATILITY NORTH AMERICA: Index up to -0.22, from -0.53, a six-month high, suggesting a pick-up in procurement across the region at the start of the year. EUROPE: Index down to -0.61, from -0.49, suggesting that activity levels across Europe's supply chains remain weak. U.K.: Index fell to -0.63, from -0.41 in December, a 13-month low and signaling a weaker outlook for 2025 for U.K. manufacturing. ASIA: Index rises to 0.03, from -0.09, indicating that suppliers to the region are generally operating at full capacity. For more information, visit www.gep.com/volatility.Note: Full historical data dating back to January 2005 is available for subscription. Please contact economics@spglobal.com.The next release of the GEP Global Supply Chain Volatility Index will be 8 a.m. ET, Mar. 12, 2025. About the GEP Global Supply Chain Volatility Index The GEP Global Supply Chain Volatility Index is produced by S&P Global and GEP. It is derived from S&P Global's PMI® surveys, sent to companies in over 40 countries, totaling around 27,000 companies. The headline figure is a weighted sum of six sub-indices derived from PMI data, PMI Comments Trackers and PMI Commodity Price & Supply Indicators compiled by S&P Global. A value above 0 indicates that supply chain capacity is being stretched and supply chain volatility is increasing. The further above 0, the greater the extent to which capacity is being stretched. A value below 0 indicates that supply chain capacity is being underutilized, reducing supply chain volatility. The further below 0, the greater the extent to which capacity is being underutilized. A Supply Chain Volatility Index is also published at a regional level for Europe, Asia, North America and the U.K. For more information about the methodology, click here. About GEP GEP® delivers AI-powered procurement and supply chain solutions that help global enterprises become more agile and resilient, operate more efficiently and effectively, gain competitive advantage, boost profitability and increase shareholder value. Fresh thinking, innovative products, unrivaled domain expertise, smart, passionate people — this is how GEP SOFTWARE™, GEP STRATEGY™ and GEP MANAGED SERVICES™ together deliver procurement and supply chain solutions of unprecedented scale, power and effectiveness. Our customers are the world's best companies, including more than 1,000 Fortune 500 and Global 2000 industry leaders who rely on GEP to meet ambitious strategic, financial and operational goals. A leader in multiple Gartner Magic Quadrants, GEP's cloud-native software and digital business platforms consistently win awards and recognition from industry analysts, research firms and media outlets, including Gartner, Forrester, IDC, ISG, and Spend Matters. GEP is also regularly ranked a top procurement and supply chain consulting and strategy firm, and a leading managed services provider by ALM, Everest Group, NelsonHall, IDC, ISG and HFS, among others. Headquartered in Clark, New Jersey, GEP has offices and operations centers across Europe, Asia, Africa and the Americas. To learn more, visit www.gep.com. About S&P Global S&P Global (NYSE: SPGI) S&P Global provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through ESG and energy transition across supply chains, we unlock new opportunities, solve challenges and accelerate progress for the world. We are widely sought after by many of the world's leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world's leading organizations plan for tomorrow, today. Disclaimer The intellectual property rights to the data provided herein are owned by or licensed to S&P Global and/or its affiliates. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without S&P Global's prior consent. S&P Global shall not have any liability, duty or obligation for or relating to the content or information ("Data") contained herein, any errors, inaccuracies, omissions or delays in the Data, or for any actions taken in reliance thereon. In no event shall S&P Global be liable for any special, incidental, or consequential damages, arising out of the use of the Data. Purchasing Managers' Index™ and PMI® are either trade marks or registered trade marks of S&P Global Inc or licensed to S&P Global Inc and/or its affiliates. This Content was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global. Reproduction of any information, data or material, including ratings ("Content") in any form is prohibited except with the prior written permission of the relevant party. Such party, its affiliates and suppliers ("Content Providers") do not guarantee the accuracy, adequacy, completeness, timeliness or availability of any Content and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such Content. In no event shall Content Providers be liable for any damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with any use of the Content. Media Contacts Derek CreeveyDirector, Public Relations GEPPhone: +1 646-276-4579 Email: derek.creevey@gep.com Joe HayesPrincipal EconomistS&P Global Market IntelligencePhone: +44-1344-328-099Email: joe.hayes@spglobal.com S&P Global Market Intelligence Corporate Communications Email: Press.mi@spglobal.com 1 Source: The S&P Global PMI survey, which encompasses the GEP Global Supply Chain Volatility Index GEP Global Supply Chain Volatility Index
Development of a movable sound system synchronized with the rollable display system Delivering a differentiated user experience through sound optimization and luxury automotive interior design Innovative integration of a premium display + sound system targeting the global market SEOUL, South Korea, Feb. 12, 2025 /PRNewswire/ -- Advancing as a future mobility technology specialist, Hyundai Mobis (KRX 012330) is driving innovation in automotive interior design with a new technology. Automobiles are no longer merely a means of transportation; they are evolving into a multifunctional space where people can relax, entertain themselves and interact with one another. Accordingly, automotive interior design is undergoing transformation to not only ensure passenger safety and convenience but also to deliver a differentiated user experience. The movable sound system adjusts the angle of each speaker according to the display deployment situation to deliver vivid sound quality to the user. (From left to right in the photo: speaker deployment in stationary mode, low-speed driving mode, and high-speed driving mode) On 12, Hyundai Mobis has announced its recent development of a new movable sound system synchronized with the movement of the display installed in the driver's seat (cockpit). This technology is part of its effort to create a unique interior design and ensure optimal sound quality in various display scenarios. The movable sound system is designed to work in perfect synchronization with the rollable display. Hyundai Mobis developed the world's first rollable display that moves up and down two years ago. This innovative technology features a large 30-inch display that can be adjusted according to driving conditions, providing users with information including navigation, music and videos. When the display is operational, the speakers installed on the right, left and center of the vehicle's front adjust their angle and move to minimize interference from surrounding sound waves and ensure optimal quality. The rollable display expands to its maximum size, enabling driver and passengers to enjoy music and videos when the vehicle is in idle or in autonomous mode. At this point, the movable sound system reclines and directs sound toward the vehicle's windshield to prevent sound interference caused by the fully expanded display. In contrast, the display expands to only one-third of its original size during driving to ensure that the driver's view remains unobstructed and only a minimum of driving information is displayed. During this time, the speaker orientates toward the driver, providing audio output. The speaker's position is dynamically adjusted based on the display's dimensions to deliver more vivid sound quality to the driver and passengers. Hyundai Mobis has developed this innovative display-synchronized movable sound system in the view that the latest vehicle display pursues features such as large screen, high resolution and slim design in differentiating automotive interior design. This innovation also reflects the confidence of Hyundai Mobis in its technological prowess in premium automotive display and sound systems. ■ Leading innovation through new technology integration with its automotive part technologies including the next-generation display and premium sound At this year's CES, Hyundai Mobis has unveiled a real vehicle with its Holographic Windshield Transparent Display, which uses the windshield as a display without the need for physical display devices. It also has a range of the world's first original premium in-vehicle systems, including rollable, swivel and QL displays. The company is also making inroads into the global premium sound system market through a partnership with Meridian, a British audio pioneer, and is accelerating global open innovation to secure special in-vehicle sound technologies. With its technological prowess, Hyundai Mobis is presenting the integration of technologies in the field of IVI (In-Vehicle Infotainment) for user experience innovation and enhanced mobility convenience. Its next-level solution, which integrates its advanced display and sound system technologies, is one example. "Hyundai Mobis is delivering its differentiated brand value in the mobility sector through its future-oriented innovative products targeting the global market", said Han Young-Hoon, the head of HMI Development Group, Hyundai Mobis. About Hyundai Mobis Hyundai Mobis is the global no. 6 automotive supplier, headquartered in Seoul, Korea. Hyundai Mobis has outstanding expertise in sensors, sensor fusion in ECUs and software development for safety control. The company's products also include various components for electrification, brakes, chassis and suspension, steering, airbags, lighting, and automotive electronics. Hyundai Mobis operates its R&D headquarters in Korea, with four technology centers in the United States, Germany, China, and India. For more information, please visit the website at http://www.mobis.com Media Contact Choon Kee Hwang: ckhwang@mobis.com Jihyun Han: jihyun.han@mobis.com
SUWON, South Korea, Feb. 12, 2025 /PRNewswire/ -- This is an interview with Fescaro Chief Technology officer Lee Hyun-jung published in The Korea Herald: Addressing hacking threats to vehicle software programs has become increasingly critical as vehicles evolve into "computers on wheels," relying more heavily on chips and software. Lee Hyun-jung, the chief technology officer at mobility software solutions provider Fescaro, emphasizes the need for a comprehensive approach to ensure robust vehicle cybersecurity. Based in Suwon, Gyeonggi Province, Fescaro collaborates with Korean automakers to provide security software that protects vehicles from hacker attacks and information leaks. "Vehicles are increasingly connected to external environments via software, interacting with urban infrastructure, personal communication devices and even other vehicles, while exchanging information in real time," said Lee. The CTO, a former white hat or ethical security hacker, added, "Enhancing cybersecurity for just vehicles will hardly ensure the safety of the entire mobility ecosystem. A flaw in the connected network could spread cyber threats throughout the entire value chain." In many countries, including the European Union, China and Korea, automakers can only sell their products if they provide systematic management of vehicle cybersecurity throughout the entire product lifecycle -- from design to production and disposal. "Korean automakers are obtaining European certifications for cybersecurity management systems and software update management systems to enter the regional market and comply with their legislation," said Lee. Fescaro has helped multiple Korean companies acquire European qualifications and the ISO/SAE 21434 certification. ISO/SAE 21434 is an international standard for automotive cybersecurity engineering jointly developed by the International Organization for Standardization (ISO) and the Society of Automotive Engineers (SAE). The SAE is a prominent professional association based in the US, with approximately 128,000 engineers and technical experts primarily involved in the mobility industry. "(When working with an automaker to obtain CSMS and SUMS), Fescaro formed an IT infrastructure system that integrates all cybersecurity management tasks into a unified platform, automating processes to enhance seamless workflows," Lee explained. "The system was also designed to monitor security-related events after the mass production of car models to prevent potential issues and track the effects of vehicle software updates," Lee added, emphasizing the company's ability to offer long-term solutions addressing various aspects of vehicle cybersecurity. As recognition for Fescaro's contributions to obtaining security certifications, Korean sport utility vehicle maker KG Mobility selected the company as its excellent business partner for 2024. Lee anticipated that the importance of vehicle cybersecurity would grow even further as electric vehicles and autonomous driving systems become more prevalent. "Autonomous driving requires a connection to external networks for precise and detailed recognition of the surrounding environment," said Lee. "Cybersecurity is also crucial for EV chargers, as they are directly connected to EVs. This connection may allow external networks to access sensitive personal information, such as the vehicle's identification and payment data." To address these concerns, Fescaro's business portfolio spans future mobility solutions. The company has collaborated with autonomous driving solution providers and EV charger manufacturers. "There is no perfect mobility cybersecurity system. Therefore, leading businesses must continuously upgrade their cybersecurity systems while also reducing costs. In response to this demand, Fescaro is developing the 'CSMS Portal,'" said Lee. The platform, built on Fescaro's experience working with mobility companies, offers streamlined and automated cybersecurity maintenance solutions. It aims to facilitate continuous monitoring and updates of companies' cybersecurity status with ease. "We plan to launch the portal in the first half of 2025. We hope to contribute to solving the challenges facing the mobility industry and enhance future competitiveness," Lee said.
Transportation/Trucking/Railroad
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