Kia reappoints CEO Song Ho-sung for third term
South Korean automaker Kia Corporation has reappointed Song Ho-sung as its CEO for another three-year term, after the company's shareholders voted in favour of extending his leadership at the annual shareholders meeting in Seoul last week.
The vote was an endorsement of Song Ho-sung's leadership over the last six years, which has seen the automaker grow its global sales from 2.6 million units in 2020 to 3.1 million units in 2024, generating annual revenues of over KRW100trn for the first time last year. The company's actual revenues increased by almost 8% to KRW107trn (US$74bn) in 2024.
At the shareholders meeting, Song Ho-sung confirmed the automaker's commitment to driving up electric vehicle (EV) usage globally and expanding its purpose-built vehicle (PBV) business.
Kia is targeting a 4% increase in global sales to 3.22 million units in 2025, with a medium-term target of delivering more than 4.3 million vehicles by 2030, including 1.6 million battery electric vehicles (BEVs).
In the first quarter of this year the automaker unveiled the Tasman, the company's first-ever pickup truck, and the EV4 battery-powered sedan. In January the company launched production of the Syros in India, a small SUV specifically designed for the local market.
Kia also plans to release a battery-powered PBV model every two years, starting with the PV5 later this year, followed by the PV7 in 2027 and the PV9 in 2029.
Also at the meeting, Kia's shareholders approved an amendment to the company's articles of incorporation to include real estate development as one of its businesses, to reflect its plan to build a network of wholly-owned flagship stores.
"Kia reappoints CEO Song Ho-sung for third term" was originally created and published by Just Auto, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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Perpetua Resources Announces US$300 Million Bought Deal Financing and US$100 Million Private Placement as part of Comprehensive Financing Package for Stibnite Gold Project
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The Company intends to use the proceeds of the Offering and the Private Placement as part of a comprehensive financing package for the development of the Company's Stibnite Gold Project (the "Project") in conjunction with the previously announced application for up to US$2 billion in project financing submitted to the Export-Import Bank of the United States ("EXIM") in May 2025. The Company intends to designate the proceeds of the Offering and the Private Placement toward equity requirements for the EXIM debt financing, with any additional funds intended to support exploration activities, working capital and general corporate purposes. EXIM's due diligence on the Company's application is ongoing and is conditional upon successfully completing the due diligence and underwriting process. If the due diligence process is successful, the Company anticipates closing the debt financing in 2026. 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The Company is seeking a US$155 million guarantee and indemnification of the Company's obligations to surety providers in respect of reclamation bonds or other financial instruments, along with proceeds between US$200 million to US$250 million, in exchange for either a gold net smelter return ("NSR") royalty not to exceed 3.9% or a gold stream. A royalty, if any, would be expected to provide for buy back of a portion of the royalty if certain conditions are met. The US$155 million guarantee and indemnification is anticipated to be sufficient to satisfy the aggregate obligations of the Company to provide construction phase financial assurance as required by regulatory authorizations from relevant agencies. 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Aduro Clean Technologies Announces Closing of US$8 Million Underwritten Public Offering
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For further information, please contact:info@ Cautionary Note Regarding Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the United States Securities Exchange Act of 1934, as amended, or the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included herein and public statements by our officers or representatives, that address activities, events or developments that our management expects or anticipates will or may occur in the future, are forward- looking statements, including but not limited to such things as future business strategy, plans and goals, competitive strengths and expansion and growth of our business. The words "estimate", "plan", "anticipate", "expect", "intend", "believe" "target", "budget", "may", "can", "will", "would", "could", "should", "seeks", or "scheduled to" and similar words or expressions, or negatives of these terms or other variations of these terms or comparable language or any discussion of strategy or intention identify forward-looking statements. Forward-looking statements address activities, events, or developments that the Company expects or anticipates will or may occur in the future and are based on current expectations and assumptions. Forward-looking statements in this news release relate to, among other things, the completion of the Offering and the terms thereof, the closing of the Offering, the intended use of proceeds of the Offering and the strategic vision and objectives for the Company and expectations regarding exploration potential. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to, risks related to changes in our operations at the Hycroft Mine, including risks associated with the cessation of mining operations at the Hycroft Mine; uncertainties concerning estimates of mineral resources; risks related to a lack of a completed feasibility study; risks related to our ability to re-establish commercially feasible mining operations; industry related risks, including fluctuations in the price of gold and silver; the commercial success of, and risks related to, our exploration and development activities; uncertainties and risks related to our reliance on contractors and consultants; and the availability and cost of equipment, supplies, energy, or reagents. The occurrence of one or more of the events or circumstances described alone or in combination with other events or circumstances may have a material adverse effect on the Company's business, cash flows, financial condition, and results of operations. Please see our "Risk Factors" outlined in our Annual Report on Form 10-K for the year ended December 31, 2024, and other reports we have filed with the SEC for more information about these and other risks. You are cautioned against attributing undue certainty to forward-looking statements. Although we have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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We undertake no obligation to update those statements or publicly announce the results of any revisions to any of those statements to reflect future events or developments except as required by applicable law. All forward-looking statements contained in this news release are expressly qualified by the foregoing cautionary statements. View original content to download multimedia: SOURCE Hycroft Mining Holding Corporation View original content to download multimedia:
