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Hyundai officially files for ~$3 billion IPO in India

(Credit: Hyundai Alabama)

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On June 16, 2024, Hyundai Motor Company confirmed that it officially filed for an initial pubic offering (IPO) in India estimated to raise nearly $3 billion. 

The South Korean automaker has already submitted the “Draft Red Herring Prospectus (DRHP) to India securities market. The DRHP is a preliminary document for Hyundai’s IPO in India. It is a crucial step in the IPO. India’s Securities and Exchange Board is expected to reject or approve the IPO in the next three to six months. 

Hyundai Motor Company has wholly owned the Hyundai Motor India Limited subsidiary since the beginning of its operations in 1996. The company intends to publicly sell portions of its existing shares in the Indian subsidiary. It will not issue new shares for the IPO. 

The Asian car manufacturer plans to sell 142 million shares out of its 812 million shares of the Hyundai Motor India Limited subsidiary. It hopes to raise up to $3 billion in the IPO and reach a valuation of around $30 billion for its Indian subsidiary. 

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Hyundai’s IPO in India will likely help it raise funds to expand operations in the country. India is the third-largest car market in the world. Hyundai Motor Group Chairman Chung Eui-sun has stated that the automaker is focused on growing in the Indian car market. Hyundai is already the second-best-selling automaker in India after Maruti Suzuki.

Hyundai has an annual production capacity in India of 1 million units. It invested $5 billion in two plants in Chennai, which produce 850,000 cars a year. Last year, it purchased a factory in Talegaon from General Motors, which can produce 130,000 vehicles annually. 

Hyundai plans to invest more in India. It announced plans to invest $4 billion in India over the next 10 years to launch new electric vehicles, charging stations, and battery packs. 

If you have any tips, contact me at maria@teslarati.com or via X @Writer_01001101. 

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Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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SpaceX Starlink gets its latest airline adoptee, grabbing three of the ‘Big Four’

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Credit: American Airlines

SpaceX’s Starlink product has just gotten its latest airline adoptee, and the move marks the successful partnership of three of the “Big Four” U.S. airlines.

American Airlines announced on Tuesday that it would utilize Starlink in more than 500 narrowbody aircraft beginning in the first quarter of 2027. These include the Airbus aircraft in its fleet, including the new A321XLR and A321neo.

With the new partnership with American Airlines, Starlink is now present on three of the largest airlines in the country: American, United, and Southwest.

Starlink gets its latest airline adoptee for stable and reliable internet access

Starlink’s VP of Enterprise Sales, Jason Fritch, said:

“We are proud to bring Starlink on board American Airlines, delivering fast and reliable internet to passengers and crew. Whether traveling for leisure or business, Starlink enables a fully connected experience gate to gate, making every flight smoother and more enjoyable.”

Additionally, American Airlines Chief Customer Officer, Heather Garboden, said:

“As a premium global airline, we are continuously seeking out world-class partners like Starlink to deliver what our customers need and want. The addition of Starlink solidifies American as a leading airline in keeping passengers connected in flight.”

Starlink has been on a tear over the past year, as it has continued to be adopted by a wide variety of airlines as a more consistent and reliable way to provide WiFi to its passengers. It has already gained a great reputation among residential users, but its biggest commercial application appears to be how it is being used in the air.

The only airline of the Big Four not to adopt Starlink thus far is Delta, which chose to opt for the alternative, which is Amazon Leo. CEO Ed Bastian said to Bloomberg that Delta chose Amazon’s product over Starlink’s because “the opportunities, in terms of the improved bandwidth with a much lower price point than what we’ve ever seen from Starlink, will make a big difference.”

Delta will not start installing Amazon Leo until 2028.

“Of course, we expect Starlink will be warning people that we’re going to go with an inferior product,” Bastian said. “But I’m not too worried about partnering with Amazon.”

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Tesla Cybertruck’s newest trim is nearing its first deliveries

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Credit: Joe Tegtmeyer | X

Tesla Cybertruck’s newest trim level is nearing its first deliveries just a few months after being offered for an incredible deal.

Back in February, Tesla officially launched a new trim of the Cybertruck, the All-Wheel-Drive, starting at just $59,990. It was a lot of truck for the money, especially considering what it offered the Rear-Wheel-Drive variant for last year, which was a total flop.

The $59,990 price that was offered initially was a deal due to its 325-mile range rating, powered tonneau, three bed outlets, Powershare capability, coil springs with adaptive damping for a refined suspension feel, Steer-by-Wire and four-wheel steering, a 6′ x 4′ composite bed, towing capacity of 7,500 pounds, and a powered frunk.

Tesla is now nearing deliveries of this trim, according to watcher Sawyer Merritt, as Tesla has officially started assigning VINs to people who ordered the vehicle initially:

Earlier this month, we reported on units of the trim being spotted outside Gigafactory Texas by Joe Tegtmeyer.

Tesla Giga Texas buzzing as new Cybertruck appears to enter production

This Cybertruck trim was interesting because it was released basically out of nowhere, priced incredibly well, and gathered many orders in a small amount of time. However, CEO Elon Musk noted just days afterward that the vehicle would only be priced at this bargain level for ten days.

Tesla fans were not happy.

However, the issues with the pricing strategy have blown over since the February unveiling event, and now that deliveries are near, Tesla fans are anticipating the truck making its way to their driveways soon.

The truck is currently priced at $69,990, and deliveries for new orders are slated for between August and September 2026.

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Tesla ships new feature that silences neighborhood Supercharger complaints

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Credit: Tesla

Tesla is shipping a new feature that silences neighborhood Supercharger complaints, prompting drivers to be aware of those who might be impacted by excessive noise nearby.

Tesla is now rolling out a new location-specific “Quiet Charging Zone” that prompts drivers to lower their vehicle’s audio volume in an effort to make things comfortable for everyone, even those who are not Tesla owners.

This is an impactful feature that will resolve many complaints from those who are living nearby.

When a Tesla plugs into this Supercharger and its media volume exceeds a certain level, the vehicle’s central touchscreen displays a polite notification: “Could you turn the volume down? Please be mindful of our neighbors.”

Accompanying the message is a prominent “Lower” button. One tap automatically reduces the audio to a more considerate level. Physical “Quiet Charging Zone” signs posted at the station reinforce the request, creating a cohesive experience that blends digital nudges with on-site reminders.

This feature highlights Tesla’s unique advantages. Unlike traditional automakers, Tesla owns both the vehicle software and the charging infrastructure.

Engineers can detect the precise location via GPS, trigger context-aware prompts, and deploy changes fleet-wide in hours or days without recalls or dealer visits. No public release notes highlighted the change, suggesting it was a quiet, site-specific rollout designed to test effectiveness before potential expansion.

These are usually referred to as “Undocumented Changes.”

Beyond immediate noise reduction, the initiative underscores Tesla’s customer- and community-focused ethos. While EVs are inherently quieter than combustion-engine vehicles, auxiliary behaviors like loud infotainment can still create friction in dense cities. Tesla’s rapid response turns potential conflict into an opportunity to demonstrate thoughtful engineering.

As Tesla expands its Supercharger network, which is now open to other EVs in many places, features like location-based quiet modes could become standard tools for harmonious integration into neighborhoods.

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