Other shipping giants including Mediterranean Shipping Company (MSC), CMA CGM and Hapag-Lloyd have also been avoiding the Red Sea route because of the increased threat of attacks.

Toyota and Honda will each invest about $1.44 billion in the country, while Isuzu Motors and Mitsubishi will combine to invest the remaining $1.44 billion.

Mass production at the upcoming $17 billion fab would begin in 2025, the newspaper reported, citing a speech by President Choi Siyoung of Samsung’s foundry business.

The shutdown comes about a week after Daihatsu said it was suspending all vehicle shipments after it was found that the organization used improper testing for 64 vehicle models.

Construction has already begun at the Fab 38 plant, which is due to open in 2028 and operate through 2035.

The nation intends to add almost 88 gigawatts of new capacity by early 2032, a 63% increase from a previous plan published in May 2023.

The company paid $31.13 million for use rights to a 48.7-acre plot near an existing Tesla plant that currently produces Model 3 and Model Y vehicles.

Capital Product Partners entered into an umbrella agreement with Capital Maritime & Trading Corp. and Capital GP on November 13, 2023 to acquire 11 LNG vessels from Capital Maritime.

The survey aims to identify how American companies are sourcing legacy chips as the country looks to award almost $40 billion in subsidies for semiconductor chip manufacturing.

Officials from the White House and various Cabinet agencies have been discussing whether to hike duties on certain Chinese exports, said people familiar with the matter who spoke anonymously.