Nexen Tire, one of Korea’s leading tire makers, will soon decide on its second production site in Europe, and the Czech Republic is emerging as the strongest candidate, sources said. According to Czech News Agency, Nexen is considering several locations including Poland, Slovakia and the Industrial Zone Triangle near Zatec of the Czech Republic.The countries, and their regions, are reportedly battling to win the investment from Nexen.The tire maker, however, denied the speculations and announced

Bond investors rewarded Tesla Motors Inc. by snapping up $2 billion of convertible notes at funding costs that are lower than a five-year average as the luxury electric-car maker prepares to build the world’s largest battery factory.In an offering that was bigger than initially estimated, the company sold $800 million of 0.25 percent, five-year notes and $1.2 billion of 1.25 percent, seven-year securities, according to data compiled by Bloomberg. Both coupons are lower than the median for simila

Harley-Davidson Inc. has hit upon what it thinks is a rich trove of untapped demand in Japan: four-wheel drivers who can’t ride two-wheel motorcycles.To give them a taste of what the American motorcycle-maker has to offer, Harley-Davidson is rolling out the three-wheel Tri Glide in Japan, its largest market outside North America. The Milwaukee-based company began selling the trikes in Japan this month, at a starting price from 4 million yen ($39,000).“It’s a relatively easy way into Harley-David

Sales of smaller-size import cars have surged and accounted for more than half of all newly registered foreign-made vehicles in South Korea last year, industry data showed Tuesday.According to Korea Automobile Importers and Distributors Association, of the 156,497 imported cars sold in 2013, a record 53.5 percent, or 83,677 units, were vehicles with an engine displacement of under 2 liters.This marks the first time that smaller-size cars made up more than half of all sales.In contrast, mid-size

Hyundai Motor Co., may have to pay around 120 billion won ($111.4 million) to consumers in its home market for exaggerating the fuel efficiency of its diesel-powered Santa Fe sport utility vehicle, the government said Monday.According to the Ministry of Land, Infrastructure and Transport, the R2.0 engine, two-wheel-drive model of the popular SUV did not meet its reported mileage. The carmaker has appealed the results and asked for another test, whose results are expected late next month.Hyundai

Volkswagen AG, Europe’s largest carmaker, reported an 18 percent gain in fourth-quarter profit as record sales at its luxury Audi and Porsche brands offset spending on developing new models and expanding production.Earnings before interest and taxes rose to 3.11 billion euros ($4.27 billion) from 2.64 billion euros a year earlier, according to Bloomberg calculations using the Wolfsburg, Germany-based automaker’s full-year and nine-month results. Profit missed the 3.17 billion euro average of 11