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- U.S. Middle East Presence
- Samsung SDI Partners With Hyundai
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U.S. Middle East Presence:
- Secretary of Defense, Lloyd J. Austin III, after discussions with President Biden, addressed the U.S. military's strategic response to the recent escalations by Iran and its proxies in the Middle East. Austin highlighted several key decisions to strengthen the Department of Defense's stance in the region. These measures aim to improve regional deterrence, ensure the protection of U.S. forces, and assist in the defense of Israel.
- Specifically, he announced the redirection of the USS Dwight D. Eisenhower Carrier Strike Group to the Central Command area, complementing the USS Gerald R. Ford Carrier Strike Group already operating in the Eastern Mediterranean Sea. This move is expected to enhance the U.S. military's presence and readiness in the area.
- Furthermore, a Terminal High Altitude Area Defense (THAAD) battery and additional Patriot battalions will be deployed to safeguard U.S. forces in the region. Additionally, to ensure swift response capabilities, several forces have been placed on "prepare to deploy" orders. Secretary Austin concluded by emphasizing his commitment to continually assess the region's force requirements and remains open to deploying more capabilities if necessary.
Samsung SDI Partners With Hyundai:
- Samsung SDI has revealed plans to supply Hyundai Motor with electric vehicle (EV) batteries for a span of seven years, beginning in 2026. This collaboration marks the inaugural partnership between the two companies in the EV battery domain. Notably, Samsung SDI, which is already a battery supplier to renowned automotive giants like General Motors, Stellantis, and BMW, will produce these batteries at its Hungarian factory.
- These batteries are specifically designed for Hyundai's EVs that are set to target the European market between the years 2026 and 2032. Although the exact details of the deal remain undisclosed, an industry source estimates that Samsung SDI will provide batteries capable of powering approximately 500,000 EVs over the course of the agreement.
Statistic:
Largest defense contractors by market cap:
- 🇺🇸 Honeywell: $120.38B
- 🇺🇸 Lockheed Martin: $111.85B
- 🇺🇸 Raytheon Technologies: $105.59B
- 🇺🇸 Northrop Grumman: $73.48B
- 🇺🇸 General Dynamics: $64.14B
- 🇫🇷 Safran: $63.47B
- 🇬🇧 BAE Systems: $39.01B
- 🇺🇸 L3Harris Technologies: $33.30B
- 🇫🇷 Thales: $30.13B
- 🇮🇳 Hindustan Aeronautics: $15.37B
- 🇫🇷 Dassault Aviation: $15.15B
- 🇩🇪 Rheinmetall: $11.81B
- 🇮🇳 Bharat Electronics: $11.79B
- 🇺🇸 Huntington Ingalls Industries: $8.73B
- 🇮🇱 Elbit Systems: $8.50B
- 🇮🇹 Leonardo: $8.36B
- 🇳🇴 Kongsberg Gruppen: $7.57B
- 🇸🇪 SAAB AB: $6.68B
- 🇹🇷 Aselsan: $6.65B
- 🇺🇸 Leonardo DRS: $4.94B
- 🇩🇪 Hensoldt: $3.18B
- 🇺🇸 AeroVironment: $3.07B
- 🇪🇸 Indra Sistemas: $2.42B
- 🇬🇧 QinetiQ: $2.30B
- 🇺🇸 Kratos Defense & Security Solutions: $2.21B
- 🇺🇸 Mercury Systems: $2.20B
- 🇮🇳 Bharat Dynamics: $2.20B
- 🇺🇸 V2X: $1.58B
- 🇺🇸 Sturm, Ruger & Co: $0.96B
- 🇺🇸 VSE Corporation: $0.87B
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