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Lotus has recruited former Jaguar Land Rover executive Phil Popham as its CEO as its new parent Geely Holding considers an investment of $1.9 billion to turn the niche brand into a global competitor.

Euisun Chung, heir apparent to the Hyundai Motor empire, advanced another step toward taking the reins after being promoted to Group Executive Vice Chairman.

Chung Eui-son moves a step closer to succeeding his 80-year-old father, Chung Mong-koo, who has presided over Hyundai for two decades.

VW wants to team up with other automakers to create an industry standard for self-driving technology. Such a move would give companies better legal protection following accidents involving AVs.