Automotive Archives | Be Korea-savvy

Archive by category Automotive

Demand for Electric Cars on Jeju Island Outstrips Supply

Demand for Electric Cars on Jeju Island Outstrips Supply

SEOUL, Jul. 18 (Korea Bizwire) — Electric car manufacturers have been unable to supply promised cars to the public on time. According to the provincial government of Jeju, 1,015 new electric cars were registered on the island during a period of six months between February and July, which is just 25.3 percent of the initial [...]

Protectionism Puts Korea Inc. in a Fix

Protectionism Puts Korea Inc. in a Fix

SEOUL, Jun. 13 (Korea Bizwire) — Escalating global protectionism, sparked by a Sino-American trade war, has put corporate Korea in a tight spot as it is feared to take a toll on exports, a key growth engine for Asia’s fourth-largest economy, industry sources said Friday. The United States and China, the world’s two largest economies, [...]

Non-German Foreign Carmakers Post Strong Performances for 2017 in S. Korea

Non-German Foreign Carmakers Post Strong Performances for 2017 in S. Korea

SEOUL, Jul. 12 (Korea Bizwire) — Non-German foreign carmakers, such as Toyota Motor Corp. and Jaguar Land Rover, did well in South Korea in the past fiscal year, posting sales of over 1 trillion won (US$887 million) each, the companies said Thursday. In the 2017 fiscal year, which ended in March, Toyota Motor reported sales [...]

Hyundai, Baidu to Strengthen Ties in Connected Cars

Hyundai, Baidu to Strengthen Ties in Connected Cars

SEOUL, Jul. 10 (Korea Bizwire) — South Korea’s Hyundai Motor Group and Chinese internet search behemoth Baidu will strengthen their partnership in developing connected vehicles and related technologies, the company said Tuesday. In their strategic business partnership, Hyundai Motor Group and Baidu will jointly develop connected car services that provide a variety of in-car content [...]

Hyundai Motor’s Market Cap Hits 8-year Low

Hyundai Motor’s Market Cap Hits 8-year Low

SEOUL, Jul. 5 (Korea Bizwire) — South Korea’s top automaker Hyundai Motor Co. has seen its market capitalization touch an eight-year low as slumping global sales pound its share price, data showed Thursday. Shares of Hyundai Motor closed at 119,500 won (US$107) on Wednesday, the lowest closing price since April 19, 2010, according to the [...]

First Electric Car Battery Recycling Center Coming to Jeju Island

First Electric Car Battery Recycling Center Coming to Jeju Island

JEJU, Jul. 4 (Korea Bizwire) — A recycling facility for used electric car batteries will be established for the first time in the nation on Jeju Island, a popular holiday destination off the south coast of South Korea. The Jeju provincial government announced yesterday that the groundbreaking ceremony for the facility will take place at [...]

Hyundai Invests in Australian Car Sharing Firm

Hyundai Invests in Australian Car Sharing Firm

SEOUL, Jul. 4 (Korea Bizwire) — Hyundai Motor Co. has landed a partnership with a Sydney-based car sharing start-up to develop a smartphone application that allows for a person-to-person ride sharing service, the company said Wednesday. Under the partnership with Car Next Door, Hyundai Motor aims to launch an app-based “new mobility service” in Australia [...]

Porsche Dealers File Lawsuit After Emissions Controversy

Porsche Dealers File Lawsuit After Emissions Controversy

SEOUL, Jul. 3 (Korea Bizwire) — Car dealers working for Porsche Korea have filed for damages against their employer, as the scandal involving the doctoring of emissions results left them unable to sell the vehicles. Porsche officials were charged with falsifying results to help cars meet Korea’s environmental standards. This is the first time that [...]

Hyundai to Work with Israeli Firm on Connected Cars

Hyundai to Work with Israeli Firm on Connected Cars

SEOUL, Jul. 3 (Korea Bizwire) — Hyundai Motor Co. has invested in an Israeli company to jointly develop a chipset for direct communications with connected vehicles, the company said Tuesday. Hyundai Motor will partner with Autotalks, an Israel-based fabless semiconductor company specializing in vehicle-to-everything (V2X) communications, to “pre-emptively prepare for the era of connected vehicles,” [...]