SEOUL, Sept. 20 (Korea Bizwire) – Hyundai Motor Group said Wednesday it will speed up the construction of its electric vehicle (EV) and battery plant in the United States to benefit from tax credits for locally produced EVs. Hyundai President and Global Chief Operating Officer Jose Munoz made the remarks in Atlanta after the South [...]
SEOUL, Sept. 17 (Korea Bizwire) – Hyundai Motor Co. said Sunday the accumulated sales of its Genesis brand models exceeded 1 million units as of August, reaching the milestone in around eight years since the brand’s inception. The South Korean carmaker sold 690,177 units of the models in the domestic market, along with 318,627 units [...]
SEOUL, Sept. 15 (Korea Bizwire) — The powertrain of Hyundai Motor Co.’s all-electric Ioniq 6 sedan was named one of the 2023 Wards 10 Best Engines & Propulsion Systems on Friday. The annual awards from WardsAuto recognize compelling powertrain advancements that are all-new or significantly improved. The Ioniq 6 was selected for its performance, charging [...]
SEOUL, Sept. 12 (Korea Bizwire) – Hyundai Motor Co. and its labor union reached a tentative wage agreement Tuesday, averting a strike for the fifth consecutive year, the company said. The deal includes a 111,000 won (US$83.55) rise in monthly basic pay, as well as a bonus and performance-based benefits. The deal is subject to [...]
SEOUL, Sept.11(Korea Bizwire) – German automakers continue to maintain their stronghold in the South Korean import car market, and this dominance extends to the realm of electric vehicle (EV) sales as well. Recent import vehicle registration data from the Korea Association of Imported Automobile Manufacturers (KAIDA) released on Sunday reveals a substantial uptick in the number [...]
SEOUL, Sept. 6, (Korea Bizwire) – The resurgence of city cars, a segment that has long been overlooked, is now gaining momentum. In August, three city car models ranked among the top 10 in domestic passenger vehicle registrations. This surge in popularity can be attributed to several factors, including higher vehicle prices, rising fuel costs, [...]
SEOUL, Sept. 6 (Korea Bizwire) – In the realm of imported automobiles, there has been a noticeable shift in consumer preferences. Interest in diesel sedans and sport utility vehicles (SUVs) is waning, while electric vehicles (EVs) are gaining significant popularity. In particular, the market for imported electric passenger cars saw a significant milestone in August this [...]
SEOUL, Sept. 5 (Korea Bizwire) — Imported vehicle sales in South Korea fell 2.1 percent last month from a year earlier amid a lack of supplies in some brands, an industry association said Tuesday. The number of newly registered imported cars came to 23,350 units in August, down from 23,850 units a year ago, the [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Tuesday it overtook China’s Wuling Motors Holdings Ltd. to claim the biggest market share in Indonesia’s electric vehicle (EV) market in the first seven months of the year. Hyundai Motor sold 3,913 EVs in Indonesia between January and July, already exceeding the 2,028 [...]
BERLIN, Sept. 4 (Korea Bizwire) – LG Magna e-Powertrain, LG Electroincs’ joint venture with Canadian auto parts maker Magna International Inc., said Monday it will build an electric vehicle (EV) components factory in Hungary. The new 26,000-square-meter production base, the company’s first in Europe, will be built in the northeastern city of Miskolc by 2025, [...]