SEOUL, May 20 (Korea Bizwire) — General Motors Co. on Friday named new presidents for GM Korea Co. and the South Korean unit’s R&D unit GM Technical Center Korea (GMTCK) amid the unprecedented global chip shortage. GM has appointed Roberto Rempel, currently president of GMTCK, as president and CEO of GM Korea Co, effective June [...]
SEOUL, May 18 (Korea Bizwire) — South Korea’s Hyundai Motor Group said Wednesday it will invest 21 trillion won (US$16.5 billion) to expand its domestic electric vehicle production capacity and develop related technologies by 2030. Hyundai Motor Co. and its affiliate Kia Corp. will spend most of the planned investments in expanding their existing EV [...]
SEOUL, May 18 (Korea Bizwire) — South Korean automaker Hyundai Motor Co. said Wednesday it will launch the upgraded Palisade SUV in the domestic market this week amid the prolonged global chip shortage. The face-lifted Palisade comes with a 3.8-liter gasoline engine or a 2.2-liter diesel engine, and is priced at 39 million won-52 million [...]
SEOUL, May 17 (Korea Bizwire) — Hyundai Motor Co. on Monday announced the details of a new electric vehicle (EV) charging subscription plan called Lucky Pass H that allows users to charge EVs at a discounted rate within the limit of pre-set charging maximums if they pay a certain fee every month. Depending on the [...]
SEOUL, May 16 (Korea Bizwire) — South Korea’s car exports grew 12.4 percent in April from the previous year on the back of global popularity of eco-friendly cars, data showed Monday. Outbound shipments of automobiles stood at 196,780 units last month, compared with 175,015 units a year earlier, according to the data from the Ministry [...]
SEOUL, May 16 (Korea Bizwire) — Hyundai Motor Group on Sunday unveiled a mobility concept using “ondol,” Korea’s traditional underfloor heating system, as a motive. The Mobility Ondol concept uses batteries as a heat source and is based on the principle of improving heating efficiency by using the battery heat generated by the operation of [...]
SEOUL, May 13 (Korea Bizwire) — A Seoul court on Friday selected a local consortium led by chemical-to-steel firm KG Group as the preliminary bidder for SsangYong Motor ahead of the auction beginning later this month to find a new investor for the carmaker. The new auction comes two months after local electric bus maker [...]
SEOUL, May 11 (Korea Bizwire) — Hyundai Motor Co. said Tuesday it is participating in America’s Advanced Clean Transportation Expo 2022 for the first time. At the Expo, held from Monday to Thursday, Hyundai will introduce the Xcient fuel cell truck and offer test drive programs. The carmaker will also be invited to speak at [...]
SEOUL, May 10 (Korea Bizwire) — Hyundai Motor Co. is building a combined heat and power (CHP) plant fired by liquefied natural gas (LNG) at its mainstay plant in Ulsan, 414 km southeast of Seoul, to generate its own electricity. The carmaker recently submitted plans to Ulsan’s Buk District Office, which were posted as an [...]
SEOUL, May 10 (Korea Bizwire) — Renault Korea Motors said Tuesday an affiliate of China’s Geely Holding Group will invest in the company as part of their parent firms’ agreement signed early this year to develop an environment friendly vehicle. Geely Automobile Holdings, China’s largest privately-owned automotive group, will acquire a 34.02 percent stake in [...]