SEOUL, March 2 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Wednesday it will invest 95.5 trillion won (US$79 billion) in facilities, R&D activities and other strategic purposes by 2030. Of the planned investments, Hyundai will spend 43.6 trillion won on facilities, 39.1 trillion won on R&D projects and 12.8 trillion won on strategic [...]
SEOUL, March 2 (Korea Bizwire) — A number of insurance companies have filed a protest against U.S. electric vehicle maker Tesla Inc.’s policy of collecting old batteries when replacing them with new ones for their EV models. The Korea Insurance Development Institute’s Korea Automobile Insurance Repair Research and Training Center sent a letter of inquiry [...]
SEOUL, March 2 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Wednesday their combined sales in the United States rose 6.4 percent in February from a year earlier despite the prolonged pandemic and chip shortages. The corporate duo sold a total of 105,088 vehicles in the world’s most important automobile market [...]
SEOUL, March 1 (Korea Bizwire) — Kia Corp. said Tuesday its all-electric EV6 sedan has been named the 2022 European Car of the Year (ECOTY), marking the first time for a South Korean automobile brand to clinch the award. In a ceremony held in Geneva on Monday (local time), the Kia EV6 received the prestigious [...]
SEOUL, Feb. 28 (Korea Bizwire) — South Korea ranked fifth in terms of the global vehicle production last year, retaining the spot for the second consecutive year, amid efforts to minimize the fallout from the pandemic-caused global chip shortages, a report showed Monday. The combined vehicle output by South Korean carmakers, including Hyundai Motor Co. [...]
SEOUL, Feb. 25 (Korea Bizwire) — Hyundai Motor Co. said Friday it has signed an initial pact with Shell Plc for cooperation in electrification and carbon neutrality. Last week, Hyundai Motor signed a memorandum of understanding with Shell, Europe’s biggest oil firm, to collaborate on electric vehicle charging infrastructure, hydrogen fuel-cell electric vehicle supplies, and [...]
SEOUL, Feb. 25 (Korea Bizwire) — South Korean auto parts maker Myong Shin Inc. is set to develop electric trucks in collaboration with Chinese automobile manufacturer Geely Auto Group. The company said it held a virtual meeting with Geely New Energy Commercial Vehicle Group on Monday and signed an agreement on the basic framework of [...]
SEOUL, Feb. 24 (Korea Bizwire) — Hyundai Motor Group said Thursday it has earned the most safety pick awards from the U.S. Insurance Institute for Highway Safety (IIHS), beating rivals such as Volkswagen and Volvo. Eleven models from the South Korean automotive group garnered the Top Safety Pick+ (TSP+) awards and 10 models obtained the [...]
SEOUL, Feb. 24 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker by sales, on Wednesday unveiled a new digital instrument that makes it easier for everyone to create music using sounds from nature. ‘move.ment’, produced in collaboration with synthesizer builder Arthur Joly, contains eight sounds of nature including the sound of water flowing at [...]
SEOUL, Feb. 22 (Korea Bizwire) — Hyundai Mobis Co., the auto parts making unit of Hyundai Motor Group, plans to spend up to 8 trillion won (US$6.72 billion) in the next three years to bolster auto chips, mobility and other areas as its future growth drivers. The company unveiled the plan in a recent regulatory [...]