SEOUL, Feb. 1 (Korea Bizwire) — Newly released South Korean automobiles are receiving positive feedback from media platforms and agencies in the U.S. and Europe. Hyundai Motor Co.’s all-electric IONIQ 5, all-new 2022 Tucson SUV and Genesis GV80 SUV have been selected by German motoring magazine Auto Bild as the Best Import Cars of the [...]
SEOUL, Jan. 27 (Korea Bizwire) — Hyundai Motor Co. reportedly plans to start selling cars again in Japan. The South Korean carmaker is in the final stages of resuming car sales in the Japanese market, with a particular focus on electric vehicles, industry sources said. Hyundai has already unveiled new Japanese pamphlets introducing the Nexo [...]
SEOUL, Jan. 27 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, said Thursday it has invested US$4 million in U.S. radar startup Zendar to develop autonomous driving technologies. Through the stake investment, Hyundai Mobis aims to develop imaging radar optimized for Level 4 autonomous driving technology, the company said in a [...]
SEOUL, Jan. 27 (Korea Bizwire) — SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Thursday it has signed a parts supply deal with a Saudi Arabian carmaker. Under the seven-year deal, SsangYong Motor will initially provide semi knockdown units to Saudi National Automobiles Manufacturing Co. (SNAM) and then [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s exports of autos rose to the highest point in seven years last year due to the low base effect and strong demand for eco-friendly cars, customs data showed Thursday. The country’s outbound shipments of cars came to US$42.6 billion last year, up 23 percent from the previous [...]
SEOUL, Jan. 26 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Wednesday its fourth-quarter net profit rose 30 percent from a year earlier on a weak won and increased SUV sales. Net profit for the three months ended in December jumped to 1.248 trillion won (US$1.04 billion) from 961.6 billion won during the [...]
SEOUL, Jan. 25 (Korea Bizwire) — SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Tuesday it inked narrowed losses last year but remains in a complete capital erosion. Net losses narrowed to 292.9 billion won (US$244 million) in 2021 from 504.34 billion won a year earlier on companywide [...]
SEOUL, Jan. 25 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Tuesday its fourth-quarter net profit plunged 41 percent from a year earlier as extended chip shortages affected vehicle production and sales. Net profit for the three months ended in December came to 701.4 billion won (US$585 million) from 1.183 trillion won a year [...]
SEOUL, Jan. 25 (Korea Bizwire) — Mercedes-Benz Korea said Tuesday it will continue to beef up its electric vehicle lineup in South Korea to meet changing customer demands and follow the automobile industry trends. The German carmaker plans to launch four all-new and two facelifted models in Korea, its fifth-biggest passenger vehicle market, this year, [...]
SEOUL, Jan. 24 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Monday it aims to sell 25,000 units of the all-new Niro SUV model in the domestic market this year. Last week, Kia received nearly 18,000 preorders for the environment-friendly Niro, equipped with a 1.6-liter gasoline hybrid engine and a 32 kilowatt motor [...]