SEOUL, Jan. 21 (Korea Bizwire) — Hyundai Glovis Co., a logistics unit of Hyundai Motor Group, said Thursday the launch of ‘Auto Bell,’ an online used car transaction platform designed to connect used car dealers with customers. To establish a reliable dealer network as well as to prevent false advertising, the company plans to check [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea announced plans on Wednesday to reduce the amount of subsidies provided to electric vehicle (EV) purchases in exchange for offering subsidies to a wider line-up. The government said that subsidies will be provided to 207,500 EVs this year, up from 101,000 cars last year. The maximum amount [...]
SEOUL, Jan. 20 (Korea Bizwire) — Diesel-powered vehicles, which once led the imported cars market in South Korea, are now being increasingly replaced by electric vehicles (EVs) or other eco-friendly vehicles. Carisyou Data Lab reported that among 286,722 imported cars sold last year, 52,318 (18 percent) were diesel cars. It is the first time in [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Thursday it has partnered with U.S. quantum computer firm IonQ for battery development. The partnership will allow Hyundai Motor to use IonQ’s quantum computers to develop more effective car batteries, Hyundai said in a statement. Quantum-powered chemistry simulation is expected to significantly enhance [...]
SEOUL, Jan. 18 (Korea Bizwire) — Swedish premium electric carmaker Polestar on Tuesday launched the Polestar 2, its first fully electric, high-volume model, in South Korea to gain a share in the local EV market. The Polestar 2 electric performance fastback is equipped with a 78kWh battery and can travel up 417 kilometers on a [...]
SEOUL, Jan. 18 (Korea Bizwire) — South Korea’s auto exports rose 8.6 percent on-year in 2021 on the back of the growing popularity of local brands in the global market and solid demand for eco-friendly vehicles, the industry ministry said Tuesday. Outbound shipment of vehicles reached 2.05 million units last year, compared with 1.89 million [...]
SEOUL, Jan. 13 (Korea Bizwire) — Genesis, the luxury brand of Hyundai Motor Co., said Thursday it is targeting a 10 percent on-year increase in sales this year spurred by new models. Genesis aims to sell 220,000 units globally in 2022, up from 200,000 sold last year, Hyundai Motor President and CEO Chang Jae-hoon told [...]
SEOUL, Jan. 11 (Korea Bizwire) — The Supreme Court on Tuesday upheld a lower court’s decision to sharply reduce the fine for Audi Volkswagen Korea (AVK) and clear the company of most of the charges in its diesel emissions scandal. The top court said it approved the Seoul High Court’s order last September, calling on [...]
SEOUL, Jan. 10 (Korea Bizwire) — A Seoul court on Monday approved a local consortium’s acquisition of SsangYong Motor Co., paving the way for the financially troubled carmaker to get back on track. On the same day, the consortium led by electric carmaker Edison Motors Co. signed a final deal with SsangYong to take over [...]
SEOUL, Jan. 9 (Korea Bizwire) — Hyundai Motor Co. said it aims for half of its U.S. vehicle sales to be environment friendly models by 2030 while planning to produce electric vehicles in the world’s most important automobile market, a company executive has said. Jose Munoz, Hyundai’s global chief operating officer, made the comments in [...]