SEJONG, Oct. 24 (Korea Bizwire) — South Korea’s antitrust regulator said Sunday it has decided to order Nissan Motor Corp., Porsche AG and their two Korean units to take corrective steps for falsified information over gas emissions of their diesel cars. Nissan Motor, Nissan Korea, Porsche and Porsche Korea are alleged to have stated false [...]
SEOUL, Oct. 22 (Korea Bizwire) — Edison Motors Co., the likely preferred bidder for financially troubled SsangYong Motor Co., said Friday it aims to turn around SsangYong in three to five years by focusing on transforming it into an electric vehicle-focused carmaker. On Wednesday, SsangYong and its court-appointed lead manager recommended a local consortium led [...]
SEOUL, Oct. 22 (Korea Bizwire) — Hyundai Motor Co. has introduced a compensation program for owners of the hydrogen fuel cell electric vehicle Nexo, 15,000 units of which have been recalled since August for quality defects. It recently notified Nexo owners that it has decided to introduce a ‘buy-back’ program for used cars.. The company [...]
SEOUL, Oct. 20 (Korea Bizwire) — A South Korean consortium led by local electric carmaker Edison Motors Co. has been recommended as the preferred bidder to acquire SsangYong Motor Co., the company said Wednesday. “SsangYong and its lead manager have recommended the Edison Motors consortium as the preferred bidder for the carmaker,” a SsangYong Motor [...]
SEOUL, Oct. 20 (Korea Bizwire) — The 2022 Genesis GV70 has been named Motor Trend’s SUV of the year, beating a list of high profile contenders from Ford Motor Co. and Stellantis, Hyundai Motor Group said Wednesday. The GV70 outshined 35 competing models such as the Ford Bronco, Ford Mustang Mach-F, Jeep Grand Cherokee and [...]
SEOUL, Oct. 13 (Korea Bizwire) — Volvo is setting new records in sales performance. According to the Korea Automobile Importers and Distributors Association, Volvo Car Korea sold 1,259 units this month, for a total of 11,193 units this year this far. Unlike in 2015, when Volvo’s sales performance was one-eighth (4,238 units) of Audi’s (32,538 [...]
SEOUL, Oct. 12 (Korea Bizwire) — An increasing number of hybrid vehicles, which use both internal combustion engines and electric motors, are being sold with turbo-powered engines. According to the Korea Automobile Manufacturers Association, the number of turbo engine-mounted vehicles sold by Hyundai Motor Co. and Kia Corp. in the first eight months of this [...]
SEOUL, Oct. 11 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s largest auto parts maker, said Monday it has developed a foldable steering wheel for future vehicles. The affiliate of Hyundai Motor Group said it developed a foldable steering system after two years of research. The company said it is currently working to acquire patents [...]
SEOUL, Oct. 8 (Korea Bizwire) — Hyundai Motor Co. announced on Thursday the launch of the Staria Kinder, a school bus for children. The minivan comes in two different configurations, 11-seat and 15-seat trims based on the Staria LPi 3.5 Tourer Modern. As children are expected to be the primary passengers, the 11-seater trim features [...]
SEOUL, Oct. 6 (Korea Bizwire) — South Korean automaker Hyundai Motor Co. took over half of the fuel cell electric vehicle (FCEV) market in the first eight months of the year, led by strong demand for its SUV model, industry data showed Wednesday. Hyundai Motor, the maker of the NEXO SUV, sold about 5,900 units [...]