SEOUL, Aug. 19 (Korea Bizwire) — Genesis, the independent luxury brand of Hyundai Motor Co., on Thursday unveiled the design of its first all-electric GV60 ahead of its launch later this year. The GV60 is Genesis’ first-ever EV based on the same electric-global modular platform (E-GMP) as the Hyundai IONIQ 5 and Kia EV6, and [...]
SEOUL, Aug. 19 (Korea Bizwire) — Hyundai Motor Co. and affiliate Kia Corp. have kicked off a new mobility service for the transportation vulnerable such as the disabled and elderly people in the U.S. The two companies announced on Wednesday the launch of EnableLA, a wheelchair accessible vehicle (WAV) ride-hailing service, in Los Angeles, aimed [...]
SEOUL, Aug. 17 (Korea Bizwire) — SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Tuesday its first-half net losses narrowed from a year earlier on self-rescue measures. From January to June, SsangYong Motor’s net losses fell to 180.53 billion won (US$154 million) from a net loss of 202.38 [...]
SEOUL, Aug. 16 (Korea Bizwire) — GM Korea Co. will kick off car sales on a 100 percent online basis, a first among South Korean car brands. The South Korean unit of General Motors Co. announced that the Bolt EUV, the Chevrolet brand’s first electric SUV model, will be sold exclusively through the Chevrolet online [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Friday accumulated vehicle production at its U.S. plant has exceeded 5 million units since it began operations in May 2005. Hyundai Motor has produced 2.56 million units of the Sonata sedan, 1.48 million Avante compacts, 900,000 Santa Fe SUVs, 37,000 Tucson SUVs and [...]
SEOUL, Aug. 12 (Korea Bizwire) — A number of South Korean corporations were found to have purchased luxurious supercars for ‘business purposes,’ raising suspicions that the cars could have been driven by management staff or representatives for private use. Rep. Lee Yong-ho (Independent) reported that according to the Ministry of Land, Infrastructure, and Transport, there were [...]
SEOUL, Aug. 11 (Korea Bizwire) – GM Korea Co., the South Korean unit of General Motors Co., on Wednesday unveiled the Bolt EUV, the Chevrolet brand’s first electric SUV model, to meet rising demand for environment friendly vehicles. GM Korea also unveiled the upgraded Bolt crossover utility vehicle to revive sales in Asia’s fourth-biggest economy, [...]
SEOUL, Aug. 9 (Korea Bizwire) — Renault Samsung Motors Corp., the South Korean unit of Renault S.A., said Monday it will partner with Lynk & Co. to develop an environment friendly vehicle in the Korean market. Renault Group has announced it will form a joint venture with Geely, the Chinese owner of Volvo Cars, to [...]
SEOUL, Aug. 9 (Korea Bizwire) — Another homegrown equity fund renowned for its failed attempt to take over the holding company of the country’s largest airline last year has joined a consortium to acquire SsangYong Motor Co., the consortium said Monday. The Korea Corporate Governance Improvement (KCGI) fund came aboard the consortium that Edison Motors [...]
SEOUL, Aug. 5 (Korea Bizwire) — German luxury car brands used to symbolize high social status or economic success in South Korea, but they are not premium any more. The high-end vehicles have become the mainstream in the nation’s imported car market. The three big German automakers are expanding their presence in South Korea on [...]