SEOUL, July 26 (Korea Bizwire) — South Korean units of three foreign carmakers suffered the worst sales slump since 1998 in the first half of this year in the face of toughening competition with their Korean rivals and luxury German brands, industry data showed Monday. The Korean units of GM Korea Co., Renault Samsung Motors [...]
SEOUL, July 25 (Korea Bizwire) – The head of U.S.-based vehicle importer HAAH Automotive Holdings Inc. has said the company is set to submit its letter of intent this week to acquire SsangYong Motor Co., industry sources said Sunday. HAAH Automotive Holdings founder Duke Hale said HAAH is the optimal company to acquire financially troubled [...]
SEOUL, July 22 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp., South Korea’s two biggest carmakers, on Thursday reported strong second-quarter earnings on a base effect and strong sales of their high-end SUVs. Hyundai’s net profit for the three months that ended in June jumped to 1.98 trillion won (US$1.7 billion) from [...]
SEOUL, July 22 (Korea Bizwire) — Hankook Tire & Technology Co., the world’s sixth-largest tiremaker by sales, said Thursday it recently began supplying tires for Volkswagen’s all-electric ID.4 SUV this year. Hankook Tire has provided the high-performance Ventus S1 evo3 ev tires for the ID.4 model since the second quarter of the year, the company [...]
SEOUL, July 22 (Korea Bizwire) — A South Korean company has developed an innovative self-driving technology that can detect a driver’s condition by measuring their brainwaves. Auto parts maker Hyundai Mobis Co. said Wednesday that it had developed a brainwave-based driver monitoring system called M.Brain. Starting from this year, M.Brain will be tested on public [...]
SEOUL, July 20 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, launched the all-new Sportage SUV in the domestic market Tuesday to meet rising demand for the vehicle type. The new Sportage comes with a 1.6-liter turbocharged gasoline hybrid engine, a 1.6 turbocharged gasoline engine or a 2.0 diesel engine, the company said in [...]
SEOUL, July 19 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp.’s environment friendly vehicle exports jumped 45 percent in the January-May period from a year earlier on strong demand for their hybrid sport utility vehicles. Hyundai and Kia shipped a combined 145,781 eco-friendly vehicles in the first five months, up from 100,691 [...]
SEOUL, July 19 (Korea Bizwire) — Hyundai Motor Group’s Pony Coupe, the first concept car in South Korea, will be revived in the new map ‘Taiko’ from the mega-hit computer game “PlayerUnknown’s Battlegrounds.” The company recently announced that it will unveil a Pony Coupe video through a partnership with Krafton Inc., a South Korean gaming [...]
SEOUL, July 16 (Korea Bizwire) — Hankook Tire & Technology Co., the world’s sixth-largest tiremaker by sales, said Friday it began supplying tires for BMW’s high-performance X3 M and X4 M models this year. Hankook Tire has provided the high-performance Ventus S1 evo Z tires for the performance SUV models since the first half, the [...]
SEOUL, July 16 (Korea Bizwire) — Multinational carmaker Stellantis Group said Friday it will bring six electrified models to South Korea by 2026 as it aims to get a share of the emerging local EV market. Stellantis is a 50:50 joint venture recently set up through the merger of U.S. carmaker Fiat Chrysler Automobiles N.V. [...]