SEOUL, May 28 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, is seeking to sell an idle plant site in China to a local district government, industry sources said Friday. Hyundai Motor plans to sell the site of the No. 1 Beijing plant, which has been suspended since April 2019, to the Shunyi [...]
SEOUL, May 24 (Korea Bizwire) — With U.S. electric vehicle (EV) maker Tesla Inc.’s sales in South Korea dwindling, Mercedes-Benz, Porsche and other foreign carmakers are surging amidst growing competitiveness in the market for EVs. The Korea Automobile Importers and Distributors Association and Carisyou Data Lab reported a 2 percent increase in EV imports, reaching [...]
SEOUL, May 21 (Korea Bizwire) — The labor union of financially troubled SsangYong Motor Co. has called on the government to support the normalization of the company’s management, claiming that it is unfair to pass the responsibility of the company’s financial difficulties to the labor union. On Thursday, the labor union held a press conference [...]
SEOUL, May 20 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp. — South Korea’s top two automakers — reported an over fourfold jump in auto sales in Europe last month compared with a year earlier thanks to a lower base effect and robust demand for eco-friendly models, industry data showed Thursday. The corporate duo [...]
SEOUL, May 18 (Korea Bizwire) — South Korean automaker Hyundai Motor Co. has debuted its all-electric Ioniq 5 in hope of catching up with EV leader Tesla, but its ambitious plan could fizzle out this year with delayed production and rapidly drying-up state subsidies, and more recently its labor union’s opposition to its massive investment [...]
SEOUL, May 17 (Korea Bizwire) — On a quest to accelerate hydrogen mobility-related business, Hyundai Motor Co. is taking one more step towards improving public awareness of the transition towards a hydrogen society. In collaboration with the U.S. media company Bloomberg L.P., Hyundai Motor Group has operated the H2 Economy Campaign since 2019. The campaign [...]
SEOUL, May 16 (Korea Bizwire) — South Korea’s exports of automobiles jumped nearly 53 percent on-year in April, data showed Sunday, on the back of the global economic recovery coupled with a base effect. The country’s outbound shipments of automobiles reached 188,293 units in April, according to the Ministry of Trade, Industry and Energy. In [...]
SEOUL, May 16 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, said Sunday it has signed a deal with the Democratic Republic of Congo to export 500 Palisade sport utility vehicles as part of its export diversification strategy. Of the 500 Palisades, Hyundai shipped 250 units to the African country on Saturday, with [...]
SEOUL, May 14 (Korea Bizwire) — Hyundai Motor Group said Friday it will invest 8.1 trillion won (US$7.4 billion) in the United States by 2025 to produce electric vehicles, improve production facilities and increase its presence in the smart mobility solutions area. Hyundai Motor Co., the flagship of the country’s top automaking group, plans to [...]
SEOUL, May 12 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, on Wednesday unveiled the image of the G70 sedan, customized for the European market, before its launch later this year. The G70 Shooting Brake, the first strategic model under the Genesis brand for European markets, will be released with a 2.0-liter gasoline [...]