SEOUL, May 4 (Korea Bizwire) — The trend of convergence in the roles of carmakers and auto insurers is forecast to accelerate as self-driving technologies continue to become more sophisticated, a report showed Monday. A growing number of carmakers are providing car insurance services by themselves or establishing joint ventures with insurance companies to develop [...]
BUSAN, May 3 (Korea Bizwire) — Unionized workers at Renault Samsung Motors Corp. said Monday they have decided to lay down their tools again to demand a wage hike. Renault Samsung’s 1,900-strong workforce will launch an eight-hour strike at their plant in Busan, around 450 kilometers south of Seoul, on Tuesday as they are not [...]
SEOUL, May 3 (Korea Bizwire) – South Korean carmakers’ sales jumped 77 percent last month from a year earlier driven by robust overseas demand for SUVs amid the extended COVID-19 pandemic, industry data showed Monday. The five carmakers — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. [...]
SEOUL, May 3 (Korea Bizwire) — With the introduction of dedicated electric vehicles, Hyundai Motor Co.’s all-electric SUV Kona and other EVs derived from combustion engine-based vehicles are expected to be discontinued in line with slowing sales. The Korea Automobile Manufacturers Association reported that Hyundai produced only 7,731 Kona EVs for the first quarter this [...]
SEOUL, May 3 (Korea Bizwire) — Amid forecasts that the shortage of automobile chips will extend until the end of this year, concerns are growing that the scarcity could serve as a stumbling block that prevents the Korean automobile industry from making a transition to future vehicles. To tide over the shortage of chips, Kia [...]
SEOUL, April 30 (Korea Bizwire) — U.S. automaker General Motors Co. said Friday it will recall Chevrolet Bolt electric vehicles equipped with batteries produced in LG Energy Solution Ltd.’s South Korean factory to update its battery software and ease fire risks. The recall covers about 69,000 Bolt EVs for the 2017-2019 model years, installed with [...]
SEOUL, April 29 (Korea Bizwire) – The buyers of Hyundai Motor Co.’s IONIQ 5 all-electric car could face lack of state subsidies for EV purchases as a global chip shortage affects the model’s production, industry sources said Thursday. Hyundai began the delivery of the IONIQ 5 on Thursday but still lacks traction motors essential to [...]
SEOUL, April 28 (Korea Bizwire) — South Korea’s exports of autos grew 31.4 percent on-year in the first quarter on the back of brisk shipments of sedans and eco-friendly vehicles, data showed Wednesday. The country’s outbound shipments of cars came to $11 billion in the January-March period, compared with $8.37 billion the previous year, according [...]
SEOUL, April 27 (Korea Bizwire) — Hyundai Motor Co. on Tuesday unveiled the Kona N high-performance model as it strives to strengthen its high-end product lineup. The Kona N is the first SUV model to be launched under the carmaker’s high-performance N brand. The model comes with an eight-speed dual-clutch transmission and a 2.0-liter turbocharged [...]
SEOUL, April 27 (Korea Bizwire) — Public organizations will have to choose only eco-friendly cars when purchasing new automobiles, in line with the country’s green energy drive, the industry ministry said Tuesday. “In order to speed up the transition, it is necessary to create new demands,” the Ministry of Trade, Industry and Energy said in [...]