SEOUL, April 16 (Korea Bizwire) — Chinese electric bus manufacturers are scrambling to secure production plants in South Korea. Sources said that three South Korean companies in charge of the exclusive distribution of Chinese electric buses are working with Chinese firms to set up production facilities for electric buses. It is the first time for [...]
SEOUL, April 16 (Korea Bizwire) — South Korea said Friday it plans to increase investment in research & development (R&D) on key technologies for next-generation vehicles in a bid to help local automakers take the lead in the market. Finance Minister Hong Nam-ki said the government will spend 367.9 billion won (US$328 million) in supporting [...]
SEOUL, April 16 (Korea Bizwire) — South Korean auto giant Hyundai Motor Group said Friday it will collaborate with local battery maker SK Innovation Co. to develop the battery system for its upcoming hybrid electric vehicles (HEVs). The pouch-type battery cell will be topped on HEVs to be released by the automotive group’s two affiliates [...]
SEOUL, April 15 (Korea Bizwire) — Hyundai Motor Co. said Thursday it will launch the IONIQ 5 all-electric vehicle in the domestic market next week as its production resumed this week. Hyundai plans to launch the IONIQ 5 model on Monday, and government subsidies will be available for EV purchases from Wednesday, a company spokesman [...]
SEOUL, April 15 (Korea Bizwire) — Hyundai Motor Group said Thursday it will launch more than 20 electric models in China by 2030 as it is struggling to revive sales in the world’s biggest automobile market. Hyundai Motor Co. and affiliate Kia Corp. will gradually launch 21 hydrogen fuel-cell electric and other electrified vehicles, including [...]
SEOUL, April 15 (Korea Bizwire) — U.S. electric vehicle maker Tesla Inc.’s sales in South Korea nearly quadrupled last year from a year earlier on rising popularity of its vehicles, its financial statement showed Thursday. Tesla Korea said in a regulatory filing that it logged 716.2 billion won (US$640 million) in sales in the Korean [...]
SEOUL, April 15 (Korea Bizwire) – SsangYong Motor Co. was placed under court receivership once again Thursday as its Indian parent Mahindra & Mahindra Ltd. has failed to attract an investor amid the prolonged COVID-19 pandemic and its financial status is further worsening. The Seoul Bankruptcy Court approved the debt-rescheduling process for SsangYong Motor as U.S. [...]
SEOUL, April 15 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Thursday it will suspend two of its three plants next week due to a lack of semiconductors parts. GM Korea will halt the No. 1 and No. 2 plants in Incheon, 40 kilometers west of Seoul, from [...]
SEOUL, April 14 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. — South Korea’s two biggest carmakers — are expected to have raked in solid earnings in the first quarter of the year on a base effect and an improved product mix, analysts said Wednesday. In the first quarter of 2020, Hyundai [...]
SEOUL, April 14 (Korea Bizwire) — South Korean auto giant Hyundai Motor Group said Wednesday it will operate high-speed charging stations on major highways to expand the charging infrastructure for its upcoming electric vehicles (EVs). The group said it will open 12 fast EV charging stations equipped with 72 chargers in highway rest areas across [...]