SEOUL, March 17 (Korea Bizwire) — Sales of electric vehicles in South Korea nose-dived more than 45 percent in the first two months of the year amid a lack of subsidy policies and customer expectations for rollouts of new models, data showed Wednesday. A total of 2,444 EVs were sold in Asia’s fourth-largest economy in [...]
SEOUL, March 16 (Korea Bizwire) — Hyundai Motor Group will post improved profitability in 2021 on its diversified lineup and cost reductions, the group’s chairman said Tuesday. In an online townhall meeting with employees, Hyundai Motor Group Chairman Chung Euisun said, “the company’s profitability will improve a lot this year as it made a turnaround [...]
SEOUL, March 16 (Korea Bizwire) — Shares in South Korean battery makers plunged Tuesday after Volkswagen announced plans to produce its own batteries and gradually switch the type of battery used in its electric vehicles. The German carmaker said Monday it will build six battery factories in Europe to have a total capacity of 240 [...]
SEOUL, March 15 (Korea Bizwire) — South Korea’s exports of automobiles advanced 35 percent on-year in February, data showed Monday, as major trading partners gradually normalized their economic activities amid the virus pandemic. The country’s outbound shipments of automobiles reached 161,886 units in February, compared with 123,022 units posted a year earlier, according to the [...]
SEOUL, March 15 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, on Monday revealed the design of the EV6, its first dedicated all-electric model built on Hyundai Motor Group’s EV platform, ahead of its global unveiling later this month. The EV6 is based on the group’s own Electric-Global Modular Platform (E-GMP) and developed under [...]
SEOUL, March 11 (Korea Bizwire) — Hyundai Motor Co. on Thursday released a teaser for the all-new minivan Staria ahead of its domestic launch in the first half of this year. The seven-seat multipurpose vehicle will replace the Starex minivan, a company spokesman said. Hyundai expects the Staria will help boost sales due to increasing [...]
SEOUL, March 10 (Korea Bizwire) — Hyundai Motor Co. and affiliate Kia Corp. said Wednesday they are targeting a 23 percent on-year gain in China sales this year. Hyundai and Kia aim to sell a combined 817,000 vehicles in China in 2021, up from 664,744 units a year earlier, a Hyundai spokesman said. To help [...]
SEOUL, March 9 (Korea Bizwire) — Kia Corp. on Tuesday released a teaser for the EV6, its first dedicated all-electric model built on Hyundai Motor Group’s EV platform, ahead of its global unveiling later this month. Kia plans to launch seven all-electric models by 2027, and the EV6 is the first model of the planned [...]
SEOUL, March 8 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts company, is joining hands with local IT firms to develop a software platform for automobiles. Hyundai Mobis announced Sunday that it had formed a business consortium with 13 IT firms including LG Uplus, a major South Korean telecom operator. The company [...]
SEOUL, March 8 (Korea Bizwire) — How long do you think three treadmills could operate if they were powered by Hyundai Motor Co.’s newest electric vehicle, the IONIQ 5? The South Korean auto giant recently unveiled a video in which Atletico Madrid, a Spanish football club that is officially sponsored by the company, carried out [...]