SEOUL, Feb. 12 (Korea Bizwire) — U.S. electric vehicle maker Tesla Inc. on Friday launched its compact sport utility vehicle (SUV), the Model Y, in South Korea as it tries to boost sales in the country. Tesla Korea said the Model Y is available in three trim levels here, with the starting price for the [...]
SEOUL, Feb. 10 (Korea Bizwire) — Hyundai Motor Group on Wednesday unveiled its first “uncrewed” mobility vehicle concept as it strives to morph into a future mobility solutions provider. The TIGER robot, which stands for Transforming Intelligent Ground Excursion Robot, is designed to operate as a four-wheel drive vehicle or a four-legged walking machine to [...]
SEOUL, Feb. 9 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker by sales, said Tuesday it will invest 29 trillion won (US$26 billion) in car manufacturing facilities and future mobility technologies by 2025. Kia will spend 18.8 trillion won on enhancing profitability in the existing car manufacturing business and 10.1 trillion won on generating [...]
SEOUL, Feb. 8 (Korea Bizwire) — Hyundai Motor Co. and affiliate Kia Corp. said Monday they are not in talks with Apple Inc. over an electric car manufacturing project in response to reports of their suspended discussions. In separate regulatory filings, Hyundai and Kia, which together form the world’s fifth-biggest carmaker by sales, said they [...]
ULSAN, Feb. 6 (Korea Bizwire) — Hyundai Motor Co. will reshore some of its manufacturing operations in the United States to help maintain work for its employees at home, its union said Saturday. Under an agreement reached between the company and the union, production of about 70,000 Sonata and Avante sedans will be returned from [...]
SEOUL, Feb. 5 (Korea Bizwire) — Management crises are sweeping over South Korean units of foreign automakers. Financially-troubled SsangYong Motor Co. stalled operation of its plant in Pyeongtaek, 70 kilometers south of Seoul, last Wednesday after several subcontractors refused to supply essential parts and demanded payment. The South Korean unit of Indian carmaker Mahindra & [...]
SEOUL, Feb. 4 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Thursday it will cut vehicle production by half at one of its three plants from next week due to a lack of semiconductor chips. GM Korea’s planned output reduction is in line with U.S. parent GM’s decision [...]
SEOUL, Feb. 3 (Korea Bizwire) — Kia Corp. will use its Niro electric vehicle in Singapore as a delivery vehicle for fresh food. The South Korea’s second-biggest carmaker joined hands with local cold chain startup S.lab Asia Inc. for a project to create a last-mile delivery purpose built vehicle (PBV). Last-mile delivery refers to the [...]
SEOUL, Feb. 3 (Korea Bizwire) — Sales of imported vehicles in South Korea jumped 27 percent in January from a year earlier on robust sales of German cars, an industry association said Wednesday. The number of newly registered foreign vehicles climbed to 22,321 units last month from 17,640 a year ago despite the COVID-19 pandemic, [...]
SEOUL, Feb. 3 (Korea Bizwire) — Hyundai Motor Co. and affiliate Kia Corp. said Wednesday their sales in the United States rose 7.9 percent in January from a year earlier on robust SUV sales. Hyundai Motor and Kia sold a combined 91,173 vehicles in the world’s most important automobile market last month, up from 84,498 [...]