SEOUL, Jan. 6 (Korea Bizwire) — Sales of imported vehicles in South Korea rose 4.5 percent last December from a year earlier due to strong demand for German cars, an industry association said Wednesday. The number of newly registered foreign vehicles climbed to 31,419 units last month from 30,072 a year earlier despite the COVID-19 [...]
SEOUL, Jan. 6 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Wednesday their U.S. vehicle sales fell 7.3 percent in 2020 from a year earlier amid the COVID-19 pandemic. Hyundai and Kia, South Korea’s two biggest carmakers, sold a combined 1,208,374 vehicles in the world’s most important automobile market last [...]
SEOUL, Jan. 5 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, will build its first overseas hydrogen fuel cell systems plant in China as it seeks to enter the local hydrogen market, industry sources said Tuesday. Hyundai Motor aims to build the hydrogen fuel cell systems plant in Guangzhou within this year as [...]
SEOUL, Jan. 4 (Korea Bizwire) — South Korean carmakers’ sales fell 5 percent last month from a year earlier as the COVID-19 pandemic continued to weigh on demand, industry data showed Monday. The five carmakers in South Korea — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor [...]
SEOUL, Jan. 4 (Korea Bizwire) – Hyundai Motor Co. and its affiliate Kia Motors Corp. said Monday they aim to sell a combined 7.08 million vehicles this year by selling more of their SUV models despite the COVID-19 pandemic. The sales target is 11.5 percent higher than 6,350,851 vehicles sold by the country’s two biggest carmakers [...]
SEOUL, Jan. 3 (Korea Bizwire) — South Korea’s exports of environment-friendly vehicles jumped 40 percent in 2020 from a year earlier on growing demand for less-emitting cars, the trade ministry said Sunday. Exports of all-electric and hydrogen fuel-cell electric vehicles climbed to US$4.6 billion last year from $3.3 billion a year ago, according to the [...]
SEOUL, Dec. 29 (Korea Bizwire) — Unionized workers at Kia Motors Corp. have voted to accept a new annual wage deal with management, the company said Tuesday. In a vote by 27,050 members of the labor union, 58.6 percent, or 15,856, agreed to the company’s proposals, including 1 1/2 months of merit-based remuneration, 1.2 million [...]
SEOUL, Dec. 23 (Korea Bizwire) — A dispute over the safety of electric cars is attracting attention after a vehicle produced by Tesla Motors Inc. crashed into a wall in the underground parking lot of an apartment complex and caught fire. The accident left one dead and two injured. The driver of the Tesla’s Model [...]
SEOUL, Dec. 23 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it has acquired General Motors Co.’s auto plant in Russia to step up its vehicle production in the nation. The South Korean automaker finalized the deal in early November to buy the American carmaker’s assembly line in Saint Petersburg, a company spokesperson said, without [...]
SEOUL, Dec. 22 (Korea Bizwire) — Debt-ridden SsangYong Motor Co. said Tuesday it owes a total of 315.3 billion won (US$285 million) in overdue debt to financial institutions as it filed for court receivership a day earlier. As of Tuesday, SsangYong Motor has overdue debts of 100 billion won owed to foreign lenders like JP [...]