SEOUL, Sept. 2 (Korea Bizwire) – South Korean carmakers’ vehicle sales fell 11 percent last month from a year earlier as the new coronavirus outbreak continued to affect consumer sentiment, industry data showed Tuesday. The five carmakers in South Korea — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and [...]
SEOUL, Sept. 2 (Korea Bizwire) – South Korea’s exports of eco-friendly automobiles rose nearly 23 percent in the first half of 2020 from a year earlier, data showed Wednesday. Outbound shipments of eco-friendly cars, including electric vehicles, reached US$3.16 billion in the January-June period, taking up 20 percent of the country’s total automobile exports, according [...]
SEOUL, Aug. 27 (Korea Bizwire) — Mercedes-Benz said Thursday it will launch three new SUVs in South Korea as it seeks to cement its leading status in the country’s imported car market. The German carmaker will launch the three all-new SUV models — the Mercedes-Benz GLB, the Mercedes-Benz GLA and the Mercedes-Benz GLE Coupe — [...]
SEOUL, Aug. 27 (Korea Bizwire) — Kia Motors Corp. on Thursday unveiled the upgraded Stinger sports sedan in South Korea to boost sales in the struggling sedan market. The Stinger Meister sports car — the face-lifted version of the first-generation Stinger launched in 2017 — comes with a 2.5-liter turbocharged gasoline engine or a 3.3 [...]
SEOUL, Aug. 26 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, said Wednesday it will invest 36 billion won (US$30 million) in expanding its output capacity of electric vehicle components. Hyundai Mobis has already invested more than 300 billion won in EV parts plants in the central city of Chungju — [...]
SEOUL, Aug. 26 (Korea Bizwire) — Sales of imported commercial vehicles in South Korea fell 25 percent last month from a year earlier amid the coronavirus pandemic, an industry association said Wednesday. The number of newly registered imported commercial vehicles fell to 289 units in July from 383 a year earlier, according to the Korea [...]
SEOUL, Aug. 20 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, said Thursday it has partnered with a think tank and a company in Australia to jointly develop hydrogen production technology. Hyundai signed an initial contract with the Commonwealth Scientific and Industrial Research Organization (CSIRO) and Fortescue Metal Group Ltd. (FMG) to collaborate [...]
SEOUL, Aug. 20 (Korea Bizwire) — A U.S. automotive distribution company may submit a binding offer to acquire a stake in SsangYong Motor Co. next month as the carmaker’s Indian parent looks for an investor, media reports said Thursday. HAAH Automotive Holdings, Inc., a California company that imports vehicles for the U.S. market, is preparing [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has ordered the local unit of Tesla Motors Inc. to revise unfair contract terms. The order came after some customers filed a complaint with the Korea Fair Trade Commission, alleging that the unfair terms violated a law that protects consumers’ rights. One [...]
SEOUL, Aug. 18 (Korea Bizwire) — Renault Samsung Motors Corp., the South Korean unit of Renault S.A., on Tuesday launched the Renault ZOE all-electric car to boost its lackluster sales. The company began to receive orders for the Renault ZOE on Tuesday, with a plan to begin delivering ordered vehicles in September, a company spokesman [...]