SEOUL, Aug. 17 (Korea Bizwire) — Hyundai Motor Co.’s premium Genesis overtook Daimler’s Mercedes-Benz as the top-selling luxury brand in the first seven months of this year in South Korea, industry data showed Monday. If the trend continues, Genesis will regain its top spot in local luxury vehicle sales for the first time in four [...]
SEOUL, Aug. 17 (Korea Bizwire) — South Korea’s exports of automobiles dropped by almost 12 percent in July from a year earlier, extending their slump to a fourth month, due mainly to the new coronavirus pandemic that has strained global business activities while weighing on consumer sentiment, data showed Monday. Local carmakers shipped 181,362 units [...]
SEOUL, Aug. 14 (Korea Bizwire) — Hyundai Motor Co. said Friday its compact Kona Electric sport utility vehicle has set a record travel range on a single battery charge in Germany. The Kona Electric traveled 1,026 kilometers on a single charge in a test at the EuroSpeedway Lausitz, a racetrack in the northern region of [...]
SEOUL, Aug. 12 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Wednesday it has given the name Motional to its US$4 billion joint venture with Ireland-based self-driving technology startup Aptiv. In March, Hyundai set up the 50:50 joint company with Aptiv, to be headquartered in Boston, in order to test [...]
SEOUL, Aug. 10 (Korea Bizwire) — Indian carmaker Mahindra & Mahindra Ltd. will give up its status as the biggest shareholder of SsangYong Motor Co. if it finds a new investor, the South Korean company said Monday. Mahindra’s board of directors recently agreed to lower the company’s 74.65 percent stake in SsangYong Motor to below [...]
SEOUL, Aug. 10 (Korea Bizwire) — Hyundai Motor Co. said Monday it will launch three all-electric models under its EV brand IONIQ by 2024 to gain a share in the rapidly growing EV market. The first model to be released under the IONIQ EV brand will be the Ioniq 5 crossover utility vehicle, the company [...]
SEOUL, Aug. 8 (Korea Bizwire) — Shares in Hyundai Motor Co. are set to further build up gains after a climb for five consecutive sessions on expectations that its new models set to debut in the United States later this year will help improve sales, analysts said. Hyundai shares jumped 16 percent in the first [...]
SEOUL, Aug. 6 (Korea Bizwire) — Hyundai Motor Co. will work with a British partner to build urban air mobility (UAM) infrastructure, South Korea’s leading carmaker said Thursday. The deal with Urban-Air Port calls for close cooperation in the building of facilities that can handle takeoff and landings of future personal air vehicles (PAVs) as [...]
SEOUL, Aug. 5 (Korea Bizwire) — Sales of imported vehicles in South Korea rose 1.7 percent in July from a year earlier on strong sales of German vehicles, an industry association said Wednesday. The number of newly registered foreign vehicles rose to 19,778 units last month from 19,453 a year earlier, the Korea Automobile Importers [...]
SEOUL, Aug. 3 (Korea Bizwire) — South Korean carmakers’ auto sales fell 9.2 percent last month from a year earlier as overseas demand remained weak amid the new coronavirus outbreak, but their domestic sales spiked 10 percent, industry data showed Monday. The five carmakers in South Korea — Hyundai Motor Co., Kia Motors Corp., GM [...]