SEOUL, Feb. 7 (Korea Bizwire) — BMW has introduced the latest iteration of its all-electric Sports Activity Vehicle (SAV), the ‘New iX,’ marking its global debut. The automaker announced the unveiling on February 7, highlighting significant advancements in power, design, and battery efficiency. The New iX, part of the BMW i sub-brand, incorporates the company’s latest [...]
SEOUL, Feb. 7 (Korea Bizwire) – Hyundai Motor Co. will temporarily suspend production of its Ioniq 5 and Kona Electric models, as weakening electric vehicle (EV) demand continues to impact sales, according to industry sources Friday. According to the sources, Hyundai Motor will halt operations of Line 12 at its Ulsan Plant 1 in South [...]
SEOUL, Feb. 5 (Korea Bizwire) — Automakers in South Korea, both domestic and foreign, are slashing electric vehicle (EV) prices this month in response to slowing demand and the entry of Chinese manufacturers into the market. Industry analysts suggest that established players, including Hyundai and Kia, are defending their market share against price-competitive models from China’s [...]
SANTA MONICA, Calif., Feb. 5 (Korea Bizwire) — Kia is making a bold push into the U.S. compact sedan market with its newly launched K4, a model assembled in Mexico and designed specifically for North American consumers. At a media event on February 4, the automaker introduced the vehicle to Asian press outlets, outlining its marketing strategy [...]
LOS ANGELES, Feb. 5 (Korea Bizwire) — Hyundai and Kia, along with other global automakers, have launched operations for their joint electric vehicle (EV) charging venture, Ionna, marking a significant expansion of EV infrastructure across the United States. Hyundai announced on February 4 that Ionna, established last year to develop a robust North American charging network, [...]
SEOUL, Feb. 5 (Korea Bizwire) - Hyundai Motor Group is expected to be among the least affected global automakers from the United States’ plan to levy a 25 percent tariff on goods from Mexico, according to market watchers Wednesday. Major automakers with production bases in Mexico include General Motors (GM), Ford, Toyota, Nissan, Volkswagen, Honda [...]
SEOUL, Feb. 4 (Korea Bizwire) — Chevrolet’s Trax Crossover was South Korea’s most exported passenger vehicle in 2024, with the Trailblazer securing the fourth spot, according to an announcement by GM Korea on February 4. Data from the Korea Automobile & Mobility Association (KAMA) shows that a total of 295,099 units of the Trax Crossover, including [...]
SEOUL, Feb. 4 (Korea Bizwire) - Hyundai Motor Group said Tuesday it received high praise at recent major automotive awards in Britain and the United States, winning multiple honors across its three automotive brands. At the 2025 What Car? Awards, a prestigious British automotive awards event, Hyundai and Kia secured seven wins, with key models, [...]
MEXICO CITY, Feb. 4 (Korea Bizwire) — South Korean companies operating in Mexico have expressed cautious relief after the U.S. and Mexican governments agreed to postpone a planned 25% tariff on Mexican exports for one month. However, with the tariff still looming as a possibility, businesses remain on high alert, preparing for potential disruptions. Kia Mexico, a [...]
SEOUL, Feb. 3 (Korea Bizwire) — The South Korean auto industry is bracing for significant disruptions after U.S. President Donald Trump announced new universal tariffs on the country’s largest trading partners, including Canada, Mexico, and China. The move is expected to have immediate financial implications for South Korean automakers and suppliers, particularly those that have [...]