SEOUL, Dec. 6 (Korea Bizwire) – Hyundai Motor Co., South Korea’s largest automaker, said Wednesday it has released a face-lifted version of its Tucson SUV. The front features a redesigned grille with angular shapes, and its rear bumper molding and skid plate have been expanded horizontally, Hyundai said in a statement. Inside, the face-lifted model [...]
SEOUL, Dec. 6 (Korea Bizwire) – The prevailing trend in the automotive market is currently centered around the craze for plug-in hybrid electric vehicles (PHEV), marking a notable shift in consumer preferences. Despite the somewhat sluggish sales of fully electric vehicles, hybrids, previously considered a passing fad, are experiencing a resurgence. This revival is evident in [...]
SEOUL, Dec. 6 (Korea Bizwire) – Concerns persist regarding the urea crisis, as Chinese authorities have imposed a blockade on urea exports to South Korea, with speculation that this situation may extend into the first quarter of next year. The sudden suspension of industrial urea clearance from China to South Korea has intensified the supply chain [...]
SEOUL, Dec. 4 (Korea Bizwire) – Kia’s compact recreational vehicle (RV), the Ray, has achieved a noteworthy milestone by securing its highest annual sales on record this year. As per the November sales report disclosed by Kia on Sunday, the Ray witnessed a surge in sales, with 4,587 units sold in the domestic market last month—an [...]
WASHINGTON, Dec. 1 (Korea Bizwire) – The United States on Friday released proposed guidance defining a “foreign entity of concern (FEOC)” in a move to clarify its rules meant to block tax credits for electric vehicles (EVs) with battery components and critical minerals from China. The Treasury and Energy Departments announced the long-awaited rules of [...]
SEOUL, Nov. 29 (Korea Bizwire) – In a groundbreaking reveal that is expected to herald a complete paradigm shift in vehicle propulsion, Hyundai and Kia have revealed a new drive system that integrates essential vehicle components within the wheel. This innovation liberates the space between the wheels, allowing for the implementation of novel designs or the [...]
SEOUL, Nov. 28 (Korea Bizwire) – In a strategic move set to redefine its presence in the domestic market, GM Korea is on the verge of achieving a noteworthy 20 percent share of South Korea’s automotive exports, bolstered by strong sales of the Trailblazer and Trax Crossover. In an industry where the combined market share of [...]
SEOUL, Nov. 27 (Korea Bizwire) — Euisun Chung, chairman of South Korea’s Hyundai Motor Group, has been named the auto industry’s leader of the year by U.S. magazine Automotive News, according to the group on Monday. Chung was given the most prestigious honor among 38 key figures within the global automotive industry included in the [...]
SEOUL, Nov. 23 (Korea Bizwire) — Hyundai Motor Co., South Korea’s leading automaker, said Thursday it has partnered with University College London (UCL) to pursue joint research projects involving carbon-neutral future technologies. Under a memorandum of understanding signed in London on Wednesday (local time), Hyundai and UCL will cooperate in areas of research and development [...]
SEOUL, Nov. 23 (Korea Bizwire) – Thanks to record-breaking earnings, Hyundai Motor and Kia Corp. have surpassed Samsung Electronics in charitable donations so far this year, marking a historic first. According to CEO Score, which monitors corporate management activities, a total of 264 out of the country’s top 500 firms by sales collectively donated 1.4 trillion [...]