SEOUL, April 20 (Korea Bizwire) — Volkswagen Korea will launch the 2023 model of its first electric vehicle, the ID.4, in June. The new model is powered by the MEB platform and an 82 kWh battery, with increased peak power and torque compared to the previous model. The 2023 ID.4 also has an increased range [...]
SEOUL, April 21 (Korea Bizwire) — South Korean carmakers’ global market share inched down in 2022 from a year earlier due largely to weaker sales in China and Russia, industry data showed Friday. Local automakers accounted for 7.3 percent of vehicle sales in the world’s eight major markets last year, down from 7.7 percent in [...]
SEOUL, April 20 (Korea Bizwire) — Genesis, the luxury brand of Hyundai Motor, has launched an EV Service Package for its electric vehicle (EV) customers. The package includes vehicle management and lifestyle convenience services and is divided into two packages – ‘Advanced’ and ‘Premium’. The Advanced package includes four new Michelin OE tires and three [...]
SEOUL, April 20 (Korea Bizwire) — Hyundai Motor Co. said Thursday it will develop a moon-exploration mobility “Rover” as it seeks to morph into a future mobility solutions provider. In July last year, Hyundai Motor signed a memorandum of understanding with the country’s six aviation research institutes, including the Korea Aerospace Research Institute and the [...]
SEOUL, April 19 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s leading auto parts maker, said Wednesday it is targeting to win US$1 billion worth of orders in China this year, with the focus on high-end components for electric vehicles. Hyundai Mobis achieved $900 million worth of auto parts orders in the world’s biggest automobile [...]
SEOUL, April 18 (Korea Bizwire) — The South Korean government announced on Tuesday that it will engage in discussions with its American counterparts to ensure that Korean companies can benefit from the Inflation Reduction Act (IRA) policy in the future. This comes in response to Hyundai and Kia’s exclusion from the list of electric vehicles [...]
SEOUL, April 18 (Korea Bizwire) — Hyundai Motor Co. and its smaller affiliate Kia Corp. said Tuesday they aim to revive lackluster sales in China by launching new models in the world’s biggest automobile market this year. The two South Korean carmakers still suffer weak sales in China due to the lingering impact of a [...]
SEOUL, April 18 (Korea Bizwire) — Hyundai and Kia were notably absent from the list of subsidized electric vehicles selected by the US government under the guidelines of the Inflation Reduction Act (IRA). Nonetheless, the domestic auto industry appears to be relatively calm. According to the domestic industry’s analysis, the likelihood of receiving subsidies was [...]
SEOUL, April 17 (Korea Bizwire) — Hyundai Motor Group sold over 100,000 electric vehicles (EVs) abroad in the first quarter of 2023. The company’s combined global EV sales during this period were 135,499 units, with domestic sales of 39,982 units and overseas sales of 104,517 units. Flagship EV models, such as the Hyundai Ioniq 5 [...]
SEOUL, April 17 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s leading auto parts maker, said Monday it has developed the world’s first rollable display for vehicles. The rollable display disappears when the engine is turned off and the screen rolls up and down depending on driving conditions, the company said in a statement. The [...]