SEOUL, Nov. 12 (Korea Bizwire) – South Korea’s Hyundai Motor Group stands as the second-largest player in the U.S. market for electric vehicles (EVs) despite concerns surrounding Washington’s protectionism policy, data showed Sunday. Hyundai Motor Co. took up 4.8 percent of the U.S. EV market in the January-September period, with its smaller sister Kia Corp. [...]
SEJONG, Nov. 10 (Korea Bizwire) – Over the past three months, large business groups boasting assets exceeding 5 trillion won have expanded their influence in the automotive and transportation sectors. The Korea Fair Trade Commission recently unveiled the “Status of Changes in Companies Belonging to Large Business Groups (August-October),” revealing that as of November 1, the [...]
SEOUL, Nov. 9 (Korea Bizwire) – The percentage of imported passenger cars in the domestic market is anticipated to drop below 20 percent this year, marking the first decline in four years. This decrease can be attributed to the relative success of domestic passenger car models, particularly Hyundai Motor’s luxury brand, Genesis, and the overall decrease [...]
SEOUL, Nov. 6 (Korea Bizwire) – Hyundai Motor executives recently took the unconventional step of test-driving a Tesla electric car and other luxury models from various manufacturers, garnering considerable attention in the process. This departure from the norm is indicative of Hyundai Motor Group Chairman Chung Eui-sun’s strong belief that the company should prioritize building cars [...]
SEOUL, Nov. 3 (Korea Bizwire) – Sales of imported vehicles in South Korea dropped 15.9 percent in October from a year earlier due to weakened demand for foreign electric vehicle (EV) models, industry data showed Friday. The number of newly registered imported cars last month totaled 21,329 units, compared with 25,363 units a year ago, [...]
SEOUL, Nov. 3 (Korea Bizwire) — Hyundai Motor Group said Friday it hosted an annual mobility forum in Silicon Valley, bringing together key figures from cutting-edge mobility companies and government officials to share ideas of the future of the industry. Under the theme titled “Re-Vision & Re-Value,” the group’s Mobility Innovators Forum 2023 was held [...]
SEOUL, Nov. 1 (Korea Bizwire) — LG Electronics Co. said Wednesday that it will provide its in-vehicle infotainment system for two models of Hyundai Motor Co.’s luxury brand Genesis. The 2024 Genesis G80 and the new GV80 Coupe will be equipped with LG’s webOS for Automotive platform, streaming a variety of content, including YouTube, from [...]
SEOUL, Oct. 30 (Korea Bizwire) –The inaugural “hydrogen-powered cleaning vehicle” is set to make its debut in Dongjak-gu, Seoul. Until this point, hydrogen-powered vehicles were primarily limited to passenger cars, buses, and cargo vehicles. However, this marks the first instance where a specialized hydrogen vehicle is designed for waste collection and transportation purposes. These innovative [...]
SEOUL, Oct. 30 (Korea Bizwire) — Exports of passenger cars moved up 16 percent in the third quarter of 2023 from a year earlier following robust demand for eco-friendly models, data showed Monday. South Korean carmakers shipped US$14.6 billion worth of passenger cars over the July-September period, rising from $12.6 billion tallied a year earlier, [...]
SEOUL, Oct. 30 (Korea Bizwire) – Hyundai is on the cusp of achieving double-digit market share in the U.S. electric vehicle (EV) segment. It’s intriguing to observe whether Hyundai can solidify its position as a pioneer in the American transition to electrification. During the third quarter of this year, Hyundai successfully sold 21,638 electric vehicles in [...]