SEOUL, June 24 (Korea Bizwire) — Automobili Lamborghini S.p.A. is on track to achieve a new sales record in South Korea this year on a growing appetite for a limited volume of super cars among deep-pocket Koreans, a company executive has said. The Italian luxury sports car maker has reported double-digit sales growth in Asia’s [...]
SEOUL, June 23 (Korea Bizwire) — Automobili Lamborghini S.p.A. on Friday launched the Italian luxury brand’s first plug-in hybrid model in South Korea as part of its “hybridization” strategy before going fully electric by the end of this decade. The Revuelto comes with a 6.5-liter V12 gasoline engine, which is capable of producing 1,015 horsepower, [...]
SEOUL, June 22 (Korea Bizwire) — Hyundai Motor Co.’s labor union has requested that management provide discount benefits for purchasing new cars not only to retirees with significant tenure at the company but to all retirees. This demand has reportedly been included in this year’s list of collective bargaining items. Every year at Hyundai, approximately [...]
SEOUL, June 22 (Korea Bizwire) — Hyundai Motor Co. and its affiliate, Kia Corp., are taking steps to solidify their top positions in Vietnam, which is emerging as a major automobile market in Southeast Asia. In the Vietnamese car market, Hyundai maintained its No. 1 position in terms of sales for the third consecutive year, [...]
SEOUL, June 21 (Korea Bizwire) — The head of Mercedes-Benz Korea Ltd. has said a predictable business environment is the “one thing” he has wanted the most from the South Korean government during his 2 1/2-year term that ends in September. Over the past few years, the regulatory landscape in South Korea has actually developed [...]
SEOUL, June 16 (Korea Bizwire) — General Motors Co. on Friday appointed a marketing expert from its Mexican operations as president and CEO of GM Korea. Hector Villarreal, vice president in charge of vehicle sales, service and marketing at GM Mexico, will replace Roberto Rempel on August 1. Rempel has decided to retire after serving [...]
SEOUL, June 15 (Korea Bizwire) — South Korea’s car exports soared nearly 50 percent on-year in May driven by vibrant demand for eco-friendly cars, particularly in the U.S. market, the industry ministry said Thursday. The value of outbound shipments of automobiles came to US$6.2 billion last month, up 49.4 percent from a year earlier to [...]
SEOUL, June 15 (Korea Bizwire) — Hyundai Motor Group said Thursday it has invested 1.3 trillion won (US$1.02 billion) in global startups in the electrification, artificial intelligence (AI) and autonomous driving sectors as part of its efforts to boost future mobility solutions. The South Korean automotive group made the investment in more than 200 startups [...]
SEOUL, June 13 (Korea Bizwire) — South Korean carmakers are increasingly choosing to facelift their existing models rather than develop entirely new vehicles amid the transition to electrification. KG Mobility, formerly known as SsangYong Motor Co., recently released another facelifted version of the Tivoli SUV, which was originally launched in 2015. This comes after the [...]
SEOUL, June 12 (Korea Bizwire) — Hyundai Motor Co. is enhancing its support for employees undertaking overseas business trips, which have been increasing in number since the end of the pandemic. The carmaker said Sunday that it has partnered with WeWork, a U.S.-based coworking space provider, enabling employees on overseas business trips to utilize WeWork’s [...]