SEOUL, Dec. 9 (Korea Bizwire) — Hyundai Motor Co. said Thursday it will launch domestic sales of the Xcient, the world’s first mass-produced hydrogen-powered truck. The Xcient fuel cell trucks have already been exported to countries such as Switzerland and Germany. The carmaker signed a memorandum of understanding (MOU) with the Ministry of Land, Infrastructure [...]
SEOUL, Dec. 6 (Korea Bizwire) — Volkswagen Group Korea (VWGK) is firmly on the recovery path as it has focused on reviving sales and regaining consumer confidence, which was hurt by the company’s diesel emissions scandal in 2015, the group’s managing director has said. In South Korea, the German carmaker voluntarily stopped selling its vehicles [...]
SEOUL, Dec. 5 (Korea Bizwire) — Sales of imported vehicles in South Korea jumped 50 percent last month from a year earlier despite the extended chip shortage, an industry association said Monday. The number of newly registered foreign vehicles stood at 28,222 units last month, up from 18,810 units a year ago, the Korea Automobile [...]
SEOUL, Dec. 5 (Korea Bizwire) — Hyundai Motor Co.’s first mini SUV, the Casper, has been a boon for the domestic minicar market, which has seen sales plunge in recent years. 5,573 units of Casper model were sold last month, the highest monthly record since the car’s debut in September last year, according to the [...]
SEOUL, Dec. 2 (Korea Bizwire) — Sales of electric vehicles (EVs) by Hyundai Motor Co. and its smaller affiliate Kia Corp. sank in the U.S. market last month from a month earlier, company data showed Friday, suggesting the new U.S. law on EV tax credits is affecting the demand. Hyundai sold 1,193 flagship IONIQ 5 [...]
SEOUL, Dec. 2 (Korea Bizwire) — The waiting time for the delivery of domestically-made vehicles has dropped significantly thanks to the gradual easing of the chip shortage that disrupted carmakers starting last year. According to Yonhap News Agency’s analysis on Hyundai Motor Co. and its independent Genesis brand’s table of expected delivery time by model, [...]
SEOUL, Dec. 1 (Korea Bizwire) — South Korean automakers saw their combined domestic electric vehicle (EV) sales surpass the 100,000 mark this year for the first time. The country’s five carmakers — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Korea Motors Co. and SsangYong Motor Co. — saw their combined EV sales reach [...]
SEOUL, Nov. 25 (Korea Bizwire) — A variety of South Korean businesses, including those specializing in automobiles, self-driving technology, semiconductors for automobiles, and telecommunications software will unite forces to create a connected car ecosystem. The Ministry of Trade, Industry and Energy announced that it hosted an inauguration ceremony for the Connected Car Alliance in Yeouido, [...]
SEOUL, Nov. 24 (Korea Bizwire) — Mercedes-Benz Financial Services Korea (MBFSK), the South Korean unit of Mercedes-Benz Group AG’s financial and mobility services division, is being criticized for predatory lending practices. It has been pointed out that MBFSK is offering high-interest-rate loans to new customers after borrowing at low interest rates from its German headquarters. [...]
SEOUL, Nov. 21 (Korea Bizwire) — Hankook Tire & Technology Co., the world’s seventh-largest tiremaker by sales, said Monday it started supplying tires for Czech carmaker Skoda Auto’s all-electric SUV this year. Hankook Tire began providing the Ventus S1 Evo3 ev product in the first half of this year in the form of original equipment [...]